Industrial Bridge LoansTakeout named first · 9.0% to 10.75% · Public floor $10 million and up
Talk to PeerSense. The capital source sets the terms. Lowest bridge rates in the market because the CMBS and life company exit is the deepest and tightest in all of commercial real estate.
Warehouse · distribution centers · last mile logistics · IOS (laydown yards, truck parking) · cold storage · food processing · flex/R&D · manufacturing.
Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
What are typical industrial bridge loan rates in 2026?
Talk to PeerSense. The capital source sets the terms. 9.5% to 13% interest only depending on asset profile and exit timing. Alternative full doc 65 to 75% LTV institutional bridge programs price tighter (9.0% to 10.75%) but require 680+ FICO, full PFS, $25M+ AUM, and 21 to 45 day close. Industrial is the tightest bridge category in CRE because the life company and CMBS exits are the deepest, both paths refinance into permanent debt at the 60 to 65% LTV gold standard lane.
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. Updated May 2026.
Industrial Bridge Loan Underwriting Matrix: Terms by Deal Type
Bridge lenders underwrite industrial deals very differently based on the transition being bridged: acquisition vs. refinance vs. lease up vs. value add vs. cash out. Pick your deal type below for typical LTV, DSCR, term, and rate.
| Property Type | Max LTV | Min DSCR | Term | Amortization | Rate Range | Recourse |
|---|---|---|---|---|---|---|
| Core Stabilized Class A Warehouse | 70 to 75% | 1.25x trailing | 12 to 24 mo | Interest Only | 9.0% to 9.75% | Non recourse |
| Value Add Warehouse Retrofit | 75 to 80% LTC | 1.15x stabilized | 18 to 36 mo | Interest Only | 9.5% to 10.25% | Partial / completion |
| Lease Up (Spec Developed) | 70 to 75% LTC | 1.10x stabilized | 18 to 36 mo | Interest Only | 9.25% to 10.25% | Partial / burn off |
| Last Mile Logistics / Infill | 65 to 70% | 1.20x stabilized | 12 to 24 mo | Interest Only | 9.25% to 10.0% | Non recourse |
| Industrial Outdoor Storage (IOS) | 60 to 70% | 1.25x stabilized | 12 to 24 mo | Interest Only | 9.75% to 10.75% | Partial / full |
| Cold Storage / Refrigerated | 65 to 70% | 1.25x stabilized | 12 to 24 mo | Interest Only | 9.0% to 10.0% | Non recourse |
| Flex / R&D / Life Sciences | 65 to 70% | 1.25x stabilized | 18 to 36 mo | Interest Only | 9.5% to 10.5% | Partial |
| Manufacturing Owner Occupied | 65 to 70% | 1.25x trailing | 12 to 24 mo | Interest Only | 9.25% to 10.25% | Full recourse (SBA 504 exit) |
Core Stabilized Class A Warehouse9.0% to 9.75% · 70 to 75% LTV
- Max LTV
- 70 to 75%
- Min DSCR
- 1.25x trailing
- Term
- 12 to 24 mo
- Amortization
- Interest Only
- Rate Range
- 9.0% to 9.75%
- Recourse
- Non recourse
Value Add Warehouse Retrofit9.5% to 10.25% · 75 to 80% LTC LTV
- Max LTV
- 75 to 80% LTC
- Min DSCR
- 1.15x stabilized
- Term
- 18 to 36 mo
- Amortization
- Interest Only
- Rate Range
- 9.5% to 10.25%
- Recourse
- Partial / completion
Lease Up (Spec Developed)9.25% to 10.25% · 70 to 75% LTC LTV
- Max LTV
- 70 to 75% LTC
- Min DSCR
- 1.10x stabilized
- Term
- 18 to 36 mo
- Amortization
- Interest Only
- Rate Range
- 9.25% to 10.25%
- Recourse
- Partial / burn off
Last Mile Logistics / Infill9.25% to 10.0% · 65 to 70% LTV
- Max LTV
- 65 to 70%
- Min DSCR
- 1.20x stabilized
- Term
- 12 to 24 mo
- Amortization
- Interest Only
- Rate Range
- 9.25% to 10.0%
- Recourse
- Non recourse
Industrial Outdoor Storage (IOS)9.75% to 10.75% · 60 to 70% LTV
- Max LTV
- 60 to 70%
- Min DSCR
- 1.25x stabilized
- Term
- 12 to 24 mo
- Amortization
- Interest Only
- Rate Range
- 9.75% to 10.75%
- Recourse
- Partial / full
Cold Storage / Refrigerated9.0% to 10.0% · 65 to 70% LTV
- Max LTV
- 65 to 70%
- Min DSCR
- 1.25x stabilized
- Term
- 12 to 24 mo
- Amortization
- Interest Only
- Rate Range
- 9.0% to 10.0%
- Recourse
- Non recourse
Flex / R&D / Life Sciences9.5% to 10.5% · 65 to 70% LTV
- Max LTV
- 65 to 70%
- Min DSCR
- 1.25x stabilized
- Term
- 18 to 36 mo
- Amortization
- Interest Only
- Rate Range
- 9.5% to 10.5%
- Recourse
- Partial
Manufacturing Owner Occupied9.25% to 10.25% · 65 to 70% LTV
- Max LTV
- 65 to 70%
- Min DSCR
- 1.25x trailing
- Term
- 12 to 24 mo
- Amortization
- Interest Only
- Rate Range
- 9.25% to 10.25%
- Recourse
- Full recourse (SBA 504 exit)
Indicative only, as of May 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Indicative ranges as of May 2026. Individual deal pricing depends on LTV, DSCR, property type, tenant credit, sponsor track record, and market spreads at the time of rate lock. Contact PeerSense for a deal specific indication.
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Why Industrial Is the Tightest Bridge Category in All of CRE
Industrial bridge prices 50 to 150 bps tighter than multifamily bridge and 200 to 400 bps tighter than hotel bridge. Why? The exit market, institutional portfolio lenders and CMBS conduits compete aggressively for stabilized industrial paper because e commerce tenancy (Amazon, FedEx, XPO, Walmart), last mile logistics demand, and supply constraints make industrial the lowest risk CRE asset class to permanent finance. That exit certainty compresses bridge spreads and opens non recourse at $10M+ for institutional sponsors on clean deals.
Institutional Portfolio Exit Is the Tightest in CRE
The major institutional portfolio lender lenders actively lend on Class A single tenant credit lease industrial at 5.75% to 7.0% on 10 year fixed non recourse. That's 25 to 100 bps tighter than CMBS for the same deal. Bridge lenders know they'll get paid off into institutional portfolio at stabilization and price accordingly.
E commerce Tenancy = Stable Cash Flow
Amazon, FedEx, UPS, Walmart, Target, and the national 3PLs (XPO, DHL, Ryder) rent the majority of U.S. institutional quality warehouse space. These tenants sign 7 to 10 year NNN leases with annual bumps, CPI escalators, or fixed percentage rent increases. Underwritability is closer to NNN credit tenant retail than to multifamily.
IOS + Cold Storage = Supply Constrained Niches
Industrial Outdoor Storage (IOS | laydown yards, truck parking, container storage) and cold storage are the two highest yield industrial sub types. Both are supply constrained by zoning (IOS) and capex intensity (cold storage). Institutional bridge lenders compete hard for IOS paper because the rent growth profile is 5%+ annual.
Environmental Risk Is the Main Diligence Hurdle
Industrial bridge diligence focuses on Phase I Environmental Site Assessment. Historical industrial uses (manufacturing, auto repair, dry cleaners, gas stations) trigger Phase II soil/groundwater testing that can add 30 to 60 days to close and $25K to $150K to closing costs. We pre screen Phase I results at LOI stage to avoid surprises.
Industrial Bridge Deal Types We Structure
Last Mile Logistics Infill Acquisition
You've identified a 50,000 to 250,000 SF warehouse in a metro infill location (LA, NJ, Atlanta, DFW, Chicago, Miami) with strong last mile demand. Bridge closes the acquisition in 21 days; you re tenant or extend leases with a last mile operator (Amazon DSP, FedEx Ground, Walmart); refinance into institutional portfolio or CMBS at stabilization.
Value Add Clear Height Retrofit
You're acquiring a warehouse from the 1970s to the 1990s with 22' to 28' clear height in a strong industrial submarket. Modern Class A tenants require 32'+ clear. Bridge funds the acquisition + $15 to $50/SF retrofit capex (raising roof, adding docks, modernizing column spacing). Stabilize at modern spec rents. Refinance into institutional portfolio at 6.0% to 7.0%.
Industrial Outdoor Storage (IOS) Acquisition
You're buying a 5 to 50 acre laydown yard, container storage site, or truck parking facility. Bridge lenders with IOS specialized programs (Alterra, PlymouthRock, Zenith IOS) fund the deal at 60 to 70% LTV. Exit is CMBS or non bank permanent debt at stabilization.
Cold Storage Conversion or Acquisition
Cold storage vacancy is near zero in major food corridors (Chicago, Atlanta, Dallas, LA, Philly). You're acquiring an existing cold facility or converting a dry warehouse to cold. Bridge funds the $50 to $150/SF conversion capex and the acquisition; specialty cold storage permanent debt (institutional portfolio lenders and cold storage REITs) exits the bridge at stabilization.
Spec Development Lease Up
You've completed spec construction of a 150K to 500K SF warehouse or distribution center; you need 12 to 24 months to lease up. Bridge pays off the construction lender, funds carrying costs during lease up, and closes into permanent debt at 90%+ occupancy.
Industrial Bridge Loans: Frequently Asked Questions
What are typical industrial bridge loan rates in 2026?+
Industrial bridge loans price 9.0% to 10.75% interest only in May 2026, indexed to 1 month Term SOFR + 470 to 645 bps. Core stabilized Class A warehouse with institutional sponsor: 9.0% to 9.75%. Value add or lease up warehouse: 9.5% to 10.25%. Last mile logistics and IOS: 9.75% to 10.75%. Cold storage trades tighter than generic warehouse (9.0% to 10.0%).
What LTV can I get on industrial bridge?+
Industrial bridge LTV caps at 70% to 75% on purchase, 70% on cash out, and 75% to 80% LTC on value add with agency or CMBS takeout. IOS and cold storage typically price 5 points lower LTV than standard warehouse due to tighter exit markets.
How long does an industrial bridge loan take to close?+
14 to 30 days from full submission. Industrial bridge closes faster than hotel or office bridge because environmental (Phase I ESA) and structural diligence is typically cleaner. Value add industrial with significant capex may extend to 30 to 45 days for engineering reports.
What's the standard exit for industrial bridge?+
CMBS conduit (6.0% to 7.5%) and institutional portfolio debt (5.75% to 7.0%) are the standard exits for stabilized industrial. Institutional portfolio lenders favor Class A single tenant credit lease industrial; CMBS is deeper for multi tenant and smaller Class B. Agency is NOT available for industrial, Fannie and Freddie only lend on multifamily.
Do industrial bridge loans finance cold storage or food processing?+
Yes. Cold storage (refrigerated + freezer) and food processing facilities are financed with specialty industrial bridge lenders. Cold storage trades 25 to 50 bps tighter than generic warehouse because of the specialized tenant base (USCS, Lineage, Americold) and supply constraints. Food processing requires USDA/FDA compliance review during diligence.
Can I finance industrial outdoor storage (IOS)?+
Yes, IOS (industrial outdoor storage, laydown yards, truck parking, container yards) is financed by a growing set of specialty bridge lenders. IOS prices 50 to 150 bps wider than standard warehouse bridge due to tighter exit markets, but the fundamentals (rising demand from last mile logistics and port congestion) justify the yield. Expect 60% to 70% LTV.
Is industrial bridge non recourse?+
Most institutional industrial bridge lenders offer non recourse with bad boy carve outs on $10M+ loans. Value add and lease up deals may carry partial recourse (completion guarantee) that burns off at stabilization. IOS and cold storage specialty programs often carry partial recourse through stabilization.
Can bridge fund a warehouse retrofit or clear height upgrade?+
Yes. Modern industrial tenants (Amazon, FedEx, last mile logistics) require 32'+ clear height, 50+ dock doors, 185'+ truck court depth, and 60K+ SF column spacing. Retrofitting a warehouse from the 1970s to the 1990s to meet modern specs costs $15 to $50 per SF. Bridge funds the acquisition + retrofit capex with a draw funded reserve, then refinances into CMBS or life co at stabilized lease.
Deals We Structure
Originators, factoring, CMBS, and bridge. Sizes and structures only. No counterparties named. PeerSense sources capital through a curated network of commercial lenders and capital sources.
Focus is 100 million a month. The desk will look at 10 million a month.
Tape first. 10 million is not the focus.
$20 million a month B2B invoices
Advance on the account debtor. Annual receivables is not facility size.
$10 million and up flagged hotel, CMBS refi
Cash in about 35 percent. Named takeout.
$10 million and up value add multifamily bridge
Named takeout first. Close follows the book.
Hyperscaler lease. Owner keeps the facility.
Up to 89 percent of contracted lease value. Do not name the source.
Revolving line against eligible originator receivables
Advance rates are set facility by facility by asset class. Often paired with a flow takeout.
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Talk to PeerSense
Property address, purchase price (or payoff for refi), current NOI or pro forma stabilized NOI, requested loan amount, and exit strategy. The desk will reach out.
Industrial Bridge Loan: The desk will reach out. No obligation.
Ready to place your Industrial bridge when the takeout is named?
Send us the property address, purchase price (or payoff), stabilized NOI, and exit strategy. We'll return a rate indication and lender shortlist. Public floor is $10 million and up. Cash in about 35 percent.
Fee at closing only · Complimentary initial consultation
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. Updated May 2026.
Disclaimer: Industrial bridge loan rates, terms, and availability are subject to change based on property condition, sponsor qualifications, exit strategy, market conditions, and lender specific credit policies. Rate ranges quoted reflect approximate May 2026 private credit and debt fund pricing and may not reflect current market conditions at the time of reading. PeerSense sources capital through a curated network of commercial lenders and capital sources. All financing is provided by third party lenders subject to their own underwriting criteria and approval processes. Borrowers should consult qualified financial and legal professionals before making any financing decisions.