Las Vegas Commercial Mortgage Loans
$1,000,000 Minimum

Las Vegas Commercial Mortgage Rates - Rates updated June 15th, 2021

Loan Product Rates (start as low as) LTV
Multifamily Mortgage Rates (Over $6,000,000) 2.59% Up to 80% Get Free Quote
Multifamily Mortgage Rates (Under $6,000,000) 3.19% Up to 80% Get Free Quote
Single Tenant Lease Rates 3.44% Up to 75% Get Free Quote
Business Real Estate Loans 3.69% Up to 90% Get Free Quote
Commercial Mortgage Rates 3.69% Up to 75% Get Free Quote
Las Vegas Commercial Real Estate Las Vegas Commercial Mortgage

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 city of Las Vegas. 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. Las Vegas is one of the cities 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 Las Vegas borrowers looking to purchase or refinance a commercial property. If you are looking to obtain a 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.

Las Vegas Commercial Mortgage Benefits

Las Vegas commercial mortgage rates start as low as 2.59% (as of June 15th, 2021)
• 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

Recent TRUSTPILOT Reviews

Select Commercial Funding Reviews from TRUSTPILOT

A three year journey
"Thanks Stephen for all of your hard work in getting our deal closed! I appreciate your professionalism and patience throughout a complicated process. You always were there for my partner and I whenever we had questions and needed answers quick. It was a pleasure to have worked with you and Select Commercial!"

Recent Closings

Las Vegas Multifamily Loan Information

Las Vegas Economic Trends Las Vegas Economic Trends

Rapid Growth of Las Vegas Drives Housing Demand and Keeps the Valley on Investors’ Radar

Wave of new residents bolsters Las Vegas apartment rental demand. Migration to rapidly transforming late-recovery markets in the nation’s Sunbelt remains a predominant trend moving into 2020, showcased by the more than 130 people joining the Las Vegas Valley every day. Job growth remains stable in the market, not only from gaming and tourism industry expansion but from a flourishing startup scene, multifamily housing construction and the metro’s emergence as a regional logistics hub. Single-family home values have risen in step with the expanding economy. The cost to purchase combined with many choosing to rent apartments instead of owning is fueling demand for rental housing. Nearly 13,000 apartments have been built over the past five years, while more than 5,000 multifamily units work their way through the pipeline over the next few years. Developers continue to place greater focus on the areas of Henderson and Southwest Las Vegas for their attractiveness to higher-income earners, with many new apartment complexes competing on extensive amenity packages. Investors looking to purchase property in Las Vegas should definitely look into taking out an apartment loan to finance their acquisition.

Upside potential and favorable pricing draw capital to the Valley. Elevated apartment occupancy and robust multifamily rent gains are resulting in strong cash flows, fueling investor appetite and boosting liquidity in the multifamily sector. Las Vegas continues to be an attractive apartment investment opportunity with going-in cap rates that average in the mid-5 percent territory along with strong equity returns potential. The average price per multifamily unit rose at a double-digit pace last year, while still providing buyers entry-level options. A wave of new apartment complexes in recent years has motivated institutional groups to deploy capital in Spring Valley, Henderson and the South Las Vegas area, where Class A multifamily properties trade with cap rates near 5 percent. Higher-yielding assets attract private investors to the Strip and Central Las Vegas, where an abundance of older Class C apartment assets provide value-add opportunities and demand is greatest for workforce housing. Las Vegas is a great market for investors to finance their next apartment purchase with a multifamily loan.

2020 Las Vegas Multifamily Market Forecast

Las Vegas Completions vs. Absorption Las Vegas Completions vs. Absorption

The Las Vegas National Multifamily Index Rank is at 22, up 5 places. Strengthening operations and cap rates above the U.S. average lift Las Vegas in this year’s Index.

Employment in Las Vegas is up 1.6%. Employers add 16,500 workers to company payrolls this year, down from the 2.3 percent expansion posted in 2019.

Construction in Las Vegas is expected to exceed 4,200 apartment units. Deliveries in 2020 reach their highest level since 2009 and surge past the 1,700 apartments built last year.

Vacancy in Las Vegas is down 10 bps. Tenant demand holds strong amid robust construction activity, compressing the vacancy rate to 4.2 percent after falling 40 basis points in 2019.

Rent in Las Vegas is up 6.7%. Annual effective rent growth remains above 5 percent for the seventh straight year, though it trails the 8.7 percent gain recorded last year as more units were completed.

Investment opportunities in Las Vegas remain strong for those looking to finance their next purchase with an apartment loan. Investor activity will also move to north of the metro where assets trade with initial cap rates in the mid-5 percent to mid-6 percent range. We highly recommend any investors looking to buy in the Las Vegas market to reach out to us regarding a multifamily loan.

Data provided by Marcus & Millichap.

Commercial Mortgage Rate Trends in 2020

Las Vegas Vacancy and Rents Las Vegas Vacancy and Rents

At the beginning of 2020 the overall market outlook did not suggest any crucial factors that would negatively impact the commercial mortgage market. Commercial mortgage lenders and investors expected a very profitable 2020. Almost 65 percent of the top commercial real estate companies believed that commercial mortgage loan originations would go up this year and over 15 percent anticipated an overall rise of over 5 percent. Data released at the beginning of 2020 indicated that commercial mortgage lenders were expected to close over $680 billion of commercial mortgage loans this year. Experts were of the belief that commercial mortgage lenders would remain bullish about making loans. In addition, as commercial mortgages rates were expected to go down most industry leaders were convinced that borrowers in 2020 will have a strong desire to take out commercial mortgage loans. However, with the recent outbreak of the Covid-19 pandemic, the US and global economy has been incredibly unstable. The stock market seems to be bottoming out and commercial mortgage rates have been hit very hard. While the Fed has dropped short term interest rates, long term commercial mortgage rates have actually been rising. Huge cities like New York are shutting down. In this economic climate, many investors are scared to purchase commercial real estate and to take out commercial mortgages. Additionally, the oil industry has been hit hard. Not only are people traveling less due to coronavirus, China and Russia are currently involved in a price war which is driving the price of oil way down. Many people are optimistic that as spring and summer roll in and public health officials learns how to handle this pandemic, the economy should regain its strength.

What Happened with Commercial Mortgage Rates in 2019

Las Vegas Sales Trends Las Vegas Sales Trends

As we review the 2019 year, the commercial real estate market continued to flourish as the longest economic recovery in American history continued. Due to both GDP growth and a steady decline in the unemployment rate, 2019 saw the stock market make huge gains. Many investors thought that commercial mortgage rates would go up last year. However, in actuality commercial mortgage rates actually went down three times. These interest rates helped to spur investors to put more money into commercial real estate. With regards to commercial mortgage loan origination, the 2019 fiscal year far exceeded expectations due to solid fundamentals, low interest rates and higher demand for commercial mortgages. While 2018 commercial mortgage volume totaled about $339 billion, an increase of 18.9% from 2017, the 2019 numbers total about $369 billion. On a larger scale, the 2019 economy prospered overall. Over the course of the year about 2.1 million jobs were added to the market. In addition, the unemployment rate decreased about 50 basis points last year, matching the lowest unemployment rate in fifty years. At the beginning of 2019 many investors were expecting a recession. However, the economy improved as job growth rose and the unemployment rate decreased. This economic improvement had an immensely positive impact on the commercial real estate market as more investors rushed to put their money into commercial properties.

Las Vegas Commercial Mortgage Loan Options

Our staff is professional and knowledgeable, and we look forward to working with you on your next commercial mortgage transaction. We arrange financing in the city of Las Vegas for the following:

  • Multifamily Building 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.
Our company has multiple capital sources for these loans, including: national banks, regional and local banks, Fannie Mae, Freddie Mac, FHA, HUD, insurance companies, Wall Street conduit lenders (CMBS deals), credit unions and private lenders/hedge funds. Whether you are purchasing or refinancing, we have the right solutions available. We will entertain loan requests of all sizes, beginning at $1,000,000. Get started with a Free Commercial Mortgage Loan Quote.

Las Vegas Commercial Mortgage Loans

Select Commercial provides commercial mortgage loans and multifamily financing throughout Las Vegas and the state of Nevada including, but not limited to, the areas below.

Henderson • Las Vegas • Reno