NEW YORK, NY – Lument, a national leader in commercial real estate finance, has been ranked second in Federal Housing Administration (FHA) multifamily and seniors housing and healthcare lending for the fiscal year ending September 30, 2020, according to year-end figures released by the U.S. Department of Housing and Urban Development (HUD). The firm was runner-up for closed loan volume as well as loans closed.
“We continue to be a proud partner of HUD and a champion of its lending programs,” said Lument CEO James Flynn. “They provide our clients with exceptional long-term certainty, especially in this historically low interest rate environment.”
Created from the merger of Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument closed 101 multifamily accelerated processing (MAP) transactions totaling nearly $2 billion (an 11% market share) as well as 57 HUD seniors housing and healthcare transactions totaling $753 million (a 17% market share) during HUD’s fiscal-year 2020. Lument‘s combined predecessor companies rank first in HUD seniors housing and healthcare lending over the past decade, with more than 1,000 closings totaling $8.6 billion.
This was a record year for FHA, with 1,237 closings totaling over $22 billion, an increase of 58% year-over-year. “That HUD was able to record such impressive volumes despite the challenges posed by the COVID-19 pandemic is a testament to the dedication of its staff and the attractiveness of its programs,” Flynn added.
The 2020 HUD volume does not include note modifications, which reduce interest rates on existing HUD loans. During this period, Lument closed more than 70 note modifications for seniors housing and healthcare borrowers totaling more than $740 million, bringing its total FHA lending volume in this category to $1.5 billion. For multifamily, the firm closed more than 40 note modifications totaling more than $500 million, resulting in a total multifamily volume of $2.5 billion for the year.
About Lument
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities. Member FINRA/SIPC. For more information, visit www.lument.com.
