Published: ·Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
What is the best financing for industrial / warehouse at 65% LTV?
Industrial warehouses at 65% LTV with NNN credit tenants qualify for non-recourse CMBS financing with fixed rates typically priced 6.75%–9% for stabilized assets, with the strongest sponsors at 60% LTV reaching 6.25% for 10-year terms. Distribution, logistics, and last-mile warehouse assets with long-term triple-net leases are among the most favored property types in CMBS securitization due to predictable cash flows and minimal landlord obligations.
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder
CMBS Industrial Warehouse Financing
Industrial warehouses with NNN tenants at 65% LTV qualify for CMBS non-recourse fixed-rate debt from approximately 6.25% on the strongest stabilized deals (typical 6.75%–9%). Logistics and distribution assets with credit tenants receive the tightest conduit spreads.
Minimum 30-35% equity required. Industrial property owners with stabilized warehouse or distribution assets leased to credit tenants on NNN leases with 5+ years remaining term.
Deal Parameters at a Glance
LTV Target
65%
Est. Rate Range
6.25% – 11%+ (typical 6.75% – 9%)
Term
5-10 years fixed
Recourse
Non-recourse
DSCR
1.25x minimum
Closing Speed
30-45 days
Min Loan Size
$3M
Loan Products
CMBS
Indicative only, as of August 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 does not lend and does not set pricing. What these terms mean.
When Is This the Right Fit?
This financing is ideal when your industrial warehouse is stabilized with credit tenants on NNN leases with 5+ years remaining. Industrial is currently the most favored CMBS asset class due to e-commerce-driven demand, low vacancy rates (under 5% nationally), and strong rent growth. NNN lease structures eliminate most landlord operating risk, resulting in the tightest conduit spreads available. If your warehouse is in a primary logistics market (Inland Empire, Dallas, Atlanta, Chicago, New Jersey), expect premium CMBS pricing. If your tenant's lease expires within 3 years or the property needs significant capital improvements, stabilize before pursuing CMBS.
Want the full program overview, current rate sheet, and underwriting matrix? See the CMBS Loans guide →
Key Benefits
Strategic Alternatives
Warehouse Industrial Bridge Refinance
If your warehouse needs renovation or is in lease-up before permanent financing
Learn more65% LTV Industrial Owner-User Financing
If you are an owner-operator purchasing warehouse space you will occupy
Learn moreCMBS Balloon Maturity Refinance
If your existing industrial CMBS loan is approaching balloon maturity
Learn moreFrequently Asked Questions
See Related Rates by Program
PeerSense covers the full commercial capital stack. Indicative levels that lenders in our network have been pricing across these programs, as of August 1, 2026.
SBA 7(a) & 504
5.50–11.75%Up to $5M acquisition / real estate / equipment, 10% down
Bridge Loans
9.00–14.00%12–36 mo transitional, SOFR + 470-970 bps, 65-75% LTV
DSCR Investor
5.95–8.50%30-yr fixed rental, qualifies on property cash flow
Equipment Financing
5.50–12.00%Loan, lease, SBA 504, vendor, captive. Section 179 eligible
Hotel Financing
5.85–11.75%CMBS + SBA 504 + bridge + PIP across all flags
Private Credit
7.80–18.00%Non-bank flexibility, unitranche, recap, transitional
Invoice Factoring + ABL
0.5–3.5% / 30dB2B receivables, trucking / staffing / construction / govt
No-Doc CRE
7.50–11.50%Limited-doc commercial, asset-based underwriting
Foreign National
7.50–11.00%Non-US borrower CRE + bridge, no SSN required
Indicative only, as of August 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 does not lend and does not set pricing. What these terms mean.
Connect with PeerSense, Direct Capital Advisory
PeerSense pre-underwrites every deal before presenting it to our institutional capital sources. With a curated network of lender relationships and live market rate intelligence, we match your industrial / warehouse deal with the right capital source, right now.
Fee at closing only · Complimentary initial consultation
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. Updated March 2026.
Disclaimer: The information on this page is provided for educational purposes only and does not constitute financial, legal, or investment advice. Rates, terms, and availability are subject to change based on market conditions, property characteristics, and borrower qualifications. The rate ranges cited reflect approximate market pricing as of March 2026 and may not reflect current conditions at the time of reading. PeerSense is a capital advisory firm, not a lender. We do not originate, fund, or service loans. All financing is provided by third-party lenders subject to their own underwriting criteria and approval processes. Borrowers should consult with qualified financial and legal professionals before making any financing decisions.