Bank Of America Targets Commercial Real Estate For 2009 And 2010
Posted By thestatedtruth.com on January 12, 2010
![[REITBANK]](http://s.wsj.net/public/resources/images/MI-BA793_REITBA_NS_20100112183317.gif)
Bank of America  blew away the competition last year in the business of underwriting stock offerings by commercial real-estate firms. The secret of success: Bank of America leveraged its relationships with real-estate borrowers to generate a flood of investment-banking work, much of it handled by former Merrill bankers who decided to stick around after the securities firm was acquired last year.
Bank of America is a lead lender on $43 billion in outstanding credit facilities to 53 different real-estate investment trusts, or REITs, more than any other bank, according to SNL Financial Inc. Last year, as access to capital became scarce for real-estate owners, these lending relationships went a long way in building market share for the bank’s investment-banking arm, which also was bolstered by the team that joined the firm as part of Bank of America’s acquisition of Merrill Lynch in 2009.
Source…….www.wsj.com
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