Get the latest debt market information on terms and
rates, including data from Fannie Mae, conduit spreads, Treasury and LIBOR indices,
economic commentary and samples of recent transactions closed by Marcus & Millichap
Capital Corporation.
|
Multi-Family Loan Programs > $3 Million
| Fixed Rate |
Agency Lenders |
| Term |
LTV |
Interest Rates |
| 5 Yr. |
55 to 80% |
3.94% to 4.39% |
| 7 Yr. |
55 to 80% |
4.43% to 4.88% |
| 10 Yr. |
55 to 80% |
4.66% to 5.11% |
|
| Portfolio Lenders* |
| LTV |
Interest Rates |
| 55 to 75% |
5.50% to 6.75% |
| 55 to 75% |
5.75% to 7.25% |
| 55 to 75% |
6.00% to 7.75% |
|
*Rates based on fixed rate Act/360 |
Multi-Family Loan Programs < $3 Million
| Fixed Rate |
Agency Lenders |
| Term |
LTV |
Interest Rates |
| 3 Yr. |
55 to 80% |
3.86% to 4.30% |
| 5 Yr. |
55 to 80% |
4.01% to 4.43% |
| 7 Yr. |
55 to 80% |
4.50% to 4.92% |
| 10 Yr. |
55 to 80% |
4.81% to 5.23% |
|
| Portfolio Lenders* |
| LTV |
Interest Rates |
| 55 to 75% |
5.00% to 6.40% |
| 55 to 75% |
5.50% to 6.75% |
| 55 to 75% |
5.75% to 7.25% |
| 55 to 75% |
6.00% to 7.75% |
|
*Rates based on fixed rate Act/360 |
Commercial Loan Programs
| Fixed Rate |
Portfolio Lenders* |
| Term |
LTV |
Interest Rates |
| 5 Yr. |
55 to 75% |
6.00% to 6.60% |
| 7 Yr. |
55 to 75% |
6.25% to 6.75% |
| 10 Yr. |
55 to 75% |
6.25% to 7.30% |
| Bridge Floating |
LTV |
Spread Over Libor |
| Stabilized |
65% |
225 to 300 |
| Re-Position |
80% |
275 to 350 |
|
| Index Rate as of 7-23-10 |
| 3-Year Swap |
1.19% |
5-Year Treasury |
1.73% |
| 5-Year Swap |
1.94% |
7-Year Treasury |
2.42% |
| 7-Year Swap |
2.50% |
10-Year Treasury |
3.00% |
| 10-Year Swap |
3.01% |
30-Day Libor |
0.33% |
| Prime |
3.25% |
90-Day Libor |
0.49% |
|
(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions) |
| Economic Commentary |
7-23-10 Treasury two-year note yields were near a record low for a fourth day on speculation that stress tests of European lenders may prove they’re not strong enough to weather a government default. Ten-year yields slipped from a one-week high as the Committee of European Banking Supervisors said seven of the region’s 91 banks failed the tests, with a combined capital shortfall of 3.5 billion euros ($4.5 billion).
Agency multifamily loans continue to be available at sub 5% rates. |
|
| Recent Transactions |
Caldwell Terrace Apts.
Multifamily Mid-Rise
Caldwell, NJ
$6,800,000
4.99 Fixed
5-yr term / 30-yr amort. |
CVS
Retail Strip Center
Philadelphia, PA
$6,400,000
6.20 Fixed
10-yr term / 25-yr amort. |
Hickory Square Apts.
Multifamily Garden Apts.
Hickory, NC
$1,998,000
5.40 Fixed
10-yr term / 30-yr amort. |
Multifamily Mid-Rise
Venice, CA
$1,338,000
6.00 Fixed
10-yr term / 30-yr amort. |
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