The Australian syndicated loan market is on track to have its worst year in six years, with a decline in loan volumes of more than 20 per cent from 2015.According to figures compiled by Bloomberg, as of early December year-to-date loan volume was A$89.4 billion - 22 per cent below the value of syndicated lending last year.Bloomberg's finding is backed up by KPMG, whose most recent Debt Market Update reported that syndicated loan market volume in the first three quarters of the year was down 29 per cent, compared with the previous corresponding period.KPMG said the September quarter was the worst for some years, with lending of US$11.1 billion down 46 per cent, compared with the September quarter last year.KPMG put weak market conditions down to the timing of the corporate refinancing cycle, a subdued mergers and acquisitions market and lower business capital expenditure.Mining, oil and gas sector transactions have fall from around 20 per cent of syndicated loan business in 2015 to around five per cent this year.Bloomberg said commercial real estate was the one strong sector in the syndicated loan market, with the volume of loans up four-fold this year. Bloomberg said there have been 15 syndicated loans for land development, construction and property acquisitions worth A$3.37 billion so far this year - the highest volume since 2013.Some of the year's big property-related loan deals include Walker Corp's $1.05 billion Collins Square development and Blackstone Private Equity's A$28 million acquisition of a portfolio of industrial properties from Goodman Group.