Office Building Financing
Office Loans – Commercial Office Building Hard Money
Office Building Real Estate Investments are a cornerstone of the commercial markets. And since not every office building acquisition or refinance will even be considered (much less funded) by banks, Office Building Financing options by Hard Money Lenders are a growing commodity among savvy & qualified investors.
In the right location, leased to the right audience, under proper management, office buildings can be one of the most stable & consistent asset classes on the board. Office buildings, whether downtown or suburban, purpose built or customized for each tenant, are one of the most desirable types of real estate across the globe. Due to their generally higher acquisition cost, office building financing is all the more an important component of any commercial real estate investor’s business strategy.
Glassridge Office Building Financing
The Office Building Financing rates & terms listed below are subject to change, and will not apply universally. These are just rough ballpark rates & an outline of the typical terms.
|Eligible Property Types:||Click here for a list of eligible property types.|
|Eligible Uses:||Acquisition, Refinance, and/or Renovations.|
|Loan Term:||1 – 30+ years.|
|Min. Loan Balance:||$500k (with some exceptions)|
|Max LTV (Purchase Price):||60% – 70%, with up to 80%+ for highly qualified repeat Borrowers.|
|Max LTV (Rehab Costs):||90% – 100%|
|Interest Rate:||6.25% – 12%|
|Rate Type:||Fixed and Variable Rates Available.|
|Origination Fee:||2% – 4%|
|Processing Costs:||$695 – $1295|
About Our Office Building Financing Loan Programs
Commercial office real estate loans are a highly specialized real estate financing option. Similar to most types of commercial real estate loans we offer, Office Building Hard Money Loans have several distinct Pros and Cons.
This type of niche financing is largely shaped by the fact that both traditional banks’ commercial lending branches and private lenders compete over the same deals. This means better rates for you, the qualified Borrower, but it also means added chaos & confusion in the loan shopping process.
If you’re investing in office buildings, you should always be exploring as many financing options as possible, since a few Points here, or a botched deal there add up when your average transaction size is >$1m.
Pros of Office Building Hard Money Loans:
- Can close on deals where the banks said “No.”
- Provide more flexible terms than bank financing.
- Best when you need to get the deal closed… fast!
- Only option for Fix & Flips or Rehab & Rent scenarios.
Cons of Office Building Hard Money Loans:
- More expensive than bank loans (usually by 2% – 4% interest and/or 1 – 2 Points on the Origination Fee).
- Still will require a qualified Borrower with a high down payment (65% – 80% max LTV).
- Options vary significantly state-to-state, town-to-town, and even neighborhood-to-neighborhood.
Ultimately, if you’re looking at a new acquisition or major refinance on an office building, you need to shop around!
At Glassridge, we pride ourselves on being able to close on a wide variety of commercial properties in most locations around the US by partnering with local specialists everywhere.
Types Of Office Buildings We Can Finance
In general our goal is to be able to connect you to the right financial instrument to close on or refinance any sound Office Building Investment Property.
However, there are several particular types of commercial office building hard money financing deals we’d love to help you get funded include:
- Class A office building loans.
- Medical office building financing.
- Office building Fix & Flips.
- Long-term permanent office building financing.
- Sometimes Class B & Class C Offices.
- Office building refinancing & cash outs.
- Many more!
If you are planning to purchase or refinance an office building, Glassridge can connect you to some of the best office building hard money loan rates and terms in the industry.
If you’re wondering about what type of rates & terms we can provide on your next office building acquisition or refinance, the best place to start is our quick, online: 2 Minute Pre-Qual™.