West Palm Beach Commercial Mortgage Loans
$1,000,000 Minimum

West Palm Beach 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
West Palm Beach Commercial Real Estate West Palm Beach 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 West Palm Beach. 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. West Palm Beach 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 West Palm Beach 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.

West Palm Beach Commercial Mortgage Benefits

West Palm Beach 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

West Palm Beach Multifamily Loan Information

West Palm Beach Economic Trends West Palm Beach Economic Trends

Wave of New Residents Relocate to Palm Beach County, Bolstering Apartment Rental Demand

Revitalized corridors and steady hiring support multifamily rental demand. Florida’s favorable tax structure and a warm climate make Palm Beach County a haven for retirees, leading to some of the strongest in-migration trends in the nation this year as slightly over 30,000 will move to the county. On top of robust growth of the 65 and older cohort, the market has become increasingly attractive to young professionals as West Palm Beach continues to draw more major companies and tech firms. The 20- to 34-year-old cohort, a substantial driver to the apartment sector, is anticipated to grow at a greater rate here than the rest of South Florida as revitalized areas of the market, modern apartment rentals and job opportunities beckon new residents. In response to healthy demographics and stable multifamily rental demand, apartment developers remain active in the market as they were underway on nearly 4,000 apartment units at the onset of 2020. Boynton Beach and Delray Beach are prime targets of new multifamily development for their rapidly transforming downtown districts along with recording balanced supply gains this cycle. Investors looking to purchase multifamily property in the West Palm Beach market should definitely look into taking out an apartment loan to finance their acquisition.

Favorable yield profile and strong demographics fuel multifamily investment activity. Investor appetite for multifamily assets will remain vigorous this year as stable vacancy and moderate apartment rent gains support acquisition targets. Recently recorded going-in cap rates in Palm Beach County were in the lower-6 percent territory on average, the highest in South Florida, which may encourage capital migration to the market as multifamily buyers pursue higher yields. Boynton Beach, Greenacres and the Palm Beach Gardens/Jupiter area will be a primary focus as first-year yields here are in the low-6 percent to low-7 percent range. As many apartment assets have traded this cycle and pricing expectations are high, buyers will need to position aggressively as there is a shortage of available apartment properties that meet investment goals. A wave of new multifamily supply should provide more opportunities as merchant builders deliver stabilized properties. West Palm Beach is a great market for investors to finance their next apartment purchase with a multifamily loan.

2020 West Palm Beach Multifamily Market Forecast

West Palm Beach Completions vs. Absorption West Palm Beach Completions vs. Absorption

The West Palm Beach National Multifamily Index Rank is at 34, up 2 places. Stalwart job creation moves West Palm Beach up in the Index, yet a climb in vacancy holds it in the bottom half.

Employment in West Palm Beach is up 1.6%. Nearly 11,000 jobs will be created this year, down from the 2.3 percent pace of growth as the labor market tightens.

Construction in West Palm Beach is expected to exceed 1,900 apartment units. Deliveries trend upward from the 1,200 units completed in 2019, though they lag behind the previous five year average.

Vacancy in West Palm Beach is up 30 bps. The vacancy rate climbs to 4.8 percent in 2020 with net absorption of 1,450 apartment units trailing supply growth. An 80-basis-point decline was registered last year.

Rent in West Palm Beach is up 3.6%. Rising vacancy slows rent growth from the 4.7 percent gain posted last year, climbing to $1,720 per month in 2020.

Investment opportunities in West Palm Beach remain strong for those looking to finance their next purchase with an apartment loan. Investor interest in older, well-maintained properties that cater to a growing middle-income class of renters will fuel sales activity, but competition for available assets will be substantial. We highly recommend any investors looking to buy in the West Palm Beach market to reach out to us regarding a multifamily loan.

Data provided by Marcus & Millichap.

Commercial Mortgage Rate Trends in 2020

West Palm Beach Vacancy and Rents West Palm Beach 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

West Palm Beach Sales Trends West Palm Beach 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.

West Palm Beach 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 West Palm Beach 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.

West Palm Beach Commercial Mortgage Loans

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


Audubon, Bonnycastle, Hawthorne, Cherokee Triangle, Avondale Melbourne Heights, Rock Creek Lexington Road, Belknap, Gardiner Lane, Hikes Point, Crescent Hill, , Shawnee, Portland, Old Louisville, Russell, Crescent Hill, Beechmont, Algonquin, Taylor Berry, Audubon, Bon Air.