The following rankings are based on responses to NREI's Top Lender questionnaire, and reflect total dollars financed or arranged in commercial real estate during the 2000 calendar year. The listings are presented in two parts. The first listing includes firms financing direct loans, credit lines, CMBS lending and other forms of more direct investment to the industry. The second listing ranks financial intermediaries, including mortgage brokers and financial firms that arranged or facilitated transactions during 2000. Definitions of direct lender vs. financial intermediary were provided to each respondent. Please note that some lending institutions chose not to participate in this year's survey for a variety of reasons.

1. GMAC Commercial Mortgage Corp.
200 Witmer Rd.
Horsham, PA 19044
Phone: (215) 328-4622
Fax: (215) 328-1976

Officers:
David E. Creamer, CEO; Charles E. Dunleavy Jr., President/COO; Harold W. Parcell, Exec. VP

Financed in 2000: $14,765,000,000

2. Bank of America
600 Peachtree St., 55th Floor
Atlanta, GA 30308-3318
Phone: (404) 607-6050
Fax: (404) 607-6101

Officers:
Michael R. Buchanan, Managing Director

Financed in 2000: $12,000,000,000

3. Lehman Brothers
200 Vesey St.
New York, NY 10285
Phone: (212) 526-5191
Fax: (212) 526-7005

Officers:
Mark Walsh, Managing Director; Kenneth Cohen, Managing Director; Larry Kravetz, Sr. VP; Brett Ersoft, Sr. VP

Financed in 2000: $10,200,000,000

4. GE Capital Real Estate
292 Long Ridge Rd.
Stamford, CT 06927
Phone: (888) GEFIRST
Fax: (202) 357-4475
Web site: www.gecapitalrealestate.com

Officers:
Michael Prolle, President/CEO; David Henry, Chief Investment Officer; Joan Lavis, SR. VP - Mktg.

Financed in 2000: $9,500,000,000

5. First Union Real Estate Capital Markets
201 S. College St.
Charlotte, NC 28288-0166
Phone: (888) 217-9084
Web site: www.firstunion.com

Officers:
Ben Williams, Managing Director - Real Estate Capital Markets; Bill Green, Managing Director - Real Estate Securitizations; Hillary Cooper, VP - Capital Markets Mktg.

Financed in 2000: $6,500,000,000

6. Key Commercial Real Estate
127 Public Square
Cleveland, OH 44114
Phone: (888) KEY-2221
Fax: (216) 689-3814
Web site: www.key.com/cre

Officers:
George Emmons, National Manager; John E. Case, President - Key Commercial Mortgage; Miles Milton, Director - Institutional Mktg.; Dave Reavis, Asst. VP - Line of Bus. Communicatons

Financed in 2000: $6,500,000,000

7. Credit Suisse First Boston (CSFB)
11 Madison Ave.
New York, NY 10010
Phone: (212) 325-2000
Web site: www.csfb.com

Officers:
Rob Brennan, Managing Director - CSFB; Karen Quinn, President - Column Financial

Financed in 2000: $6,000,000,000*
*Lending total includes figures from Column Financial Inc. and DLJ

8. Freddie Mac
8100 Jones Branch Drive,
Mail Stop B47
McLean, VA 22102
Phone: (703) 714-2720
Fax: (703) 714-3386
E-mail: mitchell_kiffe@freddiemac.com
Web site: www.freddiemac.com

Officers:
Adrian Corbiere, Sr. VP - Multifamily; H. L. Van Varick, VP - Negotiated Transactions; Mitchell Kiffe, VP - Loan Production

Financed in 2000: $5,930,000,000
Financed by Region:
Northeast:
$1,180,000,000
Southeast: $1,740,000,000
Midwest: $1,390,000,000
West: $1,620,000,000

9. HypoVereinsbank
150 E. 42nd Street
New York, NY 10017
Phone: (212) 672-5711

Officers:
Peter Hannigan, Manager Director

Financed in 2000: $5,800,000,000

10. Column Financial Inc.
3414 Peachtree St., Suite 1140
Atlanta, GA 30326
Phone: (404) 239-5339
Fax: (404) 239-0419
E-mail: kquinn@colfin.com
Web site: www.columnfinancial.com

Officers:
Kieran P. Quinn, President/CEO; Darrell Moore, Sr. VP

Financed in 2000: $4,100,000,000
Financed by Region:
Northeast:
$2,450,000,000
Southeast: $550,000,000
Midwest: $400,000,000
Southwest: $275,000,000
West: $425,000,000

11. Morgan Stanley
1585 Broadway
New York, NY 10036
Phone: (212) 761-6282
Fax: (212) 761-3289

Officers:
John Westerfield, Managing Director; Anthony Tufariello, Managing Director; James Flaum, Managing Director; Fred Harmeyer, Principal

Financed in 2000: $4,000,000,000
Financed by Region:
Northeast:
$1,700,000,000
Southeast: $600,000,000
Midwest: $400,000,000
Southwest: $300,000,000
West: $1,000,000,000

12. Prudential Mortgage Capital Co.
100 Mulberry St.
Newark, NJ 07102
Phone: (973) 802-7500
Fax: (973) 367-8210
E-mail: pru_mortgage_capital@prudential.com
Web site: www.prudential.com

Officers:
David Twardock, President; David Durning, Managing Director; Amy Rubin, Director - Marketing

Financed in 2000: $3,554,000,000

13. CIBC World Markets
One World Financial Center
New York, NY 10281
Phone: (212) 667-6851
Fax: (212) 571-4714
E-mail: michael.higgins@us.cibc.com

Officers:
Michael Higgins, Managing Director; Barrie Wood, Managing Director; Andrew Fawer, Exec. Director

Financed in 2000: $3,500,000,000


14. Goldman, Sachs & Co.
85 Broad St.
New York, NY 10004
Phone: (212) 902-1000
Fax: (212) 902-3000

Financed in 2000: $3,500,000,000


15. TIAA-CREF
730 Third Ave.
New York, NY 10017
Phone: (212) 916-4144
Fax: (212) 916-6005

Officers:
John H. Biggs, Chairman/President/ CEO; Martin L. Leibowitz, Vice Chairman/Chief Investment Officer; Joseph W. Luik, Sr. Managing Director - Mortgage & Real Estate; Claire Sheahan, Press Relations Officer

Financed in 2000: $3,270,000,000
Financed by Region:
Northeast:
$840,000,000
Southeast: $600,000,000
Midwest: $230,000,000
Southwest: $140,000,000
West: $1,440,000,000
International: $20,000,000


16. JP Morgan Mortgage Capital Inc.
400 Perimeter Center Terrace,
Suite 575
Atlanta, GA 30346
Phone: (770) 351-8300
Fax: (770) 351-8399

Officers:
Michael Jungman, Chairman; Lamar Kelly, President/CEO; Barbara Pereira, VP

Financed in 2000: $3,173,000,000
*Lending total includes combined conduit figures of JP Morgan Mortgage Capital and Chase Commercial Mortgage


17. National City Corp.
1900 E. Ninth St.
Cleveland, OH 44114
Phone: (216) 575-2332
Fax: (216) 575-9650

Officers:
Kenneth M. Goetz, Exec. VP

Financed in 2000: $3,000,000,000


18. Berkshire Mortgage Finance
One Beacon St., 14th Floor
Boston, MA 02108
Phone: (877) 523-7722
Fax: (617) 556-1507
E-mail: mnachreiner@bmfloan.com
Web site: www.berkshiremortgage.com

Officers:
Peter F. Donovan, CEO; Ronald F. Halpern, COO; Michelle Nachreiner, National Mktg. Manager

Financed in 2000: $2,560,000,000
Financed by Region:
Northeast:
$429,928,900
Southeast: $414,683,439
Midwest: $521,414,600
West: $1,234,995,576


19. David L. Babson & Co./Mass Mutual
1295 State St.
Springfield, MA 01111-0001
Phone: (800) 767-1000
Fax: (413) 744-6123
Web site: www.dlbabson.com

Officers:
David Brassard, Managing Director; Dave Lauretti, Managing Director

Financed in 2000: $2,300,000,000


20. Greenwich Capital
600 Steamboat Rd.
Greenwich, CT 06830
Phone: (203) 625-2700
Web site: www.gcm.com

Officers:
Ben Carpenter, Co-CEO; Jay Levine, Co-CEO; Paul Nidenberg, Managing Director; Marjorie Klein, VP/Director of Corp. Communications

Financed in 2000: $2,057,000,000
Financed by Region:
Northeast:
$203,000,000
Southeast: $137,000,000
Midwest: $227,000,000
Southwest: $53,000,000
West: $587,000,000
Unallocated: $850,000,000

21. ARCS Commercial Mortgage Co. LP
26901 Agoura Rd., Suite 200
Calabasas Hills, CA 91301
Phone: (800) ASK-ARCS
E-mail: info@arcscommercial.com
Web site: arcscommercial.com
Fax: (818) 880-3330

Officers:
Howard J. Levine, President/CEO; Timothy L. White, Exec. Sr. VP/COO; Hollis J. Leon, Sr. VP; Arthur Nissman, Corp. Communications

Financed in 2000: $1,751,326,850
Financed by Region:
Northeast:
$384,410,296
Southeast: $55,569,630
Midwest: $89,488,057
Southwest: $155,988,100
West: $1,065,870,767

22. Deutsche Banc Mortgage Capital LLC
31 W. 52nd St., 10th Floor
New York, NY 10019
Phone: (888) 953-DBMC
Fax: (212) 469-0053
Web site: www.dbmortgagecapital.com

Officers:
Lawrence Brown, President/CEO; Ken Dickey, COO

Financed in 2000: $1,250,000,000
Financed by Region:
East:
$500,000,000
South: $312,500,000
Midwest: $187,500,000
West: $250,000,000

23. Heller Financial Inc.
500 W. Monroe St.
Chicago, IL 60661
Phone: (866) 243-5537
Web site: www.hellerfinancial.com

Officers:
John Petrovski, Group President; Craig Andreen, Managing Director, Structured Lending; Joanne Kim, Mktg. Director

Financed in 2000: $1,240,000,000

24. Bear, Stearns & Co. Inc.
245 Park Ave.
New York, NY 10167
Phone: (212) 272-7918
Fax: (212) 272-7047
E-mail: choeffel@bear.com
Web site: www.bearstearns.com

Officers:
J. Christopher Hoeffel, Sr. Managing Director; Barry Schumacher, Managing Director; Jeff Taschler, Managing Director

Financed in 2000: $1,200,000,000
Financed by Region:
Northeast:
$327,000,000
Southeast: $354,000,000
Midwest: $212,000,000
Southwest: $99,000,000
West: $208,000,000

25. Saybrook Capital Corp.
401 Wilshire Blvd., Suite 850
Santa Monica, CA 90401
Phone: (310) 899-9200
Fax: (310) 899-9101

Officers:
Jonathan Rosenthal, Partner; Jon Schotz, Partner; Joel Shine, Partner; Mohini Parsons, Mktg. Director

Financed in 2000: $1,200,000,000
Financed by Region:
Northeast:
$200,000,000
Midwest: $100,000,000
West: $900,000,000