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Commercial Real Estate Loans: $1M to $50M+, Matched to Competing Capital

Commercial real estate loans in 2026 fall into four main buckets: bank/agency permanent debt (the cheapest, for stabilized assets), bridge loans (for value-add and quick closes, priced at a spread over SOFR), CMBS (for larger stabilized deals wanting non-recourse), and debt funds (for complex or transitional deals). Typical leverage runs 65–75% LTV, and broker/desk fees of 0.75–1.5% are usually paid by the lender, not the borrower. The right execution depends on the asset, the business plan, and the timeline — which is exactly what a capital desk shops for you.
Last updated: 2026-07-19 · Reviewed by the InvestmentDeals.ai Capital Desk

Commercial Real Estate Loans: 2026 terms at a glance

Term Typical range (2026)
Deal size $1M – $50M+
Leverage 65 – 75% LTV (higher with mezz)
Agency multifamily Lowest rates; stabilized assets
Bridge / debt fund SOFR + spread; speed and flexibility
CMBS Non-recourse; $5M+ stabilized
Recourse Non-recourse available on qualifying deals
Desk fee 0.75 – 1.5%, typically lender-paid
Timeline 2 – 8 weeks depending on execution

Which execution fits your deal

Stabilized multifamily with 90%+ occupancy belongs at the agencies (Fannie/Freddie) or a balance-sheet bank — lowest rate, longest amortization, but slowest and most document-heavy. A value-add asset mid-renovation belongs with a bridge lender or debt fund: faster, interest-only, and priced for the transition, refinancing into permanent debt at stabilization. Hospitality, self-storage, and specialty assets are relationship markets where the lender list is shorter and matching matters most.

The Capital Desk difference on $3M+

Above $3M, deals shouldn’t be submitted to one lender — they should be packaged and taken to market so lenders compete. Our Capital Desk builds the deal summary, runs it across matched institutional lenders, debt funds, and agency shops, and brings back competing term sheets. On most executions the fee is lender-paid.

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Frequently asked questions

What are commercial real estate loan rates in 2026?
Rates vary by execution: agency multifamily prices tightest for stabilized assets, banks next, with bridge and debt-fund executions priced at spreads over SOFR for transitional deals. The honest answer is that on $1M+ deals, your rate is set by which lenders compete for the asset — not by a rate sheet.
How much down payment does a commercial property require?
Plan on 25–35% equity (65–75% LTV) for most commercial assets. Higher leverage is achievable with mezzanine debt or preferred equity on strong deals.
What is a commercial bridge loan?
A short-term (1–3 year), usually interest-only loan that funds acquisition or repositioning before a property qualifies for permanent financing. Bridge loans close fast, tolerate vacancy and renovation, and are repaid by a refinance or sale.
Do I need perfect credit for a commercial loan?
No — commercial underwriting weighs the asset’s income, your equity, and sponsorship experience more than personal credit. Credit matters most at the smaller end and for recourse loans.
What does a commercial loan broker or capital desk cost?
Market fees run roughly 1.5–2% under $1M, 1–1.5% on $1M–$5M, and 0.75–1.25% on $5M–$15M — and on many institutional executions the lender pays the fee, so it costs the borrower nothing.

More questions? See the full Investment Financing Q&A.

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