The dollar volume of commercial and multifamily mortgages closed in 2012 rose 33% when compared to  2011 volumes, the Mortgage Bankers Association said in its multifamily and commercial originations report.

Commercial and multifamily mortgage bankers closed $244.2 billion of loans in 2012.

Additionally, multifamily properties saw the highest origination volume with $103.2 billion, the MBA reported.

"The multifamily market continued to be a major driver of activity, and nearly every investor group increased their activity from the year before," said Jamie Woodwell, MBA’s vice president of commercial real estate research.   

She expanded saying, "With a continuation of low interest rates and improving property markets, originations are on track for continued growth this year."