CAPITAL ALERT. March 16, 2017. Multifamily Loan Programs > $5 Million. Fixed Rate. Agency Lenders. Portfolio Lenders*
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CAPITAL ALERT March 16, 2017 Multifamily Loan Programs > $5 Million Fixed Rate
Agency Lenders
Term 5 Yr. 7 Yr. 10 Yr.
LTV 55 to 80% 55 to 80% 55 to 80%
Portfolio Lenders*
Interest Rates 4.25% to 4.67% 4.28% to 4.70% 4.52% to 4.94%
LTV 55 to 75% 55 to 75% 55 to 75%
Interest Rates 3.70% to 4.20% 4.00% to 4.30% 4.25% to 4.60%
*Rates indicative of national average, Act/360
Multifamily Loan Programs < $5 Million Fixed Rate
Agency Lenders
Term 5 Yr. 7 Yr. 10 Yr.
LTV 55 to 80% 55 to 80% 55 to 80%
Portfolio Lenders*
Interest Rates 3.95% to 4.80% 4.45% to 4.85% 4.65% to 4.85%
LTV 55 to 75% 55 to 75% 55 to 75%
Interest Rates 3.70% to 3.90% 3.88% to 4.20% 4.25% to 4.50%
*Rates indicative of national average, Act/360
Commercial Loan Programs Fixed Rate
Portfolio Lenders*
Term 5 Yr. 7 Yr. 10 Yr. 15/15
LTV 55 to 75% 55 to 75% 55 to 75% 55 to 75%
Interest Rates 4.00% to 4.50% 4.25% to 4.75% 4.62% to 4.99% 4.50% to 4.89%
Index Rate as of 3-16-2017 3-Year Swap 5-Year Swap 7-Year Swap 10-Year Swap
1.95% 2.22% 2.31% 2.49%
5-Year Treasury 7-Year Treasury 10-Year Treasury Prime
2.02% 2.31% 2.51% 3.75%
Bridge Floating LTV Spread Over Libor Stabilized 65% 250 to 425 Re-Position 80% 300 to 475 (*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions) Economic Commentary 3-16-2017 As anticipated, the FOMC increased its Fed Funds rate to 0.75%. Yields on 10-year Treasuries are currently 2.52% after falling 10 basis points from their highs of the year. Markets had been expecting a much more hawkish tone from the Fed; pricing in a faster pace for future rate hikes. Instead, the Fed stuck to its position of accommodation as Yellen said: “The simple message is the economy is doing well.” Future rate hikes will be “gradual,” according to the Fed.
Recent Transactions Multifamily Belmont, CA $16,575,000 3.80% Fixed 30-yr term / 30-yr amort.
Multifamily Spokane, WA $3,175,000 4.40% Fixed 2-yr I.O. 10-yr term / 30-yr amort.
STNL Avon, IN $2,550,000 4.67% Fixed 10-yr term / 30-yr amort.
Shopping Strip Destin, FL $2,400,000 4.63% Fixed 5-yr term / 30-yr amort.
For more information, contact: William E. Hughes
Richard Katzenstein
Senior Vice President Newport Beach (949) 419-3200
[email protected]
Senior Vice President/National Director Manhattan (212) 430-5100
[email protected]
Terms, rates and conditions subject to change.
www.MarcusMillichap.com
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