Financing a $30M+ Truck Terminal or IOSBridge Now, CMBS Takeout at Stabilization

On a transitional or lease up port adjacent yard, senior bridge in 2026 runs roughly 60% to 70% loan to value, floating over SOFR, on 12 to 36 month interest only terms, all in near 9.0% to 10.75%. A stabilized credit tenant terminal on a long triple net lease refinances into CMBS or institutional fixed-rate lender permanent debt at roughly 65% to 75% loan to value, near 5.75% to 7.0% fixed for 10 years, non recourse. Strong sponsors with real equity and a conservative loan to value near 55% to 60% draw the best pricing because the equity cushion carries the deal.

Yes. Senior bridge funds the electrical service upgrade and the installation of electric heavy truck charging for electric Class 8 fleets, along with paving, drainage, fencing, lighting, and security. As freight electrifies and ports push toward zero emission drayage, charging equipped terminals draw stronger demand and rents. Once the site is stabilized on documented income, it refinances into CMBS or institutional fixed-rate lender permanent debt at the lower long term rate. This is a real financing structure available through the capital sources in our network.

Both. Industrial outdoor storage sits inside the industrial and logistics family, so it draws industrial capital, but it underwrites more like a specialty asset because value lives in the entitled land, the paving and site improvements, and the lease rather than in a building. Zoning is the moat and the first question: most municipalities have stopped granting new outdoor storage use, so entitled, legally conforming yard is scarce and valuable. That scarcity is why institutional capital competes for the right assets, and why unentitled dirt or a grandfathered only use gets declined.

CMBS and institutional fixed-rate lender permanent lenders generally want a stabilized debt service coverage ratio near 1.25x or better on a real, documented net operating income, with a long triple net lease of five years or more of weighted average lease term and annual rent bumps. On strong tenant credit, permanent lenders can underwrite close to full occupancy value. The permanent loan is sized off the stabilized net operating income, which is why the value add plan that raises documented income before the takeout is what sets the eventual loan proceeds.

At $30M and up, most institutional IOS and truck terminal bridge is non recourse with standard bad boy carve outs for experienced, well capitalized sponsors. Lease up, repositioning, and construction deals often carry a completion or performance guarantee that burns off at stabilization. A sponsor who is willing to sign a guarantee and who holds real portfolio equity generally improves pricing and proceeds. Stabilized credit tenant terminal permanent debt through CMBS or institutional portfolio lenders is non recourse.

A clean $30M and up senior bridge on a well documented port adjacent IOS or terminal typically moves to a rate indication within 48 hours and to a close in roughly 30 to 60 days, with appraisal, environmental, and zoning being the usual gating items. The CMBS or institutional fixed-rate lender takeout comes later, once the site is stabilized, and that permanent process runs roughly 45 to 75 days. Pre mapping the takeout when the bridge funds keeps both legs on schedule and the sponsor out of a maturity squeeze.