NationsBank Corp. on Monday announced the formation of an integrated real estate financing group, combining all real estate activities conducted by the bank's global finance business within a single operating unit.
The new NationsBank Real Estate Group will be headed by William A. Hodges. He previously served as president for NationsBank in greater Washington, D.C., as well as commercial banking executive for the Mid- Atlantic region.
Bank officials said NationsBank aims to become the premier provider of financing for real estate.
NationsBank produced $6.8 billion in commercial mortgages in 1995. Underwriting of commercial mortgage backed securities by the Charlotte, N.C., superregional has grown from $100 million in 1993 to $3.4 billion in 1995. The group anticipates 1996 volume will reach $6.32 billion.
Multifamily, office, retail, warehouse, and hotel loans originated by the real estate division, and nursing home loans made by the health care group have been securitized and the resulting securities sold in numerous transactions with ratings ranging from triple-A to B.