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June 24, 2024 / 2024 Power 25 Real Estate

2024 Power 25 Real Estate: Christopher Arnold

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It’s no secret that multifamily development has been one of the most active commercial realty sectors in Connecticut, with numerous new projects being announced or coming online in recent years.

A key multifamily financier has been Middletown-based Liberty Bank, whose efforts are led by Christopher Arnold, the mutual lender’s senior vice president and department head of commercial real estate lending.

According to Arnold, the $7.6 billion-asset Liberty Bank has or is financing the construction of numerous marquee multifamily projects, including: One Park in West Hartford; Kelson Row in Rocky Hill; Brainerd Place in Portland; Star Deluxe in Branford; The Beam in New London; Heights Crossing in Darien; Residences at Quarry Walk in Oxford; The Archway in North Haven; and 188 Lafayette St. in New Haven.

Arnold joined Liberty Bank as head of commercial real estate lending in April 2008, and is responsible for a portfolio with assets in excess of $2.5 billion. His team specializes in the origination of permanent and construction mortgages in Connecticut and western Massachusetts, in the typical range of $5 million to $75 million.

Prior to joining Liberty Bank, Arnold spent 23 years at the former People’s United Bank in Bridgeport, primarily in the role of commercial real estate group regional manager.

Besides multifamily, Arnold — a UConn alum, who has been a featured speaker at numerous industry events — said he’s seen a lot of activity in the distribution/logistics space.

Recently, Arnold said he’s also observed a pull-back from the competition, with numerous lenders sitting on the sidelines amid a high interest rate environment.

“This often comes to light when we explore a potential loan participation and receive feedback that options are limited right now,” he said. “Challenges most often cited in the industry include concerns about high cost of funds and a high loan-to-deposit ratio.”

Multifamily and industrial continue to be preferred asset types, he said, and attract the most competition by lenders.

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