According to TD Bank, its Commercial Real Estate (CRE) Group closed more than 240 transactions totaling $6.3 billion in commitments in 2014. TDBank's CRE team increased its total commitments by nearly 9.5% in 2014 over 2013, highlighting the increased demand for TD's range of real estate financing products and the continued strength of the commercial real estate sector.
"Demand for commercial real estate financing was strong from Maine to Florida in 2014, particularly in the REIT space," said Gregg Gerken, senior vice president, TD Bank Group, and head of U.S. commercial real estate lending at TD Bank. "TD Bank is proud to partner with more than 600 major players in the CRE industry, and we expect to see continued strength during 2015 as the economy and employment picture continue to improve."
Through its lending commitment for low-income housing tax credits, new markets tax credits, and "80/20" financing, in 2014 TD's CRE team also closed 18 transactions totaling more than $314 million in commitments to support local communities from Maine to Florida.
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J.