Commercial Real Estate Financing
At DNB Advisory, our experience is built on decades working as career bankers, credit underwriters, and portfolio managers. We have structured, underwritten, and approved financing across construction and investment real estate, including office, multifamily, industrial, warehouse, self-storage, and land.
Our Experience
Office Properties (Owner-Occupied & Investment)
Office financing requires careful evaluation of both real estate fundamentals and tenant stability. For owner-occupied properties, lenders place significant emphasis on the operating company’s cash flow alongside property value. For non-owner occupied office, tenant credit quality, lease terms, and market vacancy trends are critical. Our experience across both structures allows us to align financing with client and lender expectations.
Multifamily Apartments
Multifamily financing is driven by income stability, operating efficiency, and market demand. Lenders evaluate rent rolls, historical occupancy, and expense ratios to determine sustainable cash flow. We have worked across stabilized assets, value-add properties, and transitional portfolios, each requiring different credit approaches. Our bank-side perspective helps position these transactions effectively.
Industrial Manufacturing & Warehouse Facilities
Industrial and warehouse properties often blend real estate and operating business risk, particularly when owner-occupied. Banks focus on cash flow durability, property functionality, and tenant concentration for investment assets. Access, ceiling heights, dock doors, and location logistics play an increasing role in underwriting. Our experience across manufacturing and distribution facilities informs how these deals are structured.
Self-Storage Facilities
Self-storage financing is driven by cash flow consistency, market saturation, and operating performance. Lenders evaluate unit mix, historical occupancy, revenue per square foot, and competitive supply. We have experience financing stabilized facilities as well as expansion and conversion projects. Understanding lender views on market risk is critical in this sector.
New Construction and Redevelopment
Construction financing involves heightened scrutiny of budgets, timelines, and exit strategies. Lenders assess borrower experience, cost contingencies, pre-leasing or pre-sales, and projected stabilized cash flow. We’ve underwritten and structured construction loans across multiple property types and understand how banks manage risk throughout the build process. This experience helps anticipate lender concerns early.
Land Financing
Land loans are typically viewed as higher risk due to limited income generation and longer development horizons. Banks focus heavily on borrower experience, exit strategy, and loan structure. Zoning, entitlement status, and market demand are central to underwriting decisions. Our experience helps position land transactions realistically within lender appetite.
How We Can Help
Our Unique Expertise
Commercial real estate financing is rarely one-size-fits-all. Each transaction involves nuanced risk assessment, market interpretation, and lender-specific preferences. Having worked inside banks across underwriting, credit approval, and portfolio management, we bring a practical understanding of how real estate loans are truly evaluated. That insight allows clients to approach financing decisions with confidence, clarity, and realistic expectations.
Common Questions We Can Answer
Commercial real estate financing often raises complex questions that vary by property type, market conditions, and lender appetite. Drawing on decades of experience inside commercial banks, we help owners and investors gain clarity on issues such as:
- How much can I realistically borrow based on my property’s cash flow and DSCR?
- What leverage levels (LTV or LTC) are banks currently comfortable with for my asset type?
- How will tenant concentration, lease rollover, or occupancy impact financing terms?
- What loan structure makes the most sense for acquisitions, refinances, or portfolio loans?
- How do banks view owner-occupied properties differently from investment real estate?
- What equity contribution is required for construction or development projects?
- How do market conditions affect underwriting assumptions and loan pricing?
- Can existing loans be restructured to improve cash flow or address upcoming maturities?
- What financial reporting and documentation will lenders require?
- Which lenders are typically best suited for my specific property type and risk profile?
Our goal is to replace uncertainty with clear, bank-informed guidance so clients can make confident financing decisions.