Study: 4 in 5 CRE Developers Prefer Working With Banks That Offer Non-Recourse Repayment Options
ATLANTA–A recent study commissioned by LGIS Group (LGIS) revealed that, when selecting a financial institution to use for a commercial real estate (CRE) loan, 79 percent of U.S. CRE developers would be more likely to choose a bank that offered a non-recourse repayment over one that did not.
The study was conducted online by The Harris Poll and garnered responses from more than 350 U.S. commercial real estate developers (defined as those who have purchased commercial real estate to develop/redevelop for purchase or rental by others).
Today’s commercial real estate market is characterized by high levels of liquidity, which is fueling increased competition for banks and credit unions from other institutions, non-banks, fintechs and alternative lenders that are entering the industry.
The pioneer of Commercial Property Loan Insurance (CPLI) for the commercial real estate lending industry, LGIS commissioned the study to gain insight into the business strategy of CRE developers and how financial institutions can better meet their needs to gain a competitive advantage.
Additionally, when asked if they would be more or less likely to invest additional money into a project to resolve a development issue if the original CRE loan funding the project had no personal guarantee repayment requirements, 58 percent …
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