Marcus & Millichap

Index Rates

Capital Alert

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.

February 14, 2019

Multifamily Loan Programs > $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.59% to 5.02%
7 Year 55 to 80% 4.50% to 4.92%
10 Year 55 to 80% 4.53% to 4.95%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 4.10% to 4.60%
55 to 75% 4.20% to 4.75%
55 to 75% 4.25% to 5.00%
*Rates indicative of national average. Act/360

Multifamily Loan Programs < $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% 4.85% to 5.12%
7 Year 55 to 80% 5.05% to 5.20%
10 Year 55 to 80% 5.25% to 5.40%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 4.10% to 4.60%
55 to 75% 4.20% to 4.75%
55 to 75% 4.25% to 5.00%
*Rates indicative of national average, Act/360

Commercial Loan Programs

Fixed Rate Portfolio Lenders*
Term LTV Interest Rates
5 Year 55 to 75% 4.70% to 5.10%
7 Year 55 to 75% 4.75% to 5.15%
10 Year 55 to 75% 4.80% to 5.50%
15/15
55 to 75% 5.00% to 5.50%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 425
Re-Position 80% 300 to 500
Economic Commentary

Investors continue to weigh the outlook of trade developments between the U.S and China as officials from the world’s two largest economies meet. Will progress be made, or will new tariffs go into effect March 1? On the home front, the U.S. Department of Commerce reported the worst drop in retail sales in nine years, while initial jobless claims came in higher than expected. The market must now ponder whether this economic news will reinforce the expectation that the Federal Reserve will avoid raising rates this year. With much to consider, the 10-year Treasury yield held in the mid 2.60 level.

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions
Multifamily
Texas
$19,350,000
4.82% Fixed
5-yrs I.O.
12-yr term/30-Yr amort.
Industrial
Vernon, CA
$2,340,000
4.76% Fixed
20-yr term/25-yr amort.
STNL
Hinesville, GA
$1,475,000
4.82% Fixed
8-yr term/15-yr amort.
STNL
Brighton, CO
$1,235,000
4.70% Fixed
10-yr term/30-yr amort.

For more information, contact:

David G. Shillington
President
Marcus & Millichap Capital Corporation
Atlanta
(678) 808-2749
David.Shillington@marcusmillichap.com
Richard Katzenstein
Senior Vice President/National Director
Marcus & Millichap Capital Corporation
Manhattan
(212) 430-5100
Richard.Katzenstein@marcusmillichap.com
Terms, rates and conditions subject to change.