Investor Real Estate Financing & Refinancing

Investor Real Estate
Financing & Refinancing

Commercial Real Estate Loans

Whether you’re acquiring a stabilized asset, refinancing an existing property, or repositioning a value-add opportunity, we finance income-producing commercial real estate – with permanent senior loans, CMBS, and short-term solutions structured around the deal in front of you. For financing tied to a specific property type – multifamily, retail, warehouse, office, mixed use, or special use – see Property Types for details specific to what you’re buying.

Explore Property Type

At a Glance

Uses	Purchase, rate-and-term refinance, cash-out refinance, renovations/repairs/improvements, blanket/portfolio financing
Term Options	5-10 year conventional; 10-year fixed CMBS; permanent senior loans with choice of rate, term, and amortization

Purchase & Refinance

We structure both purchase and refinance financing for investor-owned commercial real estate:

Purchase - permanent senior loans with your choice of rate, term, and amortization, plus bridge and short-term solutions for value-add or transitional deals
Rate-and-term refinance - improve your rate or term on an existing loan
Cash-out refinance - access built-up equity for other investments or business needs
Renovation, repair & improvement financing - fund capital improvements as part of a purchase or refinance

CMBS / Conduit Loans

Commercial Mortgage-Backed Securities (CMBS) loans, also known as conduit loans, are one of the most attractive options for stabilized properties with national credit tenants – typically offering some of the lowest fixed rates available, on 10-year terms priced against a benchmark like U.S. Treasuries or SOFR.

A conduit loan is packaged into a pool with similar commercial loans, securitized, and sold to institutional investors in the secondary market. The property and its cash flow serve as collateral, held in trust for the security. Two features set CMBS apart from other financing:

CMBS loans also carry specific protections against malfeasance or default risk, since the loan is a regulated security with a fixed period and return, not a standard bank relationship.

What Lenders Look For

Investor property underwriting centers on the asset’s income, not just your personal finances. Expect to provide:

A rent roll - a unit-by-unit breakdown of current tenants, lease terms, and rents, showing the property's actual income
T-12s (trailing 12-month operating statements) - the property's actual income and expenses over the past year, used to verify the numbers on the rent roll and calculate NOI
Loan-to-value (LTV) - conventional investor loans typically finance 65%–80% of the property's value, meaning a 20%–35% down payment
Debt Service Coverage Ratio (DSCR) - whether the property's income comfortably covers the proposed loan payment

Financing Multiple Properties

If you’re growing a portfolio rather than buying one asset at a time, a blanket (or portfolio) loan can finance multiple properties under a single loan – one closing, one payment, instead of managing several separate mortgages. This is especially common for investors building a single-family rental portfolio. See SFR Portfolio / Blanket Loans for a deeper look at how these are structured.

Ready to Finance
Your Next Investment?

Get Pre-Qualified

Property Type

Find Your Property Type

Underwriting varies by what you’re buying. See the page for your specific property type for details tailored to it:

Multifamily Property Loans

Explore More

Retail Property Loans

Explore More

Warehouse Property Loans

Explore More

Office Property Loans

Explore More

Mixed Use Property Loans

Explore More

Special Use Property Loans

Explore More

Frequently Asked Questions

What's the difference between a conventional bank loan and a CMBS loan?

Conventional bank loans are held on the lender’s own books and offer more flexibility on rate and term. CMBS loans are securitized and sold to investors, generally offering lower fixed rates on stabilized, credit-tenant properties, but with less flexibility on prepayment.

Can I refinance investor real estate for cash out?

Yes – cash-out refinancing is available on investor-owned commercial real estate, subject to loan-to-value and property performance requirements.

Is a CMBS loan assumable?

Yes. Unlike most conventional loans, CMBS loans can typically be assumed by a qualified buyer – a meaningful advantage if you sell in a higher-rate environment than when you originally closed.

What's a rent roll, and why do I need one?

A rent roll is a unit-by-unit summary of a property’s current tenants, lease terms, and rents. Lenders use it to verify the property’s actual income as part of underwriting.

What are T-12s?

T-12s, or trailing 12-month operating statements, show a property’s actual income and expenses over the past year. Lenders use them alongside the rent roll to confirm the numbers and calculate net operating income.

Can I finance multiple investment properties under one loan?

Yes – a blanket or portfolio loan can finance multiple properties under a single loan, which simplifies closing and ongoing payments compared to separate mortgages on each property.

SBA Loans

Commercial Real Estate Loans

Property Types