Riverside Commercial Mortgage Loans
$1,000,000 Minimum

Riverside Commercial Mortgage Rates - Rates updated May 7th, 2021

Loan Product Rates (start as low as) LTV
Multifamily Mortgage Rates (Over $6,000,000) 3.00% Up to 80% Get Free Quote
Multifamily Mortgage Rates (Under $6,000,000) 3.27% Up to 80% Get Free Quote
Single Tenant Lease Rates 3.50% Up to 75% Get Free Quote
Business Real Estate Loans 3.75% Up to 90% Get Free Quote
Commercial Mortgage Rates 3.75% Up to 75% Get Free Quote
Riverside Commercial Real Estate Riverside 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 Riverside. 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. Riverside 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 Riverside 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.

Riverside Commercial Mortgage Benefits

Riverside commercial mortgage rates start as low as 3.00% (as of May 7th, 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

Riverside Multifamily Loan Information

Riverside Economic Trends Riverside Economic Trends

Inland Empire’s 2020 Vacancy Reaches New Low Amid Widespread Demand for Multifamily Rentals

Healthy job creation and an expanding residential base maintain tight conditions. Ranking as Southern California’s top metro for employment growth last year, Riverside is on solid footing entering 2020. Robust demand for industrial space and unwavering population gains will fuel strong hiring velocity for distribution and logistics employers as well as healthcare services this year. Many of these new positions will be filled by individuals that relocate to the metro as organizations are forced to recruit from outside the region with greater frequency amid historically low unemployment. A steady inflow of new residents heightens demand for apartment rentals of various quality at a time of cycle-low vacancy. Those seeking newly built Class A apartments will find limited options in San Bernardino County, where multifamily deliveries are lacking outside of Redlands. They will find 1,100 new multifamily units concentrated in the city of Riverside and neighboring Moreno Valley. These apartment completions in areas with high rental demand will allow vacancy to decline moderately in 2020, holding unit availability below 4 percent for a fourth consecutive year. Investors looking to purchase multifamily property in the Riverside market should definitely look into taking out an apartment loan to finance their acquisition.

Growing contingent of investors compete for listings in metro’s eastern areas. Outlying segments of the Inland Empire are generating increased buyer interest as these locales have experienced the most pronounced rent growth in the region of late. In Coachella Valley and outer San Bernardino County, Class C apartment listings are largely priced below $125,000 per unit, with 6 to high-7 percent cap rates obtainable. Regional investors seeking discounted pricing in more densely populated cities target Riverside, where comparable vacancy rates and initial returns in the 5 to 6 percent range stoke demand. Buyers willing to pay somewhat of a premium for well-located multifamily complexes pursue listings in Riverside County along Highway 91. Here, chances to deploy more than $10 million exist, as the area boasts a sizable inventory of larger garden-style apartment properties. Riverside is a great market for investors to finance their next apartment purchase with a multifamily loan.

2020 Riverside Multifamily Market Forecast

Riverside Completions vs. Absorption Riverside Completions vs. Absorption

The Riverside National Multifamily Index Rank is at 4, up 3 places. Riverside climbs into the top five in the Index, as vacancy stands well below the national level.

Employment in Riverside is up 2.2%. Strong hiring velocity continues in the metro albeit at a slower pace than the previous four years, when an average of 34,300 jobs are created.

Construction in Riverside is expected to exceed 2,100 apartment units. More than 2,000 rentals will be completed for a second consecutive year. The Crossing at Redlands, a 340-unit property, represents the largest completion in the area for 2020.

Vacancy in Riverside is down 10 bps. On net absorption of 2,200 units, the metro’s vacancy will dip to 3.4 percent in 2020. Last year vacancy matched this decline.

Rent in Riverside is up 4.0%. After climbing 5.8 percent last year, the metro’s average effective rent reaches $1,635 per month during 2020, driven by strong rental growth in the Class B and C sectors.

Investment opportunities in Riverside remain strong for those looking to finance their next purchase with an apartment loan. Tight vacancy throughout the two-county region maintains investor interest. The implementation of statewide rent control could require investors to reevaluate their portfolio strategy. We highly recommend any investors looking to buy in the Riverside market to reach out to us regarding a multifamily loan.

Data provided by Marcus & Millichap.

Commercial Mortgage Rate Trends in 2020

Riverside Vacancy and Rents Riverside 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

Riverside Sales Trends Riverside 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.

Riverside 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 Riverside 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.

Riverside Commercial Mortgage Loans

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

Airport, Allesandro Heights, Arlanza, Arlington, Arlington Heights, Arlington South, Canyon Crest, Casa Blanca, Downtown, Eastside, Grand, Hawarden Hills, Hunter Industrial Park, La Sierra, La Sierra Acres, La Sierra Hills, La Sierra South, Magnolia Center, Mission Grove, Northside, Orangecrest, Presidential Park, Ramona, Sycamore Canyon, University, Victoria, Wood Streets.