Brad Dubeck
Senior Vice President and New York and New Jersey Market Executive at Bank of America
Last year's rank: 16
Bank of America’s 2021 included the origination of commercial real estate loans totaling approximately $33 billion for its nationwide commercial, corporate and affordable housing clients. Additionally, the bank originated $9.7 billion of commercial real estate loans through its real estate structured finance platform.
“In 2021, Bank of America’s commercial real estate-focused teams navigated a challenging environment by remaining focused on our clients and making positive impacts in the communities we serve,” Brad Dubeck said.
The company also reported that its community development banking (CDB) business “provided $6.6 billion in loans, tax credit equity investments and other real estate development solutions in 2021, surpassing a record of $5.9 billion in financing in 2020,” according to a company press release.
The company noted that CDB deployed $4.1 billion in debt commitments and $2.5 billion in investments for affordable housing and economic development commitments.
“CDB-financed developments produced more than 13,000 housing units, of which 90 percent (more than 11,600) were affordable,” according to B of A. This number included 3,200 units for seniors, 3,400 for veterans in need, and 5,500 certified green units.
CDB also provided $1.6 billion to finance 3,300 housing units that includes access to health-related services, and more than $368 million to minority- or woman-led affordable housing developers, resulting in 1,500 affordable units.
The company also says that in April 2021 it became the first bank to launch a fund dedicated to supporting developers of color, contributing a $60 million investment. —L.G.
