Retail Property Financing
ICS provides multi-tenant and single-tenant retail property financing nationwide, including long-term permanent financing and short-term bridge loans. In today's lending environment, many retail property owners are finding it harder to secure retail financing, compared to multifamily and office properties, specifically non-service based retail. As a correspondent lending company, ICS funds retail property loans through our expansive network of 800+ lenders. We provide our clients more options, updated lending guidelines, and competitive terms, through one single point of contact.
Multi-tenant Retail Property Financing
Multi-tenant retail property permanent loan rates are typically based off the 6-Month libor. Bridge financing is based off the Federal Prime Rate. While many institutional lenders have tightened their multi-tenant retail property guidelines, ICS is seeing an influx in multi-tenant retail property loan requests, given the low market rates currently available. We know who is lending, saving our clients time, and money.
Single-tenant Retail Property Financing
Single-tenant retail property permanent loan rates are also typically based off the 6-Month libor, with bridge financing based off the Federal Prime Rate. We are seeing the same single-tenant lending parameters and underwriting guideline adjustments from our institutional lenders consistent with multi-tenant retail property financing.
Structuring Your Retail Property Loan
As a correspondent lending company, ICS will underwrite your loan across multiple lenders simultaneously. We will structure the right loan for you based upon your short and long-term plans for the property. Common permanent loan programs include the 5-year fixed loan, 7-year, and 10-year, typically with 30 year amortization. Permanent retail property rates are hovering at 3.5% to 4% above the 6-month libor. Our bridge loans are usually 12 to 18 month interest only loans, with rates between 8.99% and 9.99%.