Hilary Provinse
Executive vice president for production and capital markets at Berkadia
Last year's rank: 28
Berkadia came out on top in 2025 in one sense, finishing as the No. 1 agency lender across Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development.
“We did $35 billion of originations on the debt side, which was up from 2024,” Hilary Provinse said. “Not only were we the largest source of capital, but we did deals with 235 unique capital sources. We touched a lot of different lenders over the course of the year to make sure that our clients got the best execution.”
That production, which included 1,610 total loans, included working with Citigroup to provide a $700 million CMBS loan for an 18-property multifamily portfolio throughout the Sun Belt, $142 million of construction-permanent financing through HUD for a new mixed-use residential development in San Francisco, and a 10-year, $84.1 million refi loan for a mixed-use development in Virginia.
Provinse said that Berkadia’s ability to put all of its specialties to use has been a significant factor in its success.
“We would bring other tools of the platform to our debt clients,” she said. “We did over $16 billion of investment sales transactions, so that provided value to our clients. Oftentimes, we would finance those deals. We have really strong balance sheet lending products that we would offer to our clients that complemented other, products that may not have been accessible through other lenders. We brought on board a new equity and structured capital team, so we were able to put equity structures in place with our clients to deliver debt. We tried to do a good job of complementing our other product lines and then connecting that with our debt execution.”
Provinse said success in today’s market requires fulfilling more than just one client need, and that philosophy led to Berkadia’s excellent 2025.
“Being more of a holistic financial adviser, in the capital market sense, to your clients versus ‘I can just do your debt’ is really important these days,” said Provinse. “I think we did a good job of that last year.”
The Stories Behind the List
