Overall commercial mortgage volume more than tripled in South Florida between 2009 and 2014, according to a study released by Miami-based BridgeInvest, a private mortgage lender.
Over $11.4 billion in commercial mortgages were financed in 2014, up from about $9.8 billion in 2013 and $3.5 billion in 2009
Miami-Dade County captured the biggest slice of mortgage volume in the region in 2014 with 57 percent, followed by Palm Beach County at 23 percent and Broward County at 20 percent.
BridgeInvest used data from CRS Power Tool Mortgage, a Cushman & Wakefield research publication, for the study.
While Miami-Dade captured almost two-thirds of the commercial mortgage volume in 2014, the county also saw the most growth with a 42 percent year-over-year increase, compared to the 13 percent growth in Palm Beach and a 26 percent decline in Broward over the same period.
“Miami-Dade consistently has had more, but it’s considerably more this year when compared to Broward and Palm Beach,” said Alex Horn, managing partner of BridgeInvest. “Miami grew so much more. It’s very interesting and alludes to the fact that we’re seeing so much changing in the county,” he said.
The study broke out into seven classes of mortgages: land and construction, retail, multifamily, industrial, office, hotel and other. Land and construction dominated, with about $10.1 billion in mortgages, or 23 percent, followed by retail with $9.4 million, or 18 percent, and multifamily with $7.1 billion, or 17 percent.
see more at: http://www.bizjournals.com/southflorida/blog/morning-edition/2015/04/commercial-mortgages-triple-in-south-florida.html
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