Commercial Lending >> More than half of commercial real estate lenders expect loan production to go up in 2009, according to a survey by real estate services company Jones Lang LaSalle Inc.

In the survey, conducted earlier this month with 50 nationwide lenders

• 53 percent see more loans this year. The respondents included life insurance companies, dealers of commercial mortgage-backed securities, private lenders, commercial banks and government agencies.

• The optimists in the survey were private equity lenders and government agencies, which estimated an average rise in production up to 20 percent.

• Banks and life insurance companies, however, expected a volume decrease in 2009 ranging from 30 to 80 percent.

This year, 80 percent of lenders predict that up to 40 percent of their loan allocations will be used to refinance maturing loans within their existing portfolios.

• And 13 percent expect refinancing of maturities to make up 80 to 100 percent of their portfolios.

• About 67 percent of lenders expect some sort of securitized lending to come back to the capital markets by 2011 or later, while 22 percent predict securitized lending will return next year.

Declines in leasing activity coupled with sizable new deliveries with pre-leasing levels below 50 percent contributed to a continued rise in vacancy rates across markets tracked by Jones Lang LaSalle. 

Commercial Leasing >> Read Jones’ 36 page 4th Quarter 2008 Office Report for all the details.

• These fundamentals have driven quoted rents down by approximately 2.1 percent in the second half of 2008

• While effective rents have experienced greater declines as landlord concessions continued to increase throughout the year.

Tags: Commercial Lending and Leasing 2009

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