TD Bank's Commercial Real Estate Group Closes More than 300 Transactions in 2015
Apr 25, 2016, 09:41 ET
CHERRY HILL, N.J., April 25, 2016 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, announced today that its Commercial Real Estate (CRE) Group closed more than 300 transactions totaling $5.1 billion in commitments in 2015, highlighting the continued demand for TD's range of real estate financing products and the continued strength of the commercial real estate sector.
"Steadily improving economic conditions have supported continued demand for commercial real estate financing, particularly in the housing sector," said Gregg Gerken, Senior Vice President, TD Bank Group, and Head of U.S. Commercial Real Estate Lending at TD Bank.
Through its lending commitment for low-income housing tax credits, new markets tax credits, and "80/20" financing, in 2015 TD's CRE team also closed 35 transactions totaling more than $626 million in commitments to support local communities from Maine to Florida.
"Our most recent CFO Survey found that more than a quarter of respondents anticipate allocating capital to new facilities in 2016, so we expect this trend to continue over the next 12 months," Gerken said. "We're excited to be a part of this growth and look forward to partnering with companies to provide flexible financing solutions to meet their commercial real estate needs."
About TD Bank, America's Most Convenient Bank®
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 approximately 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. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
Logo - http://photos.prnewswire.com/prnh/20131120/MM21057LOGO
SOURCE TD Bank