Miami Commercial Mortgage Loans
$1,000,000 Minimum

Miami Commercial Mortgage Rates - Rates updated June 23rd, 2021

Loan Product Rates (start as low as) LTV
Multifamily Mortgage Rates (Over $6,000,000) 2.57% Up to 80% Get Free Quote
Multifamily Mortgage Rates (Under $6,000,000) 3.17% Up to 80% Get Free Quote
Single Tenant Lease Rates 3.42% Up to 75% Get Free Quote
Business Real Estate Loans 3.67% Up to 90% Get Free Quote
Commercial Mortgage Rates 3.67% Up to 75% Get Free Quote
Miami Commercial Real Estate Miami 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 Miami. 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. Miami 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 Miami 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.

Miami Commercial Mortgage Benefits

Miami commercial mortgage rates start as low as 2.57% (as of June 23rd, 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

Miami Multifamily Loan Information

Miami Economic Trends Miami Economic Trends

Long-Overlooked Submarkets Stand Out With Strong Upside Potential and Healthy Multifamily Demand Factors

Apartment renter pool remains full with little relief from the single-family housing market. Warm weather and tax benefits are attracting more residents to Miami from out of state, driving housing demand and powering the apartment sector through 2020. Job growth in the market remains healthy going into the next decade, supported by a maturing tech ecosystem and strong international business ties that beckon young professionals. Land constraints and high construction costs have led to one of the most challenging single-family housing markets in the nation for first-time buyers. The median home price was more than six times higher than the median household income at the end of 2019, contributing to a robust apartment development pipeline as builders work to meet demand. Construction activity is elevated in some of Miami’s suburbs including the Coral Gables/South Miami area and West Miami/Doral, neighborhoods that have been undersupplied and contain rapidly growing segments of the population. Investors looking to purchase property in the Miami market should definitely look into taking out an apartment loan to finance their acquisition.

Attractive yield profile and underlying apartment demand fuel interest in suburban markets. Healthy demographics and a high propensity to rent will motivate investors to deploy more capital in Miami this year. As many multifamily assets have traded already this cycle, buyers are being challenged with finding properties to match acquisition criteria. Class A apartment assets in the urban core will remain a target of institutional groups, which accept yields near 4 percent as they trade higher returns for underlying security. High pricing closer to downtown Miami encourages investors to boost acquisitions in more suburban locations, areas that will stand out this year for their remaining upside and multifamily investment opportunities. Initial yields in areas including Miami Gardens, Hialeah and North Miami Beach fall in the upper-5 percent to mid-6 percent band. Apartments in suburban submarkets have faced little competition from new supply as workers are trading longer commutes for more affordable rent. Miami is a great market for investors to finance their next apartment purchase with a multifamily loan.

2020 Miami Multifamily Market Forecast

Miami Completions vs. Absorption Miami Completions vs. Absorption

The Miami National Multifamily Index Rank is at 28, down 6 places. Miami’s stabilizing rent growth and several markets moving up push Miami down the NMI this year.

Employment in Miami is up 1.8%. This year 22,500 jobs will be created, a deceleration from the 2.5 percent expansion posted in 2019, as a tight labor market creates challenges for employers in search of qualified workers.

Construction in Miami is expected to exceed 6,200 apartment units. Deliveries reach their highest level in at least two decades this year and surpass last year’s total of 6,000 units.

Vacancy in Miami is down 10 bps. Demand outpaces supply growth, compressing the vacancy rate to 3.4 percent after falling 50 basis points last year.

Rent in Miami is up 3.6%. Tight operations lift the average effective rent to $1,750 per month in 2020, a slowdown from the 4.5 percent increase registered last year.

Investment opportunities in Miami remain strong for those looking to finance their next purchase with an apartment loan. Rent regulations in other gateway markets along with higher yields will attract investors and developers, targeting areas of growth including North Miami Beach and South Miami. We highly recommend any investors looking to buy in the Miami market to reach out to us regarding a multifamily loan.

Data provided by Marcus & Millichap.

Commercial Mortgage Rate Trends in 2020

Miami Vacancy and Rents Miami 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

Miami Sales Trends Miami 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.

Miami 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 Miami 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.

Miami Commercial Mortgage Loans

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

Allapattah, Brickell, Buena Vista, Civic Center, Coconut Grove, Coral Way, Design District, Downtown, Edgewater, Flagami, Grapeland Heights, Liberty City, Little Haiti, Little Havana, Lummus Park, Midtown, Omni, Overtown, Park West, The Roads, Upper East Side, Venetian Islands, Virginia Key, West Flagler, Wynwood.