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.

May 16, 2019

Multifamily Loan Programs > $5 million

Fixed Rate Agency Lenders
Term LTV Interest Rates
5 Year 55 to 80% From 3.78%
7 Year 55 to 80% 4.03% to 4.38%
10 Year 55 to 80% 4.14% to 4.44%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 3.90% to 4.20%
55 to 75% 4.05% to 4.40%
55 to 75% 4.20% to 4.80%
*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% 3.64% to 4.98%
7 Year 55 to 80% 3.95% to 4.92%
10 Year 55 to 80% 3.96% to 5.08%
Portfolio Lenders*
LTV Interest Rates
55 to 75% 4.00% to 4.60%
55 to 75% 4.05% to 4.75%
55 to 75% 4.20% 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% 4.50% to 4.70%
7 Year 55 to 75% 4.60% to 4.80%
10 Year 55 to 75% 4.80% to 5.00%
15/15
55 to 75% 5.00% to 5.25%
Bridge Floating LTV Spread Over Libor
Stabilized 65% 250 to 400
Re-Position 80% 300 to 500
Economic Commentary

Risk assets turned to be in favor this week even as trade tensions between major economies festered and growth fears dragged on. Investors got in a buying mood as the administration gave positive hints about efforts to reach trade deals with Canada and Mexico. The White House is also reportedly willing to delay new tariffs on car and auto parts from Europe by six months. Positive news, but still no end in sight for ongoing battles with China over trade. On the earnings front, both Cisco Systems and Walmart reported solid numbers and data on housing came in strong. It’s clearly a mixed bag out there as U.S. 10-year Treasury yields came in significantly during the week and hit 2.36 percent. On Thursday they moved up slightly to 2.40%, down 19 basis points for the month and 69 basis points from a year ago.

(*Portfolio Lenders include Banks, Life Insurance Companies and Credit Unions)
Recent Transactions

Multifamily
Des Moines, WA
$10,855,000
4.05% Fixed
10-yr term/30-yr amort.

Shopping Community
Baldwinsville, NY
$4,752,000
4.73% Fixed
3-yrs I.O.
10-yr term/30-yr amort.

STNL
Austin, TX
$3,340,670
4.80% Fixed
10-yr term/25-yr amort.

Self-Storage
Canton, OH
$2,900,000
4.52% Fixed
1-yr I.O.
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.