Banks Coming Back Home in Apartment Boom

Banks Coming Back Home in Apartment Boom

The Minneapolis Star Tribune (8/6, Bjorhus, 328K) reports, "Twin Cities banks are cashing in on the surge of multifamily construction, jostling to do business again with real estate developers." This is "a sharp twist from the post-crash years when toxic concentrations of commercial real estate loans brought down so many small community banks and larger banks all but pulled out of construction and development lending." The piece adds, "The apartment boom - more than 14,000 units have been proposed or are under construction in the Twin Cities, according to researcher Mary Bujold - is a bright spot in loan demand for banks."