Survey: What terms are you currently getting on commercial loans?

[Michael Gilman]

I thought it would be helpful to get a sense of the commercial loan terms investors are are getting in the current market. 

For apartment complexes here in the North East, the best I am currently getting  is about 4% over a 5 year term amortized over 25 years (these are recourse loans) with 25% down.  The 25% down can come from bridge loans or other secondary financing as long as the debt service coverage ratio is reasonable.  I would like longer loan terms to minimize interest rate risk but this comes with significantly higher rates. 

Anyone else care to chime in?