Current interest rates on commercial property

[Denis Couture]

Hi. I'm in the process of looking at buying 8 condo units, considered commercial since it's over 4. Bank has quoted me terms of 25 or 30% down payment , 20 or 25 years amortization and 5.25% interest. Wondering if this lines up with what you're seeing out there or are there better terms that other banks are offering. Any suggestions about counteroffering? I noticed that they quoted me a target interest rate of 5.25%. What is the "target" all about?

thanks

Denis