Georgia Commercial Mortgage Loans
Georgia Commercial Mortgage Rates - Rates updated May 17th, 2021
|Loan Product||Rates (start as low as)||LTV|
|Multifamily Mortgage Rates (Over $6,000,000)||3.02%||Up to 80%||Get Free Quote|
|Multifamily Mortgage Rates (Under $6,000,000)||3.29%||Up to 80%||Get Free Quote|
|Single Tenant Lease Rates||3.52%||Up to 75%||Get Free Quote|
|Business Real Estate Loans||3.77%||Up to 90%||Get Free Quote|
|Commercial Mortgage Rates||3.77%||Up to 75%||Get Free Quote|
Select Commercial is a leading commercial real estate lender. We have excellent commercial mortgage loan products and options available for owners and purchasers of commercial real estate and multifamily buildings throughout the state of Georgia. While we lend across the entire continental United States, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. Georgia is one of the states that we consider to be a premium market and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified GA borrowers looking to purchase or refinance a commercial property. If you are looking to obtain an multifamily building loan or commercial real estate loan, don't hesitate to contact us. There are many reasons why our customers like doing business with Select Commercial. We have a simplified application process and we do not charge any upfront application or processing fees. We typically offer 24-hour pre-approvals with no-cost and no-obligation. Our long term fixed rates are excellent, and we look to close within 45 days of application. Our staff is professional and knowledgeable, and we look forward to working with you on your next commercial mortgage transaction.
Georgia Commercial Mortgage Benefits
Georgia commercial mortgage rates start as low as 3.02% (as of 05/17/21)
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily , 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
Georgia Commercial Mortgage Loan Options
We arrange commercial mortgage financing in the state of Georgia for the following:
- Multifamily Loans – we actively lend on garden apartments, high-rise multifamily buildings, student housing complexes, underlying cooperatives, and all other types of residential dwellings. We consider loan requests up to 80% LTV. We offer loans with and without recourse (personal guarantees) and with and without prepayment penalties. We offer fixed rate loans with terms from 3 to 30 years.
- Office Building Loans – we lend on all types of office properties, including multi-tenant and single tenant buildings in all locations. We lend on both owner occupied and investor properties. We typically lend up to 75% LTV on investor properties and up to 90% on owner occupied properties. Most loans are written for either 5, 7, or 10 years at a fixed rate with a 25-year amortization.
- Retail Building Loans – we gladly consider requests for commercial mortgage loans on shopping centers, retail strip centers, and individual retail stores. We are a little bit more conservative on retail loans these days based on the current climate for retailers and will consider LTV ratios of 65%-75% depending on the deal. We actively lend on NNN single tenant retail locations such as Starbuck’s, CVS, Walgreens, Dollar General, and other national credit rated tenants.
- Industrial Property Loans – we love to lend on warehouses, distribution centers, manufacturing facilities and other industrial properties. Often, these properties are owner occupied by the owner’s business. We also lend on multi-tenant industrial properties as well. We look for properties in good locations with access to population centers and transportation.
- Single/Special Use Loans – we have a special lending division that understands small business lending secured by owner occupied businesses such as motels, gas stations, restaurants, car washes, retail stores, and other specialty properties. Many banks have a hard time with this type of lending as they often do not understand the underlying businesses.
- Investment Property Loans – any and all income producing property will be considered. We are cash flow driven lenders and look for properties that generate positive cash flow for their owners. We will consider portfolios of single family residences under this group.
- Bridge Loans – many borrowers do not qualify for regular institutional financing due to various short-term obstacles which need to be resolved before they can qualify for bank type financing. These borrowers often require short term loans, or bridge loans, to overcome these short-term problems.
Georgia Commercial Mortgage Information and Economic Overview
Investors looking for a potentially lucrative commercial real estate investment may want to look at properties in Georgia. Georgia is home to some of the fastest-growing counties in the country and its capital city of Atlanta is the economic center of the southern United States. More than 16 Fortune 500 companies are located in Georgia, including the likes of Delta Airlines, Coca Cola and The Home Depot. The state’s economy runs on highly a diverse industry base that depends upon agriculture, manufacturing, logistics and the energy sector and is a competitive real estate market.
The average value of commercial real estate properties in Georgia is about $140,000 with a median of just over $186,000. In the last two years there have been over 145,000 commercial sales, with over 56,000 selling for more than $250,000, almost 13,000 sales valued at over $1,000,000, and about 1,700 sales assessed at over $10,000,000. In Georgia, the median price per square foot of commercial real estate properties is $95. The average commercial real estate lot size in Georgia is 43,560 square feet, 56% above the country’s average. There are just under 1.5 million commercial real estate properties in Georgia, 190% below the United States average. The total acreage is over 20.5 million acres and the collective building area for commercial properties in Georgia is over 65 million square feet. In terms of commercial mortgages, there are almost 865,000 mortgages for commercial real estate properties throughout the state of Georgia. The average value of those commercial mortgages is over $6.4 million, 21% above the United States average. This data indicates that Georgia is a very attractive place to attain a commercial mortgage loan for investors.
Atlanta is by far the largest market in the state and is the first place investors should look to when trying to obtain commercial mortgage financing. Both a strong economy and population growth continued to enhance Atlanta’s multifamily and apartment building market last year. Atlanta ranks third for apartment rent growth among the major cities in the country with an average rate increase of 5.9 percent year-over-year. Despite a stable pipeline of new construction projects, the occupancy rate in stabilized properties has increased over 30 basis points over the year indicating that multifamily and apartment demand still remains healthy. Roughly $6 billion in multifamily assets traded last year and with about 9,000 units scheduled to come open this year Atlanta rents are expected to rise over 3 percent in 2019. Historically it has been uncommon for Atlanta multifamily and apartment rents to increase at a higher rate than the country’s average, partially because the Atlanta supply volume typically runs high. However, due to the strong local economy, the market was able to absorb its share of increased multifamily completions relatively well. Due to strengthening occupancy, building operators were comfortable bumping up apartment rents to new heights. The industrial market in Atlanta continues to thrive due in part to the city’s role as a prominent regional and national distribution center, the growing Port of Savannah, and from its own strong demographic growth. While vacancy rates have increased recently, they are still well below Atlanta’s historical average. Due to low vacancies, landlords have maintained the upper hand in determining rent prices and rent growth continues to outpace the national average. Due to both a limited construction supply and steady demand, Atlanta’s office market is incredibly healthy as well. While construction is beginning to ramp up, new supply is still well below Atlanta’s historical average. This new supply hasn’t really impacted rent prices yet, as rent growth continues to outpace not only Atlanta’s historical average but the national average as well. Thus, Georgia is a wonderful place to look into receiving commercial mortgage financing in order to take advantage of all the region has to offer!