A German global banking and financial services company, Deutsche Bank, has become the largest commercial real estate lender in New York city for the first time in 2016.
Deutsche Bank is a global banking and financial services company from Germany. The company’s current Headquarters is at Deutsche Bank Twin Towers in Frankfurt.
The lender has expanded its lending to more than a third while competitors are slowing down, due to the increasingly strict inspection from regulators.
Deutsche Bank had previously been positioned fifth place in the rankings compiled by CrediFi.
The jump is believed to be due to its work with Donald Trump in his multiple developments around the city.
The company is also tied to other President Trump’s developments in different locations, such as the Trump National Doral, a golf complex located near Miami.
Despite the city’s commercial property market shrinking by nearly 20 per cent in 2016 to $82 billion, Deutsche Bank lent $5.9 billion, a 37 percent increase from the previous year.
Some of the transactions carried out by Deustche Bank included 85 10th Avenue, a previously used as a cookie factory, now home to the largest web search engine, Google.
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