CRE Financing Rates Breakdown By Property Type | November 2023
Terrydale Capital
Nov 15, 2023 4 Min read
At Terrydale Capital, we are constantly keeping our thumb on the market as we actively quote on all varieties of commercial real estate assets. As we seek the most competitive financing avenues on the market for our clients, we have compiled a list of financing rates we have been seeing in the market across the nation tailored to specific assets.
Multifamily
Rate Range: 6.25% - 9.75%
Quoted Average: 7.21%
With treasuries seeing rates go down as of late, agency options have emerged as great avenues for investors in the multifamily space. Additionally HUD options have grown for these assets especially when it comes to refinancing.
Industrial
Rate Range: 7.50% - 11.00%
Quoted Average: 8.35%
As we continue to quote on industrial investments, we have found a competitive consistency coming from credit unions when it comes to interest rates.
Self-Storage
Rate Range: 7.75% - 11.25%
Quoted Average: 8.63%
Much like industrial investments, we have found a competitive interest rate range coming from the credit union side.
Retail
Rate Range: 6.25% - 10.51%
Quoted Average: 8.23%
With more emphasis on tenancy and more localized focus on projects, we have found the most competitive avenues for retail coming from credit unions and banks.
Land
Rate Range: 7.75% - 13.00%
Quoted Average: 11.56%
In the current market, many traditional lenders have become more strict when it comes to lending on land assets and have been very reserved when it comes to speculative projects. This has, in turn, led to higher overall rates.
Single Family Portfolio
Rate Range: 6.50% - 11.00%
Quoted Average: 7.96%
Much like in the multifamily sector, agency loans have emerged as top competitors for individual and portfolio projects. Additionally, HUD options have proven rather competitive.
Office
Rate Range: N/A
Quoted Average: N/A
With slowed market activity and more selective lending criteria, office space is still recovering from the large hit taken in the years since the Covid peak. With some activity beginning to burgeon, lenders are very selective on taking on office projects.
*Rates are dependent upon financing leverage, borrower creditworthiness, asset, location, lender and more. For an accurate quote on your commercial asset, contact us at Terrydale Capital or submit your deal to Terrydale Live for a financing quote within 24-hours.
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Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
