Sample report · commercial real estate

50 Best Real Estate Capital Sources

A real edition, 37 pages, generated from the live graph on September 29, 2026 for the brief below.

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The brief

We are recapitalising a 240-unit multifamily asset in Boston. Find the debt funds, banks and equity sources that have financed comparable assets in the market in the last two years.

618

multifamily conduit loans since 2024, nationally

of them in Massachusetts, 1 in Boston

$16.2B

multifamily loans held by the 23 banks ranked

capital sources ranked

The top five, as printed

Ranked on the loans, books and vehicles on file, never on a pitch

#	Capital source	Fit	Kind	Market evidence	Scale	Latest
1	Citi	98.5	Conduit bank	1 in Boston	$2.8B, 106 loans	2026-07-07
2	Battery Global Advisors, LLC	97.7	Equity manager	based in Boston	$1.1B gross assets	2026-06-30
3	Fidelity Diversifying Solutions LLC	97.2	Debt fund manager	based in Boston	$219M gross assets	2026-08-20
4	The Davis Companies	97.2	Equity manager	based in Boston	$2.0B gross assets	2026-04-29
5	Berkshire Property Advisors, LLC	96.7	Debt fund manager	based in Boston	$2.1B gross assets	2026-03-30

What was refused

Eight candidates screened out, with reasons

Conduit lenders with no Massachusetts loan and fewer than three comparables nationally in two years (6)
Banks whose hold capacity, 15 percent of equity, is below the smallest local comparable loan of $21M (2)
Banks with no multifamily loans on the balance sheet
Fund managers whose latest Form ADV no longer swears a real estate vehicle

What DFX cannot see, stated

The limitations are printed, not buried

The conduit tape is a thin slice of multifamily lending: agency, life company, debt fund and most bank loans are not on it, which is why the banks are ranked beside it.
A bank's evidence is its book at the June 2026 call report, not a dated Boston loan.
Hold capacity uses equity as a proxy for the capital behind the legal lending limit; participations let a bank lead larger loans.
Gross asset value is a fund's assets on a filing date, never fund size or dry powder; strategy is read from vehicle names and labelled where it is a candidate reading.

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50 Best Real Estate Capital Sources

Ranked on the loans, books and vehicles on file, never on a pitch

#	Capital source	Fit	Kind	Market evidence	Scale	Latest
1	Citi	98.5	Conduit bank	1 in Boston	$2.8B, 106 loans	2026-07-07
2	Battery Global Advisors, LLC	97.7	Equity manager	based in Boston	$1.1B gross assets	2026-06-30
3	Fidelity Diversifying Solutions LLC	97.2	Debt fund manager	based in Boston	$219M gross assets	2026-08-20
4	The Davis Companies	97.2	Equity manager	based in Boston	$2.0B gross assets	2026-04-29
5	Berkshire Property Advisors, LLC	96.7	Debt fund manager	based in Boston	$2.1B gross assets	2026-03-30

Eight candidates screened out, with reasons

Conduit lenders with no Massachusetts loan and fewer than three comparables nationally in two years (6)

Banks whose hold capacity, 15 percent of equity, is below the smallest local comparable loan of $21M (2)

Banks with no multifamily loans on the balance sheet

Fund managers whose latest Form ADV no longer swears a real estate vehicle

The limitations are printed, not buried

The conduit tape is a thin slice of multifamily lending: agency, life company, debt fund and most bank loans are not on it, which is why the banks are ranked beside it.

A bank's evidence is its book at the June 2026 call report, not a dated Boston loan.

Hold capacity uses equity as a proxy for the capital behind the legal lending limit; participations let a bank lead larger loans.

Gross asset value is a fund's assets on a filing date, never fund size or dry powder; strategy is read from vehicle names and labelled where it is a candidate reading.

50 Best Real Estate Capital Sources

Ranked on the loans, books and vehicles on file, never on a pitch?How fit is scoredFit blends local evidence (35%), fit to multifamily and to the size this market writes (25%), scale (20%) and recency (20%), each read on its own evidence for conduit lenders, banks and fund managers.

Eight candidates screened out, with reasons

The limitations are printed, not buried

50 Best Real Estate Capital Sources

Ranked on the loans, books and vehicles on file, never on a pitch?How fit is scoredFit blends local evidence (35%), fit to multifamily and to the size this market writes (25%), scale (20%) and recency (20%), each read on its own evidence for conduit lenders, banks and fund managers.

Eight candidates screened out, with reasons

The limitations are printed, not buried

Ranked on the loans, books and vehicles on file, never on a pitch

Ranked on the loans, books and vehicles on file, never on a pitch