2026 Bank of America (Commercial Real Estate) Funding Report

The Blue Chip Conference – Wolves Division

Explore the benefits of Bank of America for your commercial real estate financing needs

Website: https://business.bofa.com/en-us/content/commercial-real-estate-loans.html
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🏀 2026 SEASON (CURRENT)

Lender Name	Total Points	Deals Logged	Volume Drafted	Primary Asest Focus	Most Common Loan Term	Primary Loan Type	Top States	Pace Score	Wins	Losses
Bank OZK	98	5	$853,100,000	Condo (3), Multifamily, Industrial	Construction loan (5)	Construction (5)	Florida (2), Pennsylvania, New York, California	0.33	2	TBD
European Investment Bank	85	4	$925,520,000	Industrial/Biorefinery, Shore Power Infrastructure, EV Charging Infrastructure, Wind Farm	15 years (1)	Construction (2)	Italy, Netherlands, Estonia, Spain	0.27	TBD	TBD
Mitsubishi UFJ Financial Group (MUFG) - Commercial RE	265	13	$3,930,177,778	Solar (4), Geothermal (2), BESS/Storage (2)	Construction-to-term / Non-recourse senior secured	Construction (8)	Louisiana (3), Utah (2), Chile, Japan, Spain, India	0.87	1	TBD
Wells Fargo - Commercial RE	571	24	$6,392,550,000	Office (7), Industrial (5), Multifamily (5), Mixed-Use (3), Hotel/Casino, Data Centers, Energy/LNG, Retail	5-year fixed-rate (3); 2-year floating-rate (2), floating-rate (2), construction loan (2)	Refinance (12), Acquisition (4), Construction (4), Bridge (2), Credit Facility, CMBS Refinance	New York (12), Texas (2), California (2), Virginia (2), Florida (2), Illinois (2)	1.5	1	1
Bank of Montreal (BMO) - Commercial RE	171	9	$1,329,000,000	Industrial (5), Multifamily (2), Data Centers, Retail	2-year floating-rate (2); construction loan (1), fund-level revolving (1)	Acquisition (4), Refinance (3), Construction, Credit Facility	Georgia (3), Florida (2), Virginia, New Jersey, Nevada, Texas	0.56	1	TBD
Deutsche Bank - Commercial RE	244	12	$2,726,870,000	Office (7), Multifamily (2), Energy/LNG, Hotel, Life Sciences	5-year fixed-rate (2); 2-year floating-rate (1), construction financing (1), CMBS conduit (1)	Refinance (8), Construction (2), CMBS Refinance	New York (5), California (2), Ireland, Washington, Delaware, Louisiana	0.75	1	TBD
First Citizens Bank - CRE	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
JP Morgan - Commercial RE	445	22	$7,051,238,096	Office (6), Industrial (3), Multifamily (2), Mixed-Use (2)	5-year, fixed-rate (3)	Refinance (5), CMBS for Refinance (5), Construction (4), Acquisition (4), Bridge for Refinance, Senior Loan + Mezzanine, Revolving Credit Facility	New York (6), Texas (2), California (2), Florida (2), Pennsylvania (2), Louisiana	1.31	3	TBD
Sumitomo Mitsui Banking Corporation (SMBC) - Commercial RE	147	4	$1,004,790,000	Energy Infrastructure (3: geothermal, HVDC, BESS), Data Centers, Multifamily, Renewable Energy	Green loan (1), construction-to-term (1), floating-rate (1)	Construction (5), Refinance	Japan, Canada, India, Portugal, New York, Utah	0.38	1	1
BNP Paribas	68	4	$521,481,762	Industrial, Agrivoltaic/BESS, Solar PV/BESS, Retail/Mall	2-year floating-rate (2)	CMBS for Refinance (2), Commercial Real Estate (2)	Italy, Chile, Florida, California, Georgia, Texas	0.25	TBD	TBD
Citigroup - Commercial RE	209	11	$2,190,404,762	Industrial (3, incl. Data Centers), Office (3), Multifamily (2), Retail (2)	5-year (3)	CMBS for Refinance (5), Refinance (3), Acquisition (2)	Florida (4), New York (3), Georgia (3), Texas (2), Virginia, Arizona	0.69	1	TBD
Morgan Stanley - Commercial RE	204	10	$3,832,443,333	Retail (3), Office (2), Industrial/Data Center (2)	2-year floating-rate with extension options (3)	Refinance (5), CMBS for Refinance (2), CMBS for Acquisition	New York (3), Virginia (2), Texas (2), Multiple States, Ireland	0.63	3	TBD
Santander Bank - Commercial RE	146	6	$1,168,871,633	Solar/BESS/Energy Storage (7), Multifamily (2)	Construction (4)	Refi (1), Construction (8)	Chile, Portugal, Peru, United Kingdom, California, Texas	0.56	1	1
Truist Bank - Commercial RE	64	4	$283,000,000	Multifamily (4)	N/A	Permanent loan, Construction (2), Refi	New Jersey, New York (2), D.C.	0.5	1	1
Bank of America - Commercial RE	307	14	$2,971,404,762	Office (5), Industrial (3), Energy/Geothermal (3), Retail (2)	2-year floating-rate (3)	Construction (4), Refinance (3), CMBS for Refinance (3), Acquisition (2)	New York (4), Florida (2), Virginia (2), Texas (2), California (2), Utah (2)	0.88	3	TBD
Goldman Sachs - Commercial RE	347	17	$3,862,750,000	Office (6), Mixed-Use (2), Hotel (2), Industrial (2), Retail (2)	5-year, fixed-rate (4)	CMBS for Refinance (6), Refinance (5), Construction (2), Revolving Credit Facility	California (3), New York (3), Virginia (3), Florida (2), Texas, Louisiana	1.06	2	1
ING Groep NV - Commercial RE	168	9	$1,597,212,833	Energy/Solar (6), Energy Storage (2), Office (1)	Non-recourse senior secured credit facilities (2); Construction-to-term (2)	Construction (7), Construction and Term (1), Refinance (1)	Louisiana (2), Pennsylvania, California, Texas, Italy, Romania	0.56	1	TBD
KeyBank	79	5	$768,200,000	Energy/Solar (3), Energy Storage (1), Senior Living (1)	7-year fixed (1 — Brookdale); Construction-to-term (1 — rPlus)	Construction (3), Refinance (2)	Idaho (2), Colorado	0.31	TBD	TBD
Natixis - Commercial RE	107	5	$1,693,166,667	Energy/Solar (2), Energy Storage (2), Energy/LNG, Retail	Construction-to-term / senior secured facilities (2)	Construction (4), Refinance	Texas, California, New York, Louisiana, Peru	0.31	TBD	TBD
Barclays - Commercial RE	175	11	$1,919,601,429	Industrial/Data Center (2), Office (2), Energy (2), Mixed-Use/Retail (2), Multifamily (2)	5-year (3)	Refinance (4), Acquisition (3), Construction (2)	Virginia (2), Louisiana, Utah, Pennsylvania, Maryland, United Kingdom	0.69	1
ACORE Capital	19	1	$160,000,000	Industrial	2-year floating-rate; 3×1-year extensions	Bridge	Texas, Maryland, Georgia, Pennsylvania, Illinois, Arizona	0.07	TBD	TBD
Affinius Capital	84	8	$921,628,000	Multifamily (6), Office, Student Housing	Floating-rate	Refinance (5), Acquisition (2), Construction	New York (3), Pennsylvania (2), California, Florida, United Kingdom	0.53	1	TBD
Barings	67	3	$861,400,000	Mixed-Use (Hotel to Residential Conversion), Mixed-Use (Retail + Condominium), Industrial	N/A	Construction (2), Refinance	New York, California, Tennessee	0.75	TBD	1
Brookfield	37	2	$739,000,000	Multifamily (2)	Three-year bridge (only stated term)	Refinance, Bridge	New York (2)	0.13	TBD	TBD
S3 Capital	24	2	$78,750,000	Mixed-Use Residential, Multifamily	TBD	Construction (2)	New Jersey, South Carolina	0.13	TBD	TBD
Berkadia	27	2	$110,942,000	Multifamily (2)	Freddie Mac	Acquisition (2)	Virginia, Wisconsin	0.5	TBD	TBD
Dwight Capital/Dwight Mortgage Trust	121	8	$497,500,000	Multifamily (6), Mixed-Use, Condo	HUD 221(d)(4) (2), HUD 223(f) (2)	Refinance (4), Construction (3), Bridge	New York (2), New Jersey (2), Texas, Florida, Utah, California	0.53	2	TBD
Greystone	92	6	$482,374,222	Multifamily (6)	24-month bridge with extension options (2)	Bridge for Refinance (2), Refinance (2), Acquisition, Construction/Rehabilitation	Illinois (2), North Carolina (2), New York, Mississippi	0.38	4	TBD
Madison Realty Capital	49	6	$703,550,000	Condominium (3), Hotel/Mixed-Use, Multifamily, Self-Storage	Construction completion 2027-2028 (2)	Construction (3), Condominium Inventory Loan, Bridge for Refinance, Acquisition	New Jersey (2), New York, Florida, Tennessee, Multiple States	0.38	1	TBD
Nuveen	99	7	$1,144,600,000	Multifamily (5), Office/Lab, Hotel	C-PACE (Full stack capitalization), 5-year floating-rate loan	C-PACE for construction (4), C-PACE for refinance, Acquisition (permanent financing)	Texas (2), Florida, Arizona, Pennsylvania, Philadelphia, D.C. (2)	1.16	1	1
Blackstone - Commercial RE	58	2	$10,223,000,000	Industrial, Data Center	Bridge Loan	Acquisition, Construction	Gerogia, Florida, New Jersey, Texas, Pennsylvania, Australia	0.33	TBD	TBD
Corebridge	12	1	$46,000,000	Multifamily (Mixed-Use)	5-year; nonrecourse; interest rate in low 5% range	Refinance	New York	0.125	TBD	TBD
MonticelloAM	69	5	$312,800,000	Healthcare (Skilled Nursing) (5)	Bridge loan (3), 36-month (2) + 2x 6-month ext	Refinance (2), Acquisition (3)	Florida, Illinois (2), South Carolina, Pennsylvania	0.625	3	TBD
Peachtree Group	54	4	$181,400,000	Hotel (2), Multifamily, Film Studio	C-PACE, 3-year bridge loan, 3-year floating-rate	C-PACE for construction, Construction (2), C-PACE for Refi	North Carolina (2), Ohio, Georgia	0.57	1	TBD
Tyko Capital	29	1	$410,000,000	Condominium	TBD	Construction	Florida	0.25	TBD	TBD
Apollo Global Management	147	6	$2,476,480,000	Industrial, Office, Multifamily (Conversion), logistics, industrial , Hotel	Senior secured financing across three separate loan facilities, Floating-rate debt, 36-month SOFR floating; Mezzanine fixed	Bridge for refinance, Construction (3), Refinance, Acquisition	New York (3), North Carolina, UK, Germany, Netherlands, Spain, Ireland, Poland	0.75	2	1
Ares Real Estate Management	52	2	$1,550,000,000	Casino/Entertainment, Multifamily	TBD	Construction, Refinance	New York (2), Illinois	0.33	TBD	TBD
New York Life	12	1	$35,700,000	Retail	5-year term with interest-only payments for full term	Bridge for refinance, Construction (2), Refinance	California	0.25	TBD	TBD
PGIM Real Estate	64	3	$549,435,000	Industrial, Mixed-Use, Retail (grocery)	Fixed and floating rate components	Acquisition, Refi (2)	Florida, California, Texas, Massachusetts, Germany	0.375	2	1
Starwood Property Trust	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Deutsche Bank - Growth Cap	41	2	$3,015,000,000	TBD	Revolving credit facility	Acquisition, Working Capital	Spain, Switzerland	0.5	TBD	1
HSBC	67	3	$2,003,000,000	TBD	MIGA-guaranteed; Climate-linked conditions, 95% covered buyer credit guarantee, Put option arrangement with exit path in three years with certain returns	Growth Capital	Chile, France, Sweden	0.6	TBD	TBD
JP Morgan - Growth Cap	175	11	$6,068,250,000	TBD	4-year loan with 2 6-month extension, SOFR plus 77.5 bps & 15 bps facility fee, Term loan (3 year loan with 1-yr extension & SOFR plus 85 bps), 2 years with three 1-year extension options, Revolving facility due February 2030 with two six-month extension options, 7-year Term Loan, 5-year revolving credit facility	Revolving Credit Facility (2), Senior Secured Revolver (3), Acquisition Credit Facility, Unsecured Term Loan (2)	New York (2), Texas (2), New Jersey, Illinois (2), California (2), Canada	1.375	2	1
Natixis - Growth Cap	15	1	$1,500,000,000	TBD	Three-year construction warehouse revolving credit facility with $500M accordion	Construction Warehouse Revolving Credit Facility	Texas	0.2	TBD	TBD
PNC Bank	102	7	$4,250,000,000	TBD	4-year loan with 2 6-month extension-SOFR plus 77.5 bps & 15 bps facility fee, Term loan (3 year loan with 1-yr extension-SOFR plus 85 bps), 5 years-matures 1/15/2031-SOFR + 1.15% to 1.65% depending on leverage, Three-year construction warehouse revolving credit facility with $500M accordion	Revolving Credit Facility, Five-Year Unsecured Term Loan, Unsecured Term Loan (5), Construction Warehouse Revolving Credit Facility	New York, Washington, Illinois (2), Texas, Florida, California	1.4	1	TBD
Bank of America - Growth Cap	49	3	$4,938,250,000	TBD	4-year loan, 4-year loan with an option for two 6-month extensions or one 12-month extension, SOFR plus 77.5 bps, 15 bps facility fee, Term Loan: Initial maturity January 31, 2029 with two 1-year extensions, SOFR plus 85 bps, Three-year construction warehouse revolving credit facility with $500M accordion	Revolving Credit Facility; Unsecured Term Loan, Construction Warehouse Revolving Credit Facility	Canada, New York, Texas	0.6	TBD	TBD
Barclays - Growth Cap	57	3	$3,550,000,000	TBD	N/A	Senior Secured Green Revolving Loan and Letter of Credit Facility, Senior Secured Corporate Credit Facility	Pennsylvania, Texas, Spain	0.75	TBD	TBD
Goldman Sachs - Growth Cap	82	4	$2,950,000,000	TBD	6% interest rate with AMD guarantee	Acquisition, Senior Secured Credit Facility, Loan with Equipment Guarantee	Spain, Nebraska, Connecticut, California	0.5	TBD	TBD
Santander Bank - Growth Cap	79	4	$5,150,000,000	TBD	MIGA-guaranteed; Climate-linked conditions, Long-term optimisation agreement with guaranteed minimum income level providing downside protection, Three-year construction warehouse revolving credit facility with $500M accordion	Senior Secured Corporate Credit Facility, Acquisition, Construction Warehouse Revolving Credit Facility	Pennsylvania, Chile, Spain, Texas	0.8	1	TBD
Sumitomo Mitsui Banking Corporation (SMBC) - GC	79	4	$1,712,400,000	TBD	Senior Secured Green Revolving Loan and Letter of Credit Facility, 3-year availability period; 5-year tenor; partial guarantee from EIFO, Put option arrangement with exit path in three years with certain returns, 5-year Revolving Credit Facility	Senior Secured Green Revolving Loan (2) and Letter of Credit Facility, Senior Secured Corporate Credit Facility	Texas, Denmark, Sweden, Louisiana	0.5	1	1
Citigroup - Growth Cap	95	5	$7,191,250,000	TBD	5-year loan, 4-year loan (secured to unsecured), 95% covered buyer credit guarantee, 5-year Interest at base rate, Term SOFR, EURIBOR	Acquisition (2), Growth Capital (2), Senior Secured Revolving Credit Facility	Canada, Spain, Florida, France, Texas	0.71	1	TBD
Huntington Bank - Growth Cap	69	5	$1,220,000,000	TBD	5 years, matures 1/15/2031; SOFR + 1.15% to 1.65% depending on leverage, Revolving facility with two six-month extension options (2)	Five-Year Unsecured Term Loan, Commercial Aircraft Engine Acquisition Facility, Unsecured Credit Facility (Revolver + Term Loans) (2), Revolving Credit Facility (2)	Washington, Illinois, California, Florida, Colorado	0.833	1	TBD
Morgan Stanley - Growth Cap	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Mitsubishi UFJ Financial Group (MUFJ) - Growth Cap	12	1	$150,000,000	TBD	5-year loan	Debt Financing	Florida	0.2	TBD	TBD
Truist Bank - Growth Cap	34	2	$1,050,000,000	TBD	2 years with three 1-year extension options, 4 years revolving credit facility with two six-month extension options (Pricing grid based on leverage ratio plus SOFR, 10-15 bps lower than prior debt)	Acquisition Credit Facility, Unsecured Credit Facility (Revolver + Term Loans)	New Jersey, Florida	0.4	TBD	TBD
Bank of Montreal (BMO) - Growth Cap	31	2	$2,618,250,000	TBD	Term loan under Softwood Lumber Program	Growth Capital (2)	Canada (2)	0.4	TBD	TBD
Canadian Imperial Bank of Commerce (CIBC)	49	3	$4,165,425,000	TBD	4-year loan (secured to unsecured), Three-year construction warehouse revolving credit facility with $500M accordion, Initial 3-year term with consecutive 1-year extension (prime rate + .75%)	Acquisition, Construction Warehouse Revolving Credit Facility, Growth Capital	Canada (2), Texas	0.42	1	1
ING Groep NV - Growth Cap	68	4	$3,403,000,000	TBD	Three-year construction warehouse revolving credit facility with $500M accordion, 95% covered buyer credit guarantee	Senior Secured Corporate Credit Facility, Senior Secured Green Revolving Loan and Letter of Credit Facility, Construction Warehouse Revolving Credit Facility, Growth Capital	Pennsylvania, Texas (2), France	0.8	1	TBD
Royal Bank of Canada	80	5	$5,093,250,000	TBD	4-year loan (secured to unsecured), 3-year loan with two one-year extension options; SOFR plus 85 bps; interest-only payments, Three-year construction warehouse revolving credit facility with $500M accordion, 2-year loan with potential 90-month extension	Acquisition, Refinance & Growth Capital, Construction Warehouse Revolving Credit Facility, Senior Secured Credit Facilities	Illinois, Canada (2), Texas, New York, Louisiana	0.625	2	TBD
Wells Fargo - Growth Cap	113	7	$6,313,250,000	TBD	4-year loan (secured to unsecured), 3-year loan with two one-year extension options; SOFR plus 85 bps; interest-only payments, with one-year extension option; SOFR plus 85 bps; interest-only payments, Three-year construction warehouse revolving credit facility with $500M accordion, Revolving facility with two six-month extension options	Acquisition, Refinance (2), Growth Capital (2), Construction Warehouse Revolving Credit Facility, Unsecured Credit Facility (Revolver + Term Loans)	Illinois (2), Canada, New York, Texas, California	1.4	1	TBD
Blue Owl Capital	24	1	$1,400,000,000	TBD	TBD	Delayed-Draw Term Loan	Germany	0.16	TBD	TBD
Comvest Partners	19	1	$130,000,000	TBD	TBD	Senior Secured Credit Facility	California	0.125	TBD	TBD
MidCap Financial	16	2	0	TBD	Revolver with accordion feature; term loan; delayed draw term loan	Senior Secured Credit Facility (Revolver), Senior Secured Credit Facility (Revolver + Term Loan + DDTL)	Colorado, California	0.4	1	TBD
Mountain Ridge Capital	8	1	$15,000,000	TBD	Revolving facility maximizing availability against working capital assets	Senior Secured Credit Facility	Midwest	0.25	TBD	TBD
SLR Credit Solutions	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Blackstone - Growth Cap	29	1	$600,000,000	TBD	TBD	Growth Capital	India	0.14	TBD	TBD
Hercules Capital	12	1	$25,000,000	TBD	4-year loan with three tranches up to $75M milestone-based, final $25M at Hercules discretion	Growth Capital	California	0.25	TBD	TBD
Monroe Capital	74	7	$100,000,000	TBD	Prime plus 3.75% (currently 10.50%); 60-month term with amortization at month 36 (or month 48 if milestones met)	Senior Secured Term Loan (6), Debt Financing + Equity Co-Investment	Delaware, New York, Michigan, Illinois, Florida (2), Iowa	0.875	4	TBD
SG Credit Partners	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Stellus Capital Management	16	2	Undisclosed	TBD	TBD	Senior Debt Financing and Equity Co-Investment (2)	Viriginia, Tennessee	0.4	1	TBD
HPS Investment Partners	29	1	$500,000,000	TBD	Four-year secured term loan, SOFR + 675 basis points	Secured Term Loan	New York	0.2	1	TBD
NXT Capital	24	2	Undisclosed	TBD	TBD	Senior Credit Facility	Pennsylvania (2)	0.25	TBD	TBD
Siena Lending Group - GC	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Trinity Capital	27	2	$83,915,000	TBD	Commitment structure	TBD	United Kingdom	0.25	TBD	TBD
Wingspire Capital	36	3	$120,000,000	TBD	N/A	Senior Secured Revolving Credit Facility	Florida	0.66	1	1
Ares Management - Growth Cap	67	2	$4,000,000,000	TBD	TBD	M&A, Debt Facility	New Jersey, Colorado	0.33	1	TBD
Encina Private Credit	15	1	$75,000,000	Consumer lease-to-own contracts	Senior credit facility secured by diversified pool of small balance lease-to-own contracts	Senior Credit Facility	TBD	0.25	TBD	TBD
Great Rock Capital - GC	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
KKR	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Whitehawk Capital Partners	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Advantage Business Capital	8	1	$1,000,000	Invoices	TBD	Invoice Factoring Facility	TBD	0.16	TBD	TBD
First Citizens Bank - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Gibraltar Business Capital	8	1	0	TBD	TBD	Senior Secured Facility	TBD	0.25	TBD	TBD
nFusion Capital	24	3	$13,000,000	Accounts receivable and inventory, Inventory	TBD	Asset-Based Lending Facility (2), Factoring Line	Colorado, California, Arizona	0.42	3	TBD
Culain Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
First Business Bank	32	4	$12,200,000	Vehicle inventory, Accounts Receivable	Factoring facility	Credit Facility, Inventory Floorplan, Factoring Facility (2)	Hawaii, Pennsylvania, Virginia	0.57	1	TBD
Great Rock Capital - ABL	49	3	$340,000,000	Accounts receivable and best-in-class machinery and equipment (2)	TBD	Senior Secured Revolver (3)	Pennsylvania	0.5	TBD	TBD
Rosenthal Capital Group	16	2	$4,000,000	Accounts receivable (2)	TBD	Recourse Factoring Facility (2)	California, Michigan	0.25	TBD	TBD
Ares Commercial Finance	12	1	$175,000,000	Accounts receivable; Machinery & equipment	TBD	Senior Secured Revolving Credit Facility	TBD	0.16	TBD	TBD
Sallyport Commercial Finance	8	1	$2,000,000	Accounts receivable	TBD	Accounts Receivable Facility	Canada	0.5	TBD	TBD
SLR Healthcare ABL	8	1	$7,000,000	TBD	TBD	Asset-Based Revolving Line of Credit	Northeast	0	TBD	TBD
Utica Equipment Finance	8	1	$11,000,000	Heavy equipment (trucks, trailers, dozers, excavators, graders, loaders, turf-farm machinery)	TBD	Capital Lease	Mid-Atlantic	0.25	TBD	TBD
Amerisource Business Capital	16	2	$9,000,000	Accounts receivable (2), commercial real estate	A/R Only Facility, Asset-Based Lending Facility	Asset-Based Lending Facility, A/R Only Facility	Midwest US, Texas	0.5	TBD	TBD
King Trade Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
MidCap Business Credit	24	3	$31,000,000	Accounts receivable (2), inventory (2), machinery and equipment, Distributor of specialty chemicals and materials	Working capital revolver and machinery/equipment term loan	Working Capital Revolver (2), Machinery and Equipment Term Loan, Asset-Based Credit Facility	TBD	0.75	TBD	TBD
White Oak Commercial Finance	15	1	$35,000,000	Various assets across UK and U.S. platforms (multi-currency facility)	$20M uncommitted accordion feature; structured in USD, GBP, EUR	ABL Revolver Facility	Texas	0.125	TBD	TBD
Loeb Equipment	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Prestige Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
JPalmer Collective	32	4	$15,000,000	Inventory (2)	Line of credit with flexible structure	Line of Credit (2), Debt Facility, Working Capital Facility (Asset-Based)	California, Oregon, New York, Georgia	0.8	1	TBD
Austin Financial Services	8	1	$10,000,000	TBD	TBD	TBD	TBD	0.2	0	1
eCapital	40	5	$31,500,000	Accounts receivable (2), Freight receivables (2)	ABL facility with advances against accounts receivable and inventory	A/R Financing Facility (3), Freight Factoring Facility (2)	Canada, Massachusetts	1	1	TBD
Porter Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Siena Lending Group - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Gateway Trade Funding	15	2	$500,000	Purchase orders (letter of credit-backed), Inventory	Letter of credit-backed	Purchase Order Facility (2)	TBD	0.33	TBD	TBD
Republic Business Credit	47	6	$23,000,000	Accounts receivable (3)	Ledgered line of credit, Includes $10 million accordion feature, Accordion up to $6M with $2M inventory lending option after 6 months upon meeting performance thresholds	Ledgered Line of Credit, Factoring Facility (3), Asset-Based Loan (2)	Northeast US, Southwest US, Midwest US, California, West Coast	0.75	2	TBD
SLR Business Credit	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
TAB Bank	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Alpine Ridge Funding	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Celtic Capital	23	3	$4,320,700	Accounts receivable (3)	AR Line (2), Equipment Loan (2)	Accounts Receivable Line of Credit (2), Equipment Loan	Pacific, South-Central US, California	0.375	TBD	TBD
Clarus Capital	8	1	$10,000,000	Essential use assets (medical transportation vehicles)	Loan facility for sponsor-backed company	Loan Facility	TBD	0.25	TBD	TBD
Gordon Brothers	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Assembled Brands	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
MidCap Financial - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Southstar Capital	75	10	$14,500,000	Invoices (4), Accounts receivable (5)	Accounts receivable (3), Flexible structure; potential payment assurance arrangements	Accounts Receivable Facility (7), Invoice Factoring Facility (3)	SouthEast US (2), Midwest, Indiana	1.25	3	TBD
Wintrust Equipment Finance	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
The Hedaya Capital Group	24	3	$11,000,000	Accounts receivable (2)	Factoring facility	Factoring Facility (3)	Texas, New Jersey, New York	0.42	1	TBD
Sigma Funding	15	2	$2,600,000	Accounts receivable (2)	TBD	Accounts Receivable Funding Facility (2)	California, Florida	0.28	TBD	TBD
Capteris	12	1	$25,000,000	New and existing assets acquired over past year	TBD	Lease Facility	TBD	0.5	TBD	TBD
Baker Garrington	38	5	$5,750,000	Accounts receivable (4)	Factoring facility	Factoring Facility (5)	Colorado, Oklahoma, Indiana, Louisiana, Texas	0.625	TBD	TBD

Tale of the Tape (YTD 2025)

Total Points: 376
Deals Logged: 29
Volume Drafted: $20.29 Billion*
Primary Asset Focus: Retail (7), Office (4), Industrial (4), Mixed-Use (4), Hotel, Energy
Most Common Loan Term: Five-year (7), Two-year (4), 10-year (2), 5.5 years, Seven-year, Specific Term Details (Interest-only (6), Floating-rate (5), Fixed-rate (5), Three one-year extension options (4), SOFR-based rates (3), Note (2))
Primary Loan Type: Refinance (14), CMBS (9), Construction (6), Acquisition (2)
Top States: New York (5), California (5), Florida (4), Massachusetts (4), Illinois (3), Maryland (2), Australia, UK.
Win-Loss-Draw: 3-6-3

SEE THEIR RANKING

Week	Opponent	Result	Score & Top Deal
12	Wells Fargo	Draw	10-10 (No Decisive Deal)
11	JP Morgan	Draw	0-0 (No Decisive Deal)
10	Morgan Stanley: Commercial Real Estate	Loss	0-7 ($147M CMBS Refi Manhattan, NY)
9	ING Bank: Commercial Real Estate	Win	28-0 (($1.6B CMBS Refi Loan, Multiple Cities, CA, NV, FL, IL, MD, PA, NJ)	Link to Deal
8	KeyBank: Commercial Real Estate	Win	10-0 ($370M 10-yar Construction Term Loan South Carolina)	Link to Deal
7	Goldman Sachs: Commercial Real Estate	Loss	0-14 ($820M Inland Empire/East Bay/Atlanta/DFW/Charlotte/Tampa CA/GA/NC/FL/TX)
6	Wells Fargo	Loss	0-35 ($1.2B Dallas, TX)
5	JP Morgan	Loss	0-24 ($507M Manhattan, NY)
4	Morgan Stanley: Commercial Real Estate	Loss	14-42 ($465M Boston, MA)
3	ING Bank: Commercial Real Estate	Draw	0-0 (No Decisive Deal)
2	KeyBank: Commercial Real Estate	Win	17-0 ($100M Boston, MA)	Link to Deal
1	Goldman Sachs: Commercial Real Estate	Loss	14-35 ($1.4B Manhattan, NY)

*Indicates a syndicated loan. Per “The Lead Arranger & The Syndicate Rule”, scoring is based on the lender’s specific allocation or lead arranger status. See The Rulebook for details.

LENDER OVERVIEW

Headquarters: Charlotte, NC
Founded: 1904
Ownership: Public Company (NYSE: BAC)
Primary Focus: Commercial Real Estate (Institutional/Corporate), CMBS, Refinance
Typical Deal Size: ~$700 Million [Average]

2025 PERFORMANCE SUMMARY

Bank of America finished the 2025 Lender Draft season with a 3-6-3 record, demonstrating limited competitive activity based on a win percentage of 25.0%. While the low win rate suggests a selective approach, the context is critical: many “losses” in this bracket represent shared victories in club deals where they participated but did not claim sole credit, or deals where they ceded the lead role to peers like Wells Fargo or JP Morgan.

The disparity between their limited win record and the massive $20.29 billion volume indicates a strategy of “whale hunting.” Their activity correlates directly with fiscal quarters, showing heavy concentrations in June (Q2 close) and November/December (Q4 close), aligning capital deployment with institutional reporting cycles.

DEAL FLOW ANALYSIS

Forensic analysis of Bank of America’s verified deal history reveals a clear preference for institutional stability and massive liquidity events.

Deal Size Range: The spectrum is vast, ranging from a $17.35M bridge loan in Irondequoit, NY, to a massive $2.8B CMBS portfolio acquisition for Blackstone. The median deal size far exceeds $500M.
Geographic Focus: Heavily concentrated in Gateway Markets—New York (Manhattan), California (LA/SF), Florida (Miami), and Massachusetts (Boston). Notably, they also executed international transactions in the UK and Australia.
Industry Patterns: Strong preference for REITs (Simon Property Group, Vornado, SL Green) and Private Equity giants (Blackstone, TPG).
Loan Structures: Dominance of CMBS execution for refinancing and acquisition. Floating-rate term loans with extension options are common for transitional assets.
Deal Purposes: Primarily Refinance (14 deals) and CMBS conduit lending (9 deals), with selective Construction financing.
Asset Types: Class A Office, Grocery-Anchored Retail, Industrial Portfolios, Data Centers.
Transaction Velocity: Velocity is high but clustered. They frequently close multiple multi-billion-dollar deals within a span of few weeks (e.g., Nov 4W 2025 saw a $700M Chicago office refi, and Nov 1W 2025 participated in a $1.6B industrial portfolio).

Strategic Insight

Loan Structure Evolution: The ratio of Refinance/CMBS (23 deals) to Acquisition (2 deals) signals a defensive posture. They are prioritizing the recycling of capital for existing institutional relationships rather than funding new market entrants or leveraged buyouts.

IDEAL BORROWER PROFILE

The ideal borrower for Bank of America, based on verified 2025 activity, is a publicly traded REIT or large-cap institutional fund requiring $500M+ in liquidity to refinance stabilized portfolios in primary markets.

FOR BORROWERS

CMBS Pipeline Dependency: A significant portion of their volume (9 specific CMBS notations) suggests their balance sheet capacity is linked to the securitization market. Deals that fit standard CMBS “conduit” boxes get approved faster than unique balance-sheet holds.
Action: If your request is under $100M, explicitly highlight “portfolio expansion potential” in your initial package. The $43.5M Miami residential deal suggests they will go smaller only for high-net-worth relationships or potential growth accounts.
Timing: Target submissions for early October or April. The data shows a massive closing wave in November/December and June. Getting into the pipeline 45-60 days prior ensures you catch the “quarter-end sweep.”

FOR BROKERS

Retail Specialist: While other lenders flee retail, Bank of America funded 7 major retail deals in 2025. This is your go-to lender for Class A Malls and grocery-anchored portfolios that others auto-decline.
Action: For large retail assets (malls/shopping centers), position BofA as the primary lead immediately. Use their 2025 track record (Simon, Westfield deals) to combat borrower skepticism about retail financing availability.
Strategy: On deals over $500M, emphasize the borrower’s existing relationship with other club banks (Wells, JPM). BofA is more likely to issue a term sheet if they know their “usual suspects” (co-lenders) are also interested.

FOR RIVAL LENDERS

Speed Vulnerability: Their draw/loss record against nimble players suggests they struggle with speed. The sheer complexity of their multi-bank syndications makes them vulnerable to lenders who can offer a “one-stop” balance sheet hold, even at a higher rate.
Action: Target borrowers in Bank of America’s portfolio who have loans in the $20M–$100M range (like the Irondequoit or North Miami deals). These are “small fish” to Bank of America and likely receive poor service compared to the $1B+ clients.
Defense: When competing against a Bank of America term sheet, highlight the execution risk of syndication. Remind the borrower: “BofA needs to find 5 other banks to close this; we have the cash on hand today.”

FOR ANALYSTS & FUNDS

Industrial Yield Compression: The massive volume of industrial CMBS (e.g., $1.6B Inland Empire/National portfolio) indicates spreads in this sector have compressed to the point where volume is the only way to generate significant yield.
The “Chicago Office” Long: While the broader market has red-lined Chicago CBD Office, this Bank of America led/participated in a $700M deal in Nov 2025. Action: Look for mispriced senior debt or mezzanine positions in Chicago Class-A assets, as smart money (JPM/BofA) is stepping back in.
Bypass Multifamily: Bank of America’s near-total absence from Multifamily (despite it being a “safe” asset class) suggests they see better risk-adjusted returns in Niche Infrastructure (Data/Power). Action: Rotate capital allocation from Multifamily to Industrial/Data Center logistics.