GRB Chief Lending Officer Tim Jones Talks 2025 Commercial Real Estate Outlook with the RBJ

ITN Tim Jones RBJ 2

With 2024 winding down, there are some positive signs that 2025 may be “cautiously optimistic” for the local commercial real estate (CRE) market.

While higher interest rates and inflation had a significant impact on CRE lending in the last 12 to 14 months, GRB Chief Lending Officer Timothy Jones sees a more “settled” 2025.

Chief Lending Officer Timothy Jones photo
Chief Lending Officer Timothy Jones

“We had to do a lot of blocking and tackling and we were talking to our customers very often about their deposit rates, certainly, and what that meant overall, in terms of the lending side as well,” Jones said.

Communicating with borrowers about their construction budgets was key.

“We are engaged currently in some construction projects, and we’ll continue to do that, but we are very cognizant in talking to borrowers about making sure their construction budgets are ticked and tied.”

But Jones also sees opportunity in the region moving into 2025. In particular, areas like multifamily housing are fueling lending demand in response to Western New York’s housing inventory shortage.

“We’re certainly cautiously optimistic that Rochester will continue to be somewhat resilient relative to the rest of the country in terms of employment and inflation and all those things,” Jones said. “And as a community bank, we want to be able to support any type of project that needs to be financed in some form.”

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