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Interest rates

Current Commercial Loan Interest Rates

Updated June 2026 — Direct lender rates, no broker markup

Loan ProgramRate RangeLTVTermMin. Loan
Hard Money9% – 13%Up to 70%6–24 mo$100K
DSCR Investor Loan7% – 9%Up to 75%5/1 ARM – 30yr$150K
Stated Income Commercial8% – 11%Up to 65%1–30 yr$100K
SBA 7(a) / 5046% – 7%Up to 90%10–25 yr$250K
Construction Loan9% – 12%Up to 70% LTC12–24 mo$250K
Church / Non-Profit7% – 10%Up to 65%5–20 yr$200K
30-Year Fixed7% – 8.5%Up to 75%30 yr$150K
Cash-Out Refinance8% – 11%Up to 65%6 mo–10 yr$150K
Bridge Loan9% – 12%Up to 70%6–18 mo$100K
Note: Rates shown are indicative ranges as of June 2026. Your actual rate depends on credit profile, property type, LTV, and loan term. Call us for a precise quote — we never charge upfront fees.

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Common Questions: Credit Score Required | How Long to Close | Hard Money vs DSCR | Bad Credit OK | DSCR Requirements | No Income Verification | Minimum Down Payment | Documents Required
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1031 Exchange Financing

1031 Exchange Financing:
Replacement Property Loans That Close on the Clock

A 1031 exchange lives or dies on two deadlines — 45 days to identify replacement property, 180 days to close. Most banks' commercial underwriting timeline doesn't respect either one. We move fast enough to close inside your exchange window, on real estate that actually fits your reinvestment requirement.

65-75%
Max LTV
7.5-11%
Rate Range
2-3 wks
Typical Close
45 / 180
Day Exchange Deadlines

The math behind a 1031 exchange is unforgiving on timing: miss the 45-day identification window or the 180-day close and the entire tax deferral collapses, triggering the capital gains bill you were exchanging to avoid. Conventional commercial lenders routinely take 45-60+ days just to clear underwriting — before you're anywhere near closing. We structure and close replacement-property financing specifically around the exchange calendar, not our own convenience.

How We Work Inside Your Exchange Timeline

1

Pre-Qualify Early

Get financing terms lined up before or during your 45-day identification window

2

Identify Property

We help evaluate whether a target replacement property fits your loan-to-value and debt needs

3

Fast Underwriting

Streamlined process built to clear before your 180-day close deadline, not against it

4

Coordinated Close

We work directly with your Qualified Intermediary to keep exchange funds properly structured through closing

What Makes This Work

Qualified Intermediary already engaged and exchange properly opened before the relinquished property closes
Replacement property identified in writing within the 45-day window, per IRS rules
Debt and equity on the replacement property equal to or greater than the relinquished property (to fully defer gain)
Property type and condition CLOT can underwrite quickly — no exotic asset class needing extensive specialty review

Common Ways Exchanges Miss Deadlines

Lender underwriting timeline alone exceeds what's left in the 180-day window
Replacement property under-leveraged relative to relinquished property, leaving taxable "boot"
Financing sought only after the 45-day identification period has already started, leaving no cushion
Appraisal, title, or environmental issues discovered late with no time buffer to resolve them

Talk to Us Before You Start the Clock

The single biggest mistake in a financed 1031 exchange is lining up financing after the 45-day clock has already started. Loop us in as soon as you're contemplating a sale — even before you have a replacement property identified — so financing is never the reason an exchange fails.

Running a 1031 Exchange on a Commercial Property?

Tell us your timeline and target replacement property. We'll tell you what we can close and by when.

Start Your Exchange Financing →
Agricultural & Ranch Financing

Agricultural & Ranch Commercial Loans:
Financing Working Land, Not Just Acreage

Farm Credit and USDA programs move slowly and box out anything that isn't a straightforward ag-exempt tract. We finance working ranches, agribusiness operations, and rural commercial land with the speed and flexibility a growing operation actually needs — often closing in weeks, not the 60-90+ days typical of federal ag lending channels.

55-65%
Max LTV, Raw Land
65-75%
Max LTV, Improved
8-12%
Rate Range
15-25 yr
Amortization

Texas has more privately held farm and ranch land than any other state, and a large share of it changes hands or gets refinanced outside the traditional Farm Credit System — either because the buyer needs to close faster than a co-op lender can move, the property doesn't fit a pure agricultural-use box (mixed ag/recreational/hunting-lease income), or the borrower is an LLC or out-of-state buyer that doesn't fit a member-owned cooperative's structure. We underwrite ranch and agricultural commercial deals directly, on the land's value and the operation's income, without the membership requirements or extended approval timelines.

What We Finance

Working Cattle Ranches

Purchase, refinance, or expansion of grazing and cattle operations

Row Crop & Farmland

Cultivated acreage, irrigation infrastructure, grain storage

Hunting & Recreational Land

Leased-hunting income properties with mixed ag/recreational use

Agribusiness Facilities

Feed lots, equipment barns, processing and packing facilities

Strong Underwriting Profile

Documented income — cattle/crop revenue, hunting lease payments, or ag-exempt appraisal supporting land value
Existing infrastructure: fencing, water wells/tanks, barns, working pens in good repair
Clear title and mineral rights history, no unresolved easement disputes
Reasonable proximity to a county seat or market town for equipment/livestock access
Operator with prior ag experience or an established management plan

Harder to Finance

Raw, unimproved land with no income history and no clear use plan
Highly remote acreage with no road access or utility infrastructure
Contested mineral rights or unresolved boundary/easement disputes clouding title
Speculative land banking with no ag exemption and no near-term development plan
Properties in floodplain or with significant environmental restrictions undisclosed upfront

Purchase, Refinance, or Cash-Out for Operating Capital

Ranch and ag borrowers often need capital for reasons a standard ag lender's rigid use-of-funds rules don't accommodate — buying out a family co-owner, funding equipment or herd expansion, or bridging a gap between crop seasons. We can structure cash-out refinances against existing land equity for these purposes, alongside standard purchase and refinance products, with underwriting built around the property and the borrower rather than a cooperative membership model.

Buying, Refinancing, or Expanding Texas Ag or Ranch Land?

Send us the acreage, current use, and income details. We'll tell you what it qualifies for — usually within 48 hours, no co-op membership required.

Submit Your Ag/Ranch Loan Request →
Auto Dealer Floorplan Financing

Auto Dealer Floorplan Financing:
Inventory Credit Lines for Independent Dealers

Independent used car dealers, RV dealers, and powersports dealers need revolving inventory credit lines to stock their lots — but most floorplan lenders only work with franchised new-car dealers or require years of audited financials most independents don't have. We arrange floorplan and inventory financing built around independent and buy-here-pay-here dealers' actual business.

80-100%
Advance vs. Wholesale Value
Revolving
Line Structure
Weekly/Monthly
Curtailment Schedule
1-3 wks
Typical Setup

Floorplan financing is a revolving credit line secured by a dealer's vehicle inventory — new units draw against the line at purchase (typically at auction or from a wholesaler), and the advance is repaid as each unit sells, with curtailment payments reducing the balance on aged units that haven't turned. It's how most dealers fund their lot without tying up cash in inventory, but the specialty lenders who understand vehicle floorplan risk (title control, aging curtailment, physical audits) are a much smaller universe than general commercial lending — and most won't touch an independent dealer without an established franchise relationship or years of financials.

What We Finance

Independent Used Car Dealers

Standalone and buy-here-pay-here lots needing inventory credit lines

RV & Powersports Dealers

Motorhome, boat, motorcycle, and ATV dealer floorplan lines

New Dealer Startups

Newly licensed dealers establishing their first floorplan relationship

Line Increases/Refinance

Existing dealers outgrowing a current floorplan line or facing a non-renewal

Strong Underwriting Profile

Valid dealer license in good standing with the state and bonded as required
Established lot location with reasonable inventory turn history
Clean title-control practices — no prior floorplan defaults or out-of-trust sales
Owner with dealer or automotive sales management experience
Reasonable personal/business credit profile, even without years of audited financials

Harder to Finance

Prior floorplan default or documented out-of-trust sale history
Suspended, revoked, or lapsed dealer license
No physical lot location or inventory storage arrangement
Inventory concentrated in salvage or non-repairable titles without a clear resale channel
Active litigation tied to prior dealership operations

New Lines, Increases, and Non-Renewal Refinancing

We work with independent dealers establishing their first floorplan line, dealers who've outgrown a current line and need an increase, and dealers facing non-renewal from an existing floorplan lender who need to replace that credit line before their lot sits empty. Terms are structured around actual inventory turn and dealer experience, not a franchise agreement.

Need a Floorplan Line for Your Dealership?

Send us your license status, lot location, and current or projected inventory volume. We'll tell you what line size fits — usually within 48 hours.

Submit Your Floorplan Financing Request →
Auto Dealership Real Estate Financing

Auto Dealership Real Estate Loans:
Financing the Land & Building, Not the Inventory

This is real estate financing for the dealership property itself — the showroom, service bays, and lot — not a floorplan line for vehicle inventory. Whether you're buying the land under a franchise dealership, refinancing a maturing note, or purchasing a former dealership site to convert to your own brand, we finance the real property on terms that fit how dealership real estate actually performs.

65-75%
Max LTV, Purchase
7.5-11%
Rate Range
20-25 yr
Amortization
3-5 wks
Typical Close
Not floorplan financing. If you're looking for a line of credit to finance vehicle inventory sitting on the lot, that's a separate product — see our auto dealer floorplan financing page. This page is specifically for buying, refinancing, or building the dealership's real estate.

Dealership real estate is a specialized commercial asset — purpose-built showrooms, multi-bay service centers, large paved lots, and sometimes manufacturer-mandated image-program improvements that a generic retail lender doesn't know how to underwrite. Banks often lump dealership real estate in with the dealer's floorplan credit relationship, which can complicate a straightforward real estate purchase or refinance. We treat the real estate as what it is: a property with its own income potential (lease-back to the dealership operation, or resale value to another operator) independent of any single franchise's floorplan arrangement.

What We Finance

Franchise Dealership Purchase

Buy the real estate under a new or existing franchised new-car dealership

Independent / Used-Car Lot

Purchase or refinance of independent dealership real estate and lots

Image-Program Renovation

Cash-out refinance to fund manufacturer-required facility upgrades

Former-Dealership Conversion

Buying a vacant former dealership site to re-brand or repurpose

Strong Underwriting Profile

Clear title on the real estate, separate from any floorplan lender's blanket lien position
Established dealership operation with documented sales/service revenue history
Location on a visible, high-traffic auto row or arterial corridor
Facility condition supports current or planned franchise brand standards
Environmental Phase I clean, or a manageable Phase II scope (fuel storage, service bay considerations)

Harder to Finance

Real estate cross-collateralized or tangled with an existing floorplan lender's lien
Brand-new operator with no dealership management or ownership track record
Site in a declining or low-traffic secondary location off the main auto corridor
Unresolved environmental issues from decades of fuel/service bay operations
Franchise agreement in jeopardy or up for non-renewal with the manufacturer

Purchase, Refinance, or Cash-Out for Facility Upgrades

Manufacturer image programs periodically require significant facility reinvestment — new signage, showroom redesign, service bay expansion — and dealers often need capital that's structured against the real estate itself rather than tied up in floorplan or working capital lines. We structure purchase, refinance, and cash-out real estate loans specifically for dealership property, keeping that financing cleanly separate from your inventory floorplan relationship.

Buying, Refinancing, or Renovating Dealership Real Estate?

Send us the property details, franchise (if applicable), and current financing. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Dealership Real Estate Request →
Aviation Hangar & FBO Financing

Hangar & FBO Property Financing:
Underwriting a Niche Aviation Asset

Texas has one of the largest general aviation footprints in the country — dozens of reliever and regional airports around Houston, Dallas-Fort Worth, Austin, and San Antonio, plus a deep base of corporate flight departments, charter operators, and maintenance shops. Hangar and FBO (fixed-base operator) real estate is financeable, but it needs a lender who understands ground leases, airport authority approvals, and a genuinely limited buyer pool.

Ground Lease
Common Ownership Structure at Public Airports
Airport Approval
Sponsor / Authority Consent Usually Required
55-70%
Typical Max LTV, Specialized-Use Discount
Varies
By Field, Tenant Base & Lease Term

Most hangar and FBO properties at public-use airports sit on land leased from the airport authority or municipal sponsor rather than land the borrower owns outright — the improvements (hangar, office, fuel farm) are owned by the operator, but the ground lease term, remaining years, and transferability all become core parts of the collateral analysis. A hangar with 40 years left on a ground lease underwrites very differently than one with 8.

What We Look At

Corporate & Executive Hangars

Owner-user or leased hangar space for flight departments and business aircraft

FBO Facilities

Fuel, ramp, and service operations at reliever and regional airports

T-Hangar & Shared Hangar Complexes

Multi-tenant hangar buildings leased to individual aircraft owners

MRO & Aircraft Maintenance Shops

Specialized shop space serving maintenance, repair, and overhaul tenants

Financeable Profile

Long remaining ground lease term (typically 20+ years) with clear transfer/assignment rights
Established field with active based-aircraft count and a real tenant/leasing history
Improvements in good condition with documented airport authority approvals on file
Borrower or tenant with an operating track record (charter, MRO, corporate flight dept.)

Needs Closer Underwriting

Short remaining ground lease term or unclear renewal/assignment language
Small or declining field with limited based-aircraft activity and thin comparable leasing data
Ground-up hangar construction with no pre-leased tenant or airport sponsor sign-off
Highly specialized improvements (fuel farm, wash rack) with limited reuse if the tenant vacates

Why the Ground Lease Drives the Deal

Because the land itself is rarely part of the collateral, the ground lease's remaining term, rent-reset mechanics, and transferability effectively stand in for the "land value" a conventional commercial loan would otherwise rely on. We underwrite the lease terms alongside the physical improvements and the field's own activity level before sizing financing on a hangar, T-hangar complex, or FBO facility.

Financing a Hangar or FBO Property?

Tell us about the field, the ground lease, and the tenant or operating profile. We'll structure financing around the real aviation-asset picture.

Submit Your Loan Request →
Behavioral Health & Treatment Facility Financing

Behavioral Health & Addiction Treatment Facility Financing in Texas

Residential treatment centers and outpatient behavioral health practices are one of the fastest-growing categories of medical real estate in Texas — but the real estate underwriting looks very different depending on whether you're financing a licensed residential facility or a standard outpatient office.

HHSC
TX Licensing Authority
60-65%
Typical Max LTV, Residential
No CON
Texas Requires No Certificate of Need
Zoning
Primary Site-Selection Risk

Texas doesn't require a Certificate of Need for behavioral health or substance-use treatment facilities the way some states do for hospitals — but the Texas Health and Human Services Commission (HHSC) does license residential and outpatient chemical dependency treatment programs, and lenders will verify that license is current, in good standing, and matched to the actual level of care being offered before sizing a loan against the real estate. A lapsed or provisional license is one of the fastest ways to stall financing on an otherwise solid property.

Residential Treatment vs. Outpatient Behavioral Health

A licensed residential treatment center — patients living on-site for detox or extended care — carries real-estate-specific requirements beyond a normal medical office: life-safety and fire-code compliance for a residential occupancy, secure medication storage, staff-to-patient sightlines, and often a distance requirement from schools or daycare centers that varies by municipality and can eliminate an otherwise-good site before underwriting even starts. Outpatient behavioral health — individual and group therapy offices, medication-assisted treatment clinics — underwrites much closer to standard medical office space, since there's no overnight occupancy or the associated life-safety build-out.

Real Estate Loan or Business Loan?

We finance the real estate — the building and land — not the treatment operation's cash flow or accounts receivable. For an owner-operator, that usually means underwriting the real estate against the business's ability to support a lease-equivalent payment (whether occupying it directly or leasing it back through a related operating entity), plus the property's resale or re-tenanting value if the specific operator ever exits. A track record of stable licensure and census, even a short one, meaningfully strengthens that picture.

Residential Treatment Centers

Detox, inpatient, and extended-care facilities with overnight occupancy and full HHSC residential licensure

Outpatient / MAT Clinics

Medication-assisted treatment and outpatient counseling offices, underwritten closer to standard medical office

Sober Living Adjacent Facilities

Structured transitional housing tied to a licensed program, distinct from unlicensed sober-living homes

Adolescent & Family Programs

Youth-focused residential and day-treatment programs with additional state licensing overlays

Financeable Profile

Current HHSC license in good standing, matched to the actual level of care operated on-site
Site already zoned and compliant with any local distance-from-school ordinances
Established operator with a multi-year census and licensure track record
Building layout already meets life-safety code for the occupancy type in place

Needs Closer Underwriting

New or provisional license with no operating history to evaluate
Site zoning or local ordinance compliance not yet confirmed for a residential treatment use
Ground-up or major-conversion project requiring licensure to be secured after construction
Single-operator dependency with no clear re-tenanting path if that program were to close

Financing a Behavioral Health or Treatment Property?

Tell us about the license, the level of care, and the site. We'll structure financing around the real regulatory and real estate picture, not a generic medical-office template.

Submit Your Loan Request →
Billboard & Outdoor Advertising Financing

Billboard & Outdoor Advertising Loans:
Financing Texas Sign & Media Structure Real Estate

Billboard and outdoor advertising structures generate steady, contract-based lease income, but the underlying land parcels are often small, oddly-shaped, or ground-leased — exactly the kind of collateral most banks won't underwrite. We finance against the real advertising revenue and permit standing, not a generic land-value formula that undervalues what actually makes these assets work.

55-65%
Max LTV
8-12.5%
Rate Range
10-20 yr
Amortization
3-5 wks
Typical Close

Billboard structures sit on small ground leases or fee-owned parcels that don't fit standard commercial real estate underwriting — there's no building to appraise in the conventional sense, and value is driven almost entirely by advertising contract revenue, TxDOT/municipal permit status, and visibility/traffic count. Most banks either decline outright or price these deals as unsecured business loans, ignoring the real, durable value of a permitted structure with an active advertiser roster.

What We Finance

Single Billboard Structures

Purchase or refinance of individual permitted billboard structures with active leases

Billboard Portfolios

Financing for operators acquiring or refinancing multiple structures across markets

Digital Conversion Capital

Capital to convert static faces to digital displays, increasing per-structure revenue

Ground Lease Positions

Financing structures on ground-leased parcels with long-term lease terms remaining

Strong Underwriting Profile

Current, transferable TxDOT/municipal outdoor advertising permits with no violations
Active advertiser contracts or a documented occupancy/rate history
Ground lease with 10+ years remaining (or fee-simple land ownership)
High-visibility location with strong daily traffic counts
Structure condition requiring no major near-term capex

Harder to Finance

Unpermitted or grandfathered structures with unclear legal status
Short remaining ground lease term with no renewal option
Vacant/unleased faces with no advertiser revenue history
Structures facing removal risk from road/highway reconfiguration plans

Acquisition, Digital Upgrade, or Portfolio Refinance

Whether you're acquiring an operator's billboard portfolio, converting static faces to higher-revenue digital displays, or refinancing a maturing note against a stabilized advertiser roster, we structure financing around the real permit status and revenue — not a generic land loan that ignores what actually drives this asset class.

Financing a Texas Billboard or Outdoor Advertising Structure?

Send us the permit status, structure count, and lease/revenue details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Billboard Loan Request →
Boat & Marine Dealership Financing

Boat & Marine Dealership Facility Loans:
Financing Texas Marine Sales & Showroom Real Estate

Boat and marine dealership real estate — showroom, service bays, and outdoor display/storage yard — is a distinct property type from marina slip storage, with its own underwriting considerations around dealer floorplan relationships, service revenue, and seasonal sales patterns tied to Texas's huge lake and coastal boating market.

60-70%
Max LTV
7.5-11%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

This is real estate financing for the dealership facility itself — the showroom, service department, parts operation, and outdoor display/storage yard — not the manufacturer floorplan financing that funds the boat inventory on the lot. Texas has one of the largest recreational boating markets in the country between its lake regions and Gulf Coast, and dealership real estate here needs to support both showroom sales traffic and a service department generating year-round revenue independent of new-boat sales seasonality.

What We Finance

Dealership Purchase

Acquisition of an existing marine dealership's real estate and facility

Showroom & Service Buildout

Capital to build or renovate showroom and service department space

Outdoor Display/Storage Yard

Financing for the land supporting outdoor boat and trailer display/storage

Refinance & Expansion

Cash-out or expansion financing for growing dealership operators

Strong Underwriting Profile

12-24 months of sales and service department revenue history
Established manufacturer dealer agreements in good standing
Service department generating meaningful revenue independent of new-unit sales
Location with strong visibility and proximity to lake/coastal boating markets

Harder to Finance

Pre-opening dealerships with no sales or service history
Heavy reliance on a single manufacturer relationship with no diversification
Weak or declining service department revenue relative to sales
Location far from established boating markets or lake access

Purchase, Buildout, or Refinance

Whether you're acquiring an established dealership, building out a new showroom and service facility, or refinancing to fund expansion, we structure financing against the real sales and service revenue — not a generic auto-dealership template that doesn't account for marine retail's distinct seasonality and service economics.

Financing a Texas Boat or Marine Dealership Facility?

Send us the property, sales, and service revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Marine Dealership Loan Request →
Boutique Hotel & B&B Financing

Boutique Hotel & Bed-and-Breakfast Loans:
Financing Texas Hill Country & Small-Property Hospitality

Small boutique hotels, historic inns, and bed-and-breakfasts — especially across Hill Country wine and tourism corridors — don't fit the underwriting profile of a franchise-branded hotel. We finance these smaller, owner-operated hospitality properties against their real occupancy, ADR, and local tourism draw, not a big-brand hospitality template that doesn't apply.

55-65%
Max LTV
8-12.5%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

Conventional hospitality lenders are built around franchise-branded hotels with standardized flags, PIP requirements, and predictable brand-driven booking channels. A boutique property or B&B relies instead on independent marketing, local reputation, and often a historic or architecturally distinctive building — none of which fits a big-brand underwriting model, leading many lenders to decline these deals regardless of how well the specific property actually performs.

What We Finance

Independent Boutique Hotels

Purchase or refinance of small, unbranded hotel properties (typically under 40 rooms)

Historic Inn Renovation

Acquisition and renovation capital for historic properties converted to hospitality use

Hill Country & Tourism-Corridor B&Bs

Financing for bed-and-breakfast properties in Fredericksburg, Wimberley, and similar markets

Expansion & Renovation Capital

Capital for room additions, event space, or property-wide renovations

Strong Underwriting Profile

12-24 months of occupancy, ADR, and RevPAR history documented
Strong local tourism draw with limited direct competition in the immediate area
Property condition requiring no major near-term capex or life-safety upgrades
Experienced operator with a track record in independent hospitality

Harder to Finance

Pre-opening/start-up properties with no operating history
Seasonal-only markets with limited off-peak booking demand
Deferred maintenance on a historic structure requiring major restoration
Heavy reliance on a single event/festival driving most annual revenue

Purchase, Renovate, or Refinance

Whether you're buying an established B&B, converting a historic property into a boutique hotel, or refinancing to fund a renovation or room expansion, we structure financing around the real occupancy and revenue numbers — not a franchise-hotel underwriting box that was never built for a property like yours.

Financing a Texas Boutique Hotel or B&B?

Send us the property, occupancy, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Hospitality Loan Request →
Brewery & Winery Financing

Brewery & Winery Loans:
Financing Texas Craft Beverage Real Estate

Texas has one of the fastest-growing craft beer and Hill Country wine scenes in the country, but breweries and wineries are a tough fit for conventional bank underwriting — heavy equipment, licensing complexity, and tasting-room/hospitality revenue mixed with production. We finance the real estate and the operation together, against real production and taproom numbers.

60-70%
Max LTV
8-12%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

Banks routinely decline brewery and winery real estate because they can't cleanly separate the property value from the equipment, the TABC/TTB licensing, and the hospitality component (taproom, tasting room, event space) layered on top of production. That leaves owners financing buildouts with expensive equipment loans or personal capital even when the underlying property and business have real, growing value. We underwrite the full picture — production capacity, distribution, and taproom traffic — not just a generic industrial or restaurant box.

What We Finance

Production Facility Purchase

Buying the building housing brewing/fermentation equipment and warehouse space

Taproom & Tasting Room Buildout

Capital for hospitality space, patios, and event areas tied to the production site

Vineyard & Winery Land

Hill Country vineyard acreage plus winery production and tasting facilities

Expansion & Refinance

Cash-out or rate/term refinance for growing operators adding capacity

Strong Underwriting Profile

Current TABC/TTB licensing in good standing with no pending violations
12-24 months of production and taproom revenue history
Distribution agreements or consistent direct-to-consumer/taproom sales trend
Real estate value that holds up independent of the beverage business (alternate-use potential)
Experienced ownership/management team with industry track record

Harder to Finance

Pre-revenue start-ups with no production or sales history
Licensing disputes or lapsed TABC/TTB status
Highly specialized build-out with little alternate-use value if the business fails
Vineyard acreage with unresolved water rights in drought-restricted counties

Buying, Building, or Growing a Texas Craft Beverage Business

Whether it's a new brewery buying its first production building, a Hill Country winery adding vineyard acreage, or an established taproom refinancing to fund expansion, we structure financing around the real estate and the operating numbers together — not a one-size-fits-all restaurant or industrial rate that ignores what actually drives value in this asset class.

Financing a Texas Brewery or Winery?

Send us the property details, production capacity, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Brewery/Winery Loan Request →
Build-to-Rent (BTR) Financing

Build-to-Rent Financing:
Ground-Up Construction Underwritten as a Rental Portfolio

Build-to-rent — purpose-built single-family or townhome communities designed and held as rentals from day one, never intended for individual sale — has become one of the fastest-growing segments in Texas commercial real estate. It doesn't fit neatly into either a homebuilder construction loan or a stabilized multifamily loan, so it needs a lender who underwrites it as what it actually is: a rental portfolio built at scale.

Construction → Perm
Single-Close or Two-Stage Structures Available
Pro Forma Rent Roll
Underwritten Community-Wide, Not Unit-by-Unit
65-75%
Typical Max LTC on Vertical Construction
DSCR at Stabilization
Take-Out Sized on Projected Occupancy

The core underwriting question on a BTR deal isn't "will these homes sell" — it's "will this community lease up and hold occupancy at the projected rent." That means the market study, absorption schedule, and comparable-rent analysis matter more than a typical spec-home construction loan, while the actual site plan, unit mix, and construction budget still get underwritten like any ground-up build.

What We Finance

Detached BTR Communities

Purpose-built single-family rental neighborhoods, professionally managed at scale

Townhome/Rowhome BTR

Attached rental product on a shared community management structure

Horizontal Land Development

Lot development and infrastructure ahead of vertical BTR construction

BTR Portfolio Bridge/Take-Out

Stabilizing a completed community into permanent DSCR-style financing

Strengthens the Deal

Experienced BTR-specific developer/GC track record, not a first-time single-family builder pivoting
Third-party market study supporting realistic lease-up absorption and comparable rents
A named or committed institutional-grade property manager for the completed community
Phased draw structure tied to leasing milestones, not just construction completion

Slows the Deal

Rent projections based on for-sale comps rather than actual competing rental communities
No management plan in place for a 50-200+ scattered or clustered unit portfolio
Entitlement/zoning still pending for rental use in a market zoned primarily for-sale
Construction budget with no contingency for a multi-phase, multi-year build-out

Why BTR Doesn't Fit a Standard Construction Loan

A traditional homebuilder loan is sized against unit sale prices and a builder's sell-through history — neither applies here, since nothing sells. We size BTR financing against the stabilized rent roll the community is projected to generate, with the construction draw schedule and eventual take-out both built around leasing performance rather than a sales pace.

Financing a Build-to-Rent Community?

Tell us about the unit count, market, and management plan. We'll structure financing around the rental portfolio you're actually building.

Submit Your Loan Request →
Cell Tower & Telecom Land Financing

Cell Tower & Telecom Infrastructure Land Loans:
Financing Texas Ground Leases

Landowners with a cell tower, fiber hub, or other telecom infrastructure ground lease on their property often want to leverage that contracted lease income — for land acquisition, refinancing, or cash-out — but most conventional lenders don't know how to underwrite telecom lease income any better than they know solar or wind leases. We do.

55-65%
Max LTV
8-12%
Rate Range
10-20 yr
Amortization
4-6 wks
Typical Close

Cell tower and telecom infrastructure ground leases — typically signed with major carriers or tower companies for 25+ years with built-in escalations — represent some of the most stable, creditworthy lease income available on rural and suburban land, since the tenants are almost always large, investment-grade telecom companies. Yet conventional lenders routinely decline to underwrite this income, treating the land like undeveloped raw acreage and ignoring the durable cash flow sitting on top of it.

What We Finance

Ground-Leased Land Refinance

Cash-out or rate/term refinance against land under an active telecom lease

Land Acquisition

Purchase financing for acreage with an existing telecom infrastructure lease

Multi-Lease Portfolios

Financing for landowners with multiple telecom leases across several parcels

Fiber & Data Infrastructure

Financing for land under fiber hub, data backhaul, or related telecom leases

Strong Underwriting Profile

Signed, executed lease with a major carrier or established tower company
Long remaining lease term (15+ years) with built-in rent escalations
Clean title with resolved easements and access rights for the tower/infrastructure
Documented lease payment history for existing, operational leases

Harder to Finance

Pre-lease speculative land with no signed carrier agreement
Short remaining lease term with no renewal option
Disputed access rights or easements complicating the lease
Lease with a smaller, less creditworthy tenant rather than a major carrier

Leveraging Durable, Contracted Lease Income

Whether you're a landowner who wants to unlock cash from an existing telecom lease, or an investor acquiring land already under a long-term carrier agreement, we structure financing around the real lease economics — some of the most stable ground lease income available in commercial real estate, financed accordingly.

Financing Texas Land Under a Cell Tower or Telecom Lease?

Send us the lease terms, acreage, and carrier. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Telecom Land Loan Request →
Charter & Private School Facility Financing

Charter & Private School Facility Loans:
Financing Texas Education Real Estate

Charter schools and private schools have unique real estate needs — classroom configuration, life-safety compliance, outdoor space requirements — and revenue tied to enrollment and per-pupil funding or tuition rather than a standard commercial lease. We finance school facilities against real enrollment trends and funding stability, underwriting built for how education real estate actually works.

60-70%
Max LTV
7.5-11%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

Texas has one of the largest and fastest-growing charter school sectors in the country, alongside a well-established private and parochial school market, and both need real estate that most conventional commercial lenders are unfamiliar with underwriting. Charter schools rely on state per-pupil funding tied to enrollment and authorizer renewal status; private schools depend on tuition revenue and enrollment stability. Both require specific building configurations (classroom counts, outdoor space, security/life-safety compliance) that a generic office or retail underwriting model doesn't capture.

What We Finance

Charter School Facilities

Purchase, refinance, or expansion of state-authorized charter school campuses

Private & Parochial Schools

Financing for independent and faith-based school real estate

Expansion & New Campus

Capital for enrollment growth requiring additional classroom or campus space

Renovation & Compliance

Capital for life-safety, ADA, and facility upgrades to meet current standards

Strong Underwriting Profile

Stable or growing enrollment with a multi-year track record
Current charter authorization in good standing (for charter schools) or strong tuition collection history (for private schools)
Facility meeting current life-safety, fire code, and ADA compliance standards
Experienced school administration/board with a track record of stable operations

Harder to Finance

Charter renewal at risk or recent authorizer compliance issues
Declining enrollment with no clear recruitment/retention plan
Start-up schools with no enrollment or funding track record yet
Deferred maintenance creating life-safety or compliance risk

Purchase, Expansion, or Refinance

Whether you're a charter operator acquiring or building a new campus, a private school expanding to meet enrollment demand, or an established school refinancing to fund facility upgrades, we structure financing against the real enrollment and funding numbers — not a generic institutional-property rate that ignores what actually drives value in education real estate.

Financing a Texas Charter or Private School Facility?

Send us the enrollment, funding structure, and facility needs. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your School Facility Loan Request →
Childcare & Daycare Financing

Childcare Center Loans in Texas:
Financing an Asset Class Banks Underwrite Like a Business, Not Real Estate

Daycare and early-learning centers carry recession-resistant demand and strong owner-operator margins, but most banks price them as risky small-business loans rather than commercial real estate. We underwrite the real estate and the operation together.

70-80%
Max LTV
7.25-10%
Rate Range
20-25 yr
Amortization
1.20x+
Min DSCR

Childcare is one of the few commercial property types where demand is structurally tied to population growth rather than discretionary spending — parents need care whether the economy is expanding or contracting, and Texas's population and birth-rate trends have kept center occupancy high across most metros. Yet financing a daycare property is trickier than financing a comparable office or retail building, because a large share of the value is tied to a licensed, ongoing childcare operation rather than the four walls themselves. Lenders who don't specialize in the space either decline the deal outright or underwrite it as an unsecured business loan at rates that make ownership uneconomical.

We underwrite childcare real estate as real estate first — evaluating the building, playground/outdoor space compliance, parking ratio for drop-off traffic, and location demographics — while layering in operational due diligence on licensed capacity, enrollment trends, staff-to-child ratios, and state licensing history. That combined view lets us finance both stabilized centers with an established roll of enrolled families and owner-operator purchases where a buyer is acquiring an existing licensed facility.

What Drives Approval on a Daycare Deal

Licensed capacity utilization (a center running at 60% of licensed capacity tells a very different story than one at 95% with a waitlist), staff turnover and director tenure, Texas Health and Human Services licensing status and any past violations, and whether the real estate is purpose-built (dedicated playground, age-segregated classrooms, commercial kitchen if applicable) or a converted space that would need capital improvements to meet code long-term.

Strong Underwriting Profile

Purpose-built center with compliant outdoor play space and drop-off parking
85%+ licensed capacity utilization with 12+ months of stable enrollment
Clean HHS licensing history, no unresolved violations
Experienced owner-operator or director with 3+ years in the role
Located in a growing suburban submarket with strong household formation

Harder to Finance

Converted residential or retail space needing code upgrades to remain licensed
Recent licensing violations or a probationary status with the state
High staff turnover or a single-person operation with no succession plan
Declining enrollment trend over the trailing 12-24 months
Rural location with a shrinking or aging population base

Purchase, Refinance, and Expansion Financing

We fund owner-operators buying their first center, established operators acquiring a second or third location, and existing owners refinancing out of an SBA loan once the business has stabilized enough to qualify for conventional-style commercial terms. Expansion financing — adding a classroom wing, converting unused square footage into licensed capacity — is underwritten against the projected incremental enrollment revenue, not just current cash flow.

Own or Buying a Texas Childcare Center?

Send us the enrollment numbers and licensing status. We'll tell you what the deal qualifies for, usually within 48 hours.

Submit Your Childcare Deal →
Church & Religious Facility Financing

Church & Religious Facility Loans:
Financing Most Banks Won't Underwrite

Banks routinely decline church and ministry financing because congregational income doesn't fit a standard debt-service box and a sanctuary has no obvious alternate use if it's ever repossessed. We underwrite houses of worship directly — on giving history and building equity, not a franchise model that doesn't apply.

65-75%
Max LTV
7.75-11%
Rate Range
15-25 yr
Amortization
1.15x+
Min DSCR

Religious institutions are among the most underserved borrowers in commercial real estate. It isn't a credit problem — established congregations often carry decades of on-time giving and low default rates — it's an underwriting-fit problem. National banks build lending boxes around NOI, cap rates, and comparable sales, and a 40,000-square-foot sanctuary with a baptistry and a fellowship hall doesn't comp against anything on a normal appraisal panel. Most loan officers simply don't know how to package the file, so the deal gets a soft decline instead of a real underwrite.

We take a different approach: church and ministry lending is underwritten on tithing and offering history (typically 2-3 years of financial statements), membership trends, and the building's replacement-cost value rather than pure income-comp appraisal. A growing congregation with consistent giving and a clear building plan is a financeable borrower — the file just has to be built by someone who's done it before.

What We Finance

Purchase of an existing worship facility, ground-up construction or expansion (sanctuary additions, family life centers, education wings), refinance of an existing church note (often to escape a balloon payment from a community bank), and acquisition of land for future development. We also finance religious schools, daycare/ministry centers operated by a congregation, and multi-site or satellite campus expansions for growing churches.

Denominations & Facility Types

Strong Underwriting Profile

2+ years of consistent or growing tithe/offering income, documented via financial statements
Stable or growing membership/attendance trend, not declining
Existing facility with reasonable condition — roof, HVAC, parking in good repair
Established 501(c)(3) or equivalent nonprofit status with clean governance documents
Adequate parking ratio and zoning compliance for assembly use
Denomination-affiliated churches with a parent body co-signature or support (optional, strengthens file)

Harder to Finance

Startup congregations under 2 years old with no giving track record
Declining membership or offering income trending down 3+ years
Highly specialized build-out (extensive baptistries, pipe organs) that adds cost but not resale value
Unresolved zoning or assembly-use permit issues
Governance disputes or unclear title/ownership structure within the congregation
Rural facilities with very limited membership base and thin giving history

Refinancing Out of a Church Bond or Balloon Note

A large share of church financing we handle is refinance — congregations that took on a church bond program or a community-bank balloon note years ago and now face a maturity they can't refinance through the original lender. We can structure a straightforward refinance against the building's current value and the congregation's current giving, often with better amortization and no balloon, giving the church predictable payments instead of a looming maturity crisis.

If your congregation is buying land, breaking ground, expanding an existing facility, or facing a note maturity, send us your last two years of giving statements and the property details. We'll tell you honestly what it qualifies for — no denominational restrictions, no "we don't do churches" rejection after weeks of waiting.

Financing a Church or Ministry Facility in Texas?

Send us your giving history and the property details. We'll tell you what it qualifies for — purchase, construction, or refinance — usually within 48 hours.

Submit Your Church Financing Request →
Classic & Exotic Car Storage Financing

Classic & Exotic Car Storage Facility Loans:
Financing Texas Collector Vehicle Real Estate

Climate-controlled collector car storage — sometimes combined with detailing, maintenance, and members-only clubhouse space — is a growing premium real estate category in Texas's wealthy metro corridors. Conventional lenders often can't tell it apart from generic self-storage, missing the higher revenue-per-square-foot this specialized model actually generates.

60-70%
Max LTV
7.5-11.5%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Premium collector car storage differs meaningfully from standard self-storage: climate control, enhanced security (often including individual unit monitoring), higher ceiling clearance, and increasingly, a membership/clubhouse component with detailing bays, lounges, and event space for owner gatherings. This combination commands per-square-foot rates well above standard self-storage, but most lenders default to underwriting it as generic storage rather than the differentiated, higher-margin product it actually is.

What We Finance

Climate-Controlled Storage Units

Purchase or refinance of premium individual storage units for collector vehicles

Members-Only Clubhouse Facilities

Combined storage plus lounge, detailing bay, and event space for owner communities

Buildout & Expansion Capital

Capital to add units, upgrade climate control, or expand clubhouse amenities

Portfolio Acquisition

Financing for operators acquiring multiple premium storage locations

Strong Underwriting Profile

12-24 months of occupancy and membership revenue history documented
Strong security infrastructure with insurance-grade monitoring and access control
Location in a high-net-worth metro corridor with real collector vehicle demand
Waitlist or high occupancy rate demonstrating unmet local demand

Harder to Finance

Pre-opening facilities with no occupancy or membership history
Standard climate control only, without the security/amenity differentiation buyers pay a premium for
Location outside an established collector vehicle market
Heavy reliance on a small handful of members for most facility revenue

Acquisition, Buildout, or Expansion Capital

Whether you're acquiring an established premium storage facility, building out a new climate-controlled clubhouse concept, or expanding an existing operation to meet waitlist demand, we structure financing around the real per-unit economics — not a generic self-storage rate that ignores what makes this niche genuinely more valuable.

Financing a Texas Classic or Exotic Car Storage Facility?

Send us the facility, occupancy, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Car Storage Loan Request →
CMBS Loan Financing

CMBS Loans Explained:
Fixed-Rate Conduit Financing and Why the Prepayment Terms Are So Strict

A CMBS (Commercial Mortgage-Backed Securities) loan gets pooled with dozens of other commercial loans and sold to bond investors as a single security. That securitization structure is what makes CMBS rates competitive — and it's also why CMBS loans come with prepayment rules unlike almost any other commercial loan product.

5-10 yrs
Typical Fixed Term
25-30 yrs
Amortization
Non-Recourse*
*Standard Carve-Outs Apply
Defeasance
Or Yield Maintenance

Once a CMBS loan closes and gets pooled into a trust, your original lender is no longer the one you deal with — a master servicer (and, if the loan runs into trouble, a special servicer) administers it on behalf of the bondholders for the life of the loan. That's the trade-off behind the attractive fixed rate and non-recourse structure: the loan is underwritten to a rigid formula (DSCR, LTV, and debt yield all have to clear fixed thresholds), and once it's securitized there's very little flexibility to modify terms, because doing so would mean re-negotiating with bondholders you'll never meet, not a relationship lender who can use judgment.

Defeasance vs. Yield Maintenance

Most other commercial loans that penalize early payoff use yield maintenance — a formula that charges you the present-value difference between your note rate and current market rates on the remaining balance. CMBS loans typically go a step further and require defeasance instead: rather than just paying a fee, you use the payoff proceeds to buy a portfolio of government securities structured to replicate the loan's exact remaining payment schedule, and that securities portfolio — not your building — becomes the trust's new collateral. The property itself gets released free and clear, but defeasance is more expensive and far more operationally involved than a yield-maintenance payoff, often requiring a defeasance consultant and several weeks of lead time.

Why Borrowers Choose CMBS Anyway

For a stabilized, income-producing property that doesn't need flexibility for years, CMBS pricing is often the most competitive fixed-rate money available — better than a bank portfolio loan and comparable to agency financing without the property-type restrictions Fannie/Freddie multifamily programs carry. It's the right tool when you plan to hold through the full loan term (or refinance rather than sell early), and the wrong tool if there's real uncertainty about needing to sell or restructure before maturity.

Good CMBS Fit

Stabilized, leased-up property with predictable cash flow; loan size large enough (generally $2M+) to make securitization cost-effective; borrower plans to hold through the fixed-rate term

Better Fit Elsewhere

Property in transition (lease-up, renovation, repositioning); borrower who may need to sell or refinance early; anyone who needs a lender who can modify terms mid-loan

Weighing CMBS Against Other Permanent Options?

Send us the property's income, your target hold period, and loan size — we'll tell you honestly whether CMBS, agency, or a bank/life-company loan actually fits best.

Submit Your Loan Request →
Industrial & Cold Chain Financing

Cold Storage & Refrigerated Warehouse Loans

Cold storage is the fastest-growing subsector of industrial real estate in Texas, driven by food distribution, pharmaceutical logistics, and e-commerce grocery. It's also the most capital-intensive and specialized warehouse type to finance — here's how we underwrite it.

Refrigerated and frozen warehouse space costs 2-4x more to build than dry industrial space per square foot, once you account for insulated panel construction, refrigeration systems, backup power, and specialized racking. That capital intensity is exactly why cold storage commands rents 40-80% above comparable dry warehouse space in most Texas submarkets — and why lenders underwrite it differently than a standard distribution building.

We finance three categories of cold chain real estate: conversion projects (dry warehouse retrofitted with refrigeration), ground-up cold storage construction, and acquisition of stabilized, tenant-occupied cold facilities. Each carries a different risk profile and different terms.

What Drives Underwriting on Cold Storage

Refrigeration equipment age and condition matters more here than almost any other industrial category — a facility with an aging ammonia refrigeration system nearing end-of-life represents real capital risk that shows up in our underwriting, regardless of how strong the tenant's credit is. We also look closely at backup power (a cold facility without generator redundancy is one extended outage away from a total loss of inventory, which affects both insurance and lease structure), dock configuration for temperature-controlled loading, and whether the tenant's use is single-temperature or multi-temperature (freezer, cooler, and ambient zones in one building command premium rent but also premium construction cost).

Common Cold Storage Deal Types We Fund

Conversion

Dry-to-Cold Retrofit

Converting existing dry industrial to refrigerated space. Lower basis than ground-up, but requires careful underwriting of the building shell's ability to support insulation and refrigeration load.

Ground-Up

Build-to-Suit Cold Facility

New construction for a food distributor, grocery e-commerce fulfillment operator, or 3PL with a signed long-term lease. Highest cost basis, but strongest underwriting when anchored by a credit tenant.

Acquisition

Stabilized Cold Facility Purchase

Buying an existing, leased cold storage asset. We underwrite off in-place NOI, remaining lease term, and refrigeration system remaining useful life.

Typical Texas Cold Storage Deal Terms

Loan-to-Value / Loan-to-Cost
60-70%
Rate Range
7.75-10.5%
Term (Bridge / Stabilized)
18-36 mo / 5-10 yr
Minimum DSCR (Stabilized)
1.25x
Construction Cost per SF (Refrigerated)
$120-$220

Texas's cold storage boom is concentrated around DFW, Houston, and San Antonio — driven by their positions as national distribution hubs and the continued growth of grocery e-commerce and meal-kit fulfillment. If you're acquiring, converting, or building refrigerated warehouse space anywhere in the state, send us the deal specifics — refrigeration system details, tenant credit, and lease terms if applicable — and we'll underwrite it directly.

Financing a Cold Storage Deal?

Conversion, ground-up, or acquisition — tell us the specs and we'll tell you what it qualifies for.

Submit Your Deal →
Co-Working & Flex Office Financing

Co-Working & Flex Office Space Loans:
Financing Texas Shared-Workspace Real Estate

Co-working and flex office operators run a business model banks struggle to underwrite — short-term membership revenue instead of long-term leases, and a single-tenant-style buildout serving dozens of unrelated members. We finance the real estate against actual occupancy, membership retention, and revenue-per-desk, not a generic office loan template that assumes 5-10 year anchor leases.

60-70%
Max LTV
8-12%
Rate Range
15-25 yr
Amortization
3-5 wks
Typical Close

Conventional office lenders build their models around long-term, credit-tenant leases with predictable rollover risk. Co-working operators don't fit that box — membership can turn over monthly, revenue depends on occupancy and retention rather than a signed 10-year lease, and the buildout (private offices, phone booths, shared amenities) has limited value outside the flex-office use. That combination gets most co-working real estate declined by conventional lenders regardless of how the specific operator is actually performing.

What We Finance

Owner-Operated Co-Working

Purchase or refinance of a building an operator both owns and runs as a flex-office business

Flex/Executive Suite Buildings

Financing for buildings leased to co-working/executive-suite operators as anchor tenants

Buildout & Expansion Capital

Capital to build out new locations or add capacity to an existing space

Multi-Location Operators

Portfolio financing for operators running several flex-office locations across Texas

Strong Underwriting Profile

12-24 months of occupancy, membership, and revenue-per-desk history
Diversified membership base — no single member representing an outsized share of revenue
Stable or growing occupancy trend with reasonable member retention/renewal rates
Location in a strong commuter/business corridor with limited direct co-working competition
Experienced operator with a track record running similar flex-office space

Harder to Finance

Pre-launch buildouts with no membership or occupancy history
Declining occupancy or heavy reliance on short-term day-pass revenue only
Overbuilt submarkets with multiple competing co-working operators nearby
Single-member concentration risk — one large tenant driving most of the revenue

Purchase, Refinance, or Expansion Capital

Whether you're an operator buying the building you run your co-working business from, an investor acquiring a property with a flex-office anchor tenant, or an established operator refinancing to fund a new location, we structure financing around the real occupancy and revenue numbers — not a generic office underwriting box that doesn't fit how flex-office actually performs.

Financing a Texas Co-Working or Flex Office Property?

Send us the occupancy, membership revenue, and lease details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Co-Working Loan Request →
Credit Tenant Lease (CTL) Financing

Credit Tenant Lease Financing:
Underwriting the Tenant, Not Just the Building

A single-tenant property leased long-term to an investment-grade credit tenant — a national pharmacy, a Fortune 500 distribution user, a government agency — behaves more like a bond than a typical piece of real estate. CTL financing prices and sizes off that lease and tenant credit first, and the physical building second.

Up to 90%
LTV on Strong Credit Tenants
10-25 yrs
Typical Lease Term
BBB-/Baa3
Investment-Grade Threshold
Often
Non-Recourse Available

Conventional commercial underwriting starts with the sponsor's balance sheet and the property's own income history. CTL financing flips that order: the primary credit analysis is on the tenant's corporate rating and the lease's remaining term, escalations, and guarantees. A vacant big-box building is worth little on its own — the same building leased to a AA-rated national tenant for 15 more years with rent bumps is a very different, much more financeable asset.

Where CTL Financing Fits

National Pharmacy / Retail

Single-tenant net lease to Walgreens, Dollar General, O'Reilly, and similar investment-grade chains

Corporate Build-to-Suit

Purpose-built HQ, distribution, or manufacturing facility leased back to a rated corporate tenant

Government-Leased Office

Space leased to a GSA agency or Texas state entity under a long-term government lease

Investment-Grade Healthcare

Facility leased to a rated hospital system or national urgent care operator

Strong CTL Candidate

Tenant carries a public investment-grade credit rating (or clearly rated-equivalent financials)
Long remaining lease term with minimal near-term rollover risk
Absolute or double-net lease structure minimizing landlord expense exposure
Corporate guarantee backing the lease, not just a local franchisee entity

Weak CTL Candidate

Short lease term remaining relative to the loan's amortization schedule
Lease guaranteed only by an unrated local franchisee, not the parent company
Tenant credit recently downgraded or under financial distress
Property has limited alternative-use value if the tenant were ever to vacate

Why the Lease Terms Matter More Than the Appraisal

Because a CTL loan is essentially secured by a corporate credit's promise to pay rent, small differences in lease language — assignment rights, casualty and condemnation clauses, renewal options, rent escalation timing — can move pricing and leverage more than a few points of cap rate. We review the lease itself alongside the tenant's credit profile before ever quoting terms, since the lease is the real collateral.

Have a Credit Tenant Deal to Finance?

Send us the lease and tenant credit profile. We'll tell you quickly whether it qualifies for CTL-style pricing and leverage.

Submit Your Loan Request →
Data Center & Colocation Financing

Data Center Financing:
Capital for Texas's Fastest-Growing Industrial Asset Class

Texas leads the country in new data center development — cheap power, an independent grid, and business-friendly permitting have made DFW, San Antonio, and Central Texas some of the hottest colocation and hyperscale markets in the U.S. We finance data center acquisition, conversion, and expansion projects that most conventional lenders won't underwrite without a signed hyperscale tenant already in place.

55-65%
Max LTV/LTC
8-13%
Rate Range
12-36 mo
Bridge/Construction Term
3-6 wks
Typical Close

Data center financing spans a wide range of deal types — shell/powered-shell acquisition, industrial-to-data-center conversion, colocation facility expansion, and ground-up build with pre-leasing in progress. Conventional and even most CRE lenders require a signed hyperscale or enterprise tenant before they'll consider the deal, which leaves a real financing gap for operators building speculatively or converting industrial space ahead of lease-up. We underwrite these deals on the real estate, power infrastructure, and sponsor's operating track record, not just an executed lease.

What We Finance

Powered Shell Acquisition

Purchase of existing power-infrastructure-ready industrial buildings

Industrial-to-DC Conversion

Repositioning existing industrial or warehouse space for data center use

Colocation Expansion

Bridge and construction capital for operating colocation facilities adding capacity

Pre-Lease Bridge

Bridge financing ahead of hyperscale/enterprise lease execution

Strong Underwriting Profile

Confirmed available power capacity from the utility/ERCOT interconnection queue
Sponsor with prior data center, industrial, or telecom infrastructure development experience
Site with adequate fiber connectivity or a clear path to it
Realistic lease-up timeline supported by comparable regional absorption data
Clear entitlements/zoning for heavy power and cooling infrastructure

Harder to Finance

Unconfirmed or heavily backlogged utility interconnection with no firm capacity date
First-time sponsor with no data center or comparable industrial development track record
Speculative land purchase with no power study or feasibility work completed
Site outside an established or emerging data center corridor with no fiber access
Unresolved zoning or environmental review for heavy industrial power use

Acquisition, Conversion, and Expansion Bridge Capital

Whether you're acquiring a powered shell in the DFW data center corridor, converting existing industrial space in San Antonio or Austin, or bridging a colocation expansion ahead of a signed enterprise lease, we structure financing around the real estate and infrastructure fundamentals rather than requiring a hyperscale tenant on day one.

Financing a Texas Data Center or Colocation Project?

Send us the site, power capacity status, and project scope. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Data Center Financing Request →
Dental & DSO Real Estate Financing

Dental Practice & DSO Real Estate Financing:
Acquisitions, Buildouts & Portfolio Growth

Dental real estate carries specialized plumbing, compressed air, and vacuum-line infrastructure most conventional lenders don't underwrite well — and a growing share of dental deals now involve a DSO (Dental Service Organization) acquiring the real estate alongside, or separately from, the practice itself.

Specialized
Operatory Plumbing & Buildout
RE + Practice
Combined or Split Financing
DSO Roll-Ups
Multi-Location Portfolios
SBA-Eligible
For Owner-Occupied Purchases

A dental office isn't a generic medical suite — each operatory needs its own plumbing, compressed air and vacuum lines, and often reinforced flooring for imaging equipment, which means a vacant dental buildout has real re-tenanting friction if that specific practice moves out. We underwrite the real estate on its own merits: location, buildout quality and reusability, and lease structure, whether the purchaser is a single owner-dentist or a DSO assembling a multi-location platform.

Common Dental Real Estate Deal Types

Single-Practice Acquisition

An owner-dentist buying the building alongside the practice, often with SBA 7(a) or 504 financing

DSO Multi-Location Roll-Up

A dental service organization acquiring real estate across several practices as it consolidates a platform

Ground-Up or Shell Buildout

New construction or a cold-shell space being built out for dental use for the first time

Sale-Leaseback

A practice owner selling the real estate and leasing it back to free up capital for growth or retirement

Financeable Profile

Existing dental infrastructure (operatory plumbing, compressed air, vacuum) reusable by a future practice
Established practice with real production history, or a DSO with a demonstrated multi-location track record
Location in a market with genuine patient demand and reasonable dentist-to-population density
Clean separation (or clearly documented combination) of real estate value from practice goodwill

Needs Closer Underwriting

Highly custom buildout with little reuse value for a non-dental tenant if the practice fails
Startup practice with no production history backing the purchase
DSO roll-up with aggressive leverage across many locations and thin per-location cash flow
Overlapping or unclear allocation between real estate price and practice goodwill in the purchase agreement

Why Real Estate and Practice Value Get Underwritten Separately

The building's collateral value doesn't disappear if the practice inside it struggles — but it is worth meaningfully less to a lender if the buildout can't be repositioned for another dental (or medical) tenant. We look at the real estate as its own asset first, then layer in the practice's production and the buyer's experience, rather than treating goodwill and brick-and-mortar as a single blended number.

Buying, Building Out, or Rolling Up Dental Real Estate?

Tell us about the practice, the buildout, and the deal structure. We'll tell you quickly what's financeable.

Submit Your Loan Request →
Distillery & Craft Spirits Financing

Distillery Loans:
Financing Texas Craft Spirits Production Real Estate

Distilleries carry a different licensing and economic profile than breweries or wineries — TABC/TTB distilled spirits permits, longer barrel-aging cycles that tie up inventory value for years, and heavier equipment investment. We finance distillery real estate against production capacity, aged-inventory value, and tasting-room revenue, underwriting built for how this specific business actually works.

55-65%
Max LTV
8-12.5%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

Texas has one of the fastest-growing craft distillery scenes in the country, but distillery real estate is a tough underwrite for conventional lenders — the production building often needs specialized ventilation and fire-suppression systems for distillation, barrel warehouses tie up significant capital in aging whiskey or other spirits that won't generate sellable revenue for years, and TABC/TTB distilled spirits licensing carries more regulatory complexity than beer or wine permits. Most banks decline the asset class outright rather than evaluate the specific operation.

What We Finance

Production & Distillation Facility

Purchase or refinance of the building housing stills and production equipment

Barrel Aging Warehouse

Financing for dedicated barrel storage/aging facilities separate from production

Tasting Room & Retail Buildout

Capital for hospitality space tied to the production site, a growing revenue driver

Expansion & Refinance

Cash-out or rate/term refinance for growing operators adding capacity

Strong Underwriting Profile

Current TABC/TTB distilled spirits licensing in good standing with no pending violations
12-24 months of production and tasting-room revenue history
Documented barrel inventory value as supplemental collateral consideration
Real estate value that holds up independent of the distillery business (alternate-use potential)

Harder to Finance

Pre-revenue start-ups with no production or sales history
Licensing disputes or lapsed TABC/TTB status
Highly specialized production buildout with little alternate-use value if the business fails
Undercapitalized aging inventory with no clear cash-flow bridge until product is sellable

Buying, Building, or Growing a Texas Distillery

Whether it's a new distillery buying its first production facility, an established operator building a dedicated barrel warehouse, or a tasting room expanding to capture more direct-to-consumer revenue, we structure financing around the real estate and the operating numbers together — not a one-size-fits-all beverage-industry rate that ignores what actually drives value for a distillery specifically.

Financing a Texas Distillery?

Send us the property details, production capacity, and licensing status. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Distillery Loan Request →
Family Entertainment Center Financing

Family Entertainment Center Loans:
Financing Trampoline Parks, Arcades & Indoor Rec Facilities

Trampoline parks, bowling centers, arcades, and indoor play facilities are capital-intensive, single-purpose buildouts that most banks decline as too specialized or too dependent on a specific operator. We finance the real estate and improvements against the facility's real attendance, membership, and event revenue — not a blanket "amusement" rejection.

60-70%
Max LTV
8-12.5%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Family entertainment centers carry heavy tenant-improvement costs — padding, safety netting, arcade systems, party rooms, food service — that don't retain much value outside the specific use, which is exactly why conventional lenders treat them as high risk regardless of how the individual location performs. A profitable trampoline park or bowling center with strong membership and party-booking revenue still gets a flat "no" from most banks purely on asset-class policy. We look at the actual numbers.

What We Finance

Trampoline & Indoor Play Parks

Purchase or refinance of trampoline parks, ninja/obstacle courses, and indoor playgrounds

Bowling & Arcade Centers

Acquisition or refinance of bowling alleys, arcades, and mixed-use entertainment venues

Buildout & Expansion Capital

Funding for new locations, equipment upgrades, or added party/event space

Multi-Location Operators

Portfolio financing for operators running several FEC locations across Texas

Strong Underwriting Profile

12-24 months of attendance, membership, and party-booking revenue documented
Current safety inspections and insurance with no lapses or major claims history
Lease term of 10+ years remaining, or fee-simple real estate ownership
Location in a growing rooftop/family-density trade area with limited direct competition
Experienced operator with a track record running similar facilities

Harder to Finance

Pre-opening/ground-up buildouts with no operating history
Safety violation history or lapsed liability coverage
Short remaining lease with no renewal option
Declining attendance trend or new competing facility nearby

Acquisition, Buildout, or Refinance for Entertainment Venue Owners

Whether you're buying an established trampoline park or bowling center, funding a new buildout, or refinancing a location to pull cash out for expansion, we structure the financing against the real facility numbers — attendance, membership renewals, and event bookings — instead of a generic amusement-industry rate that ignores how the specific location actually performs.

Financing a Texas Entertainment Center or Indoor Rec Facility?

Send us the facility type, attendance/revenue history, and lease details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your FEC Loan Request →
Equipment Leasing & Finance Partnerships

Real Estate + Equipment Financing:
Serving Equipment-Heavy Texas Businesses

Manufacturers, trucking companies, medical imaging practices, and restaurant groups often need two separate kinds of financing at once — the building, and the heavy equipment inside it. We finance the real estate directly and coordinate with equipment leasing and finance partners so both pieces close together instead of stalling each other.

65-80%
Max LTV, Real Estate
7-11%
Rate Range
2-4 wks
Typical Close
2 Loans
Coordinated as 1 Closing

A CNC machine shop, a truck terminal with a fuel island, or a dental practice's imaging suite all need equipment financing that runs on a completely different underwriting track than the building itself — different collateral, different amortization, often a different lender entirely. We keep the real estate loan moving on its own timeline and coordinate directly with the equipment finance company so neither piece holds up the other at closing.

Industries We See This Most

Manufacturing & Industrial

Building plus CNC, press, or production-line equipment financed in parallel

Trucking & Logistics Terminals

Terminal real estate alongside fleet, fuel island, or maintenance-bay equipment

Medical & Diagnostic Buildings

Building purchase paired with imaging, lab, or surgical equipment financing

Restaurant & Food Service

Real estate plus kitchen, walk-in, and specialty equipment build-out financing

Structures That Work Well

Real estate loan and equipment lease/loan closing on the same or adjacent timelines
Equipment financed separately, keeping it off the real estate loan's collateral pool
Business has existing operating history to support both obligations combined
Equipment vendor or leasing company already identified before real estate closing

Needs Closer Coordination

Start-up business with no operating history trying to finance both building and equipment at once
Equipment cost so large relative to the building that combined debt service is out of balance
No equipment finance partner identified yet, with a tight real estate closing deadline
Specialized or custom equipment with limited resale value backing a large loan amount

Why Splitting the Two Loans Usually Wins

Trying to fold expensive equipment into a single real estate mortgage often means a bank underwrites the whole deal to the equipment's faster depreciation schedule, or refuses combined collateral altogether. Keeping the building loan and the equipment financing separate — but coordinated to close together — usually gets a business better terms on both pieces and a faster overall path to opening.

Buying a Building That Needs Equipment Too?

Tell us about the property and the equipment involved. We'll structure the real estate financing and help coordinate the equipment side.

Submit Your Loan Request →
EV Charging Station Financing

EV Charging Station Loans:
Financing Texas Charging Infrastructure Real Estate

Standalone EV charging stations and charging hubs added to existing commercial sites (retail, travel centers, parking facilities) are a fast-growing but still unfamiliar asset class for most commercial lenders. We finance the real estate and site improvements against utilization data, host-site traffic, and network operator agreements — not a blanket "too new" rejection.

60-70%
Max LTV
8-12%
Rate Range
10-20 yr
Amortization
3-5 wks
Typical Close

EV charging real estate splits into two situations most banks aren't set up to evaluate: standalone charging hubs (a dedicated site with multiple DC fast chargers) and charging infrastructure added to an existing property, like a travel center or retail parking lot. Both require heavy electrical infrastructure investment and depend on utilization and network operator agreements for revenue — data most conventional commercial lenders simply don't know how to underwrite yet, leading to reflexive declines even on well-located, well-utilized sites.

What We Finance

Standalone Charging Hubs

Purchase or development financing for dedicated multi-charger DC fast-charging sites

Retrofit Infrastructure

Capital to add charging infrastructure to an existing retail, hotel, or travel center site

Fleet Charging Depots

Financing for dedicated charging real estate serving delivery/rideshare fleets

Highway Corridor Sites

Acquisition of high-traffic corridor real estate for planned charging development

Strong Underwriting Profile

Utility service agreement confirming adequate power capacity for the planned charger count
Network operator agreement or utilization data for existing operational sites
Highway/corridor location with strong daily traffic and limited nearby charging competition
Real estate value that holds up independent of the charging business (alternate-use potential)

Harder to Finance

Pre-construction sites with no utility interconnection secured yet
Low-traffic locations with no clear utilization thesis
Heavy reliance on unproven incentive/rebate programs to make the deal work
No network operator agreement or fleet contract backing projected utilization

Ground-Up Development or Retrofit

Whether you're developing a new charging hub from the ground up, adding chargers to an existing commercial property, or acquiring a site with charging infrastructure already installed, we structure financing around the real utilization and site economics — not a blanket new-technology discount that ignores well-performing, well-located sites.

Financing Texas EV Charging Real Estate?

Send us the site, charger count, and utilization or contract details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your EV Charging Loan Request →
Event & Wedding Venue Financing

Event Venue & Wedding Barn Loans:
Financing the Fastest-Growing Niche in Texas Hospitality

Texas is home to one of the largest wedding and event venue markets in the country — Hill Country barns, riverside pavilions, and converted ranch properties booking $8K-$25K weekends year-round. Most banks won't touch it because it looks like "special purpose" real estate. We finance it as the cash-flowing hospitality business it actually is.

60-70%
Max LTV
8-11.5%
Rate Range
15-25 yr
Amortization
1.20x+
Min DSCR

Event venues sit in an underwriting gray zone. Appraisers often flag them "special purpose" because the improvements — barns, pavilions, arbors, bridal suites — don't have an obvious alternate use, which spooks conventional bank credit committees even when the booking calendar is full a year out. Direct commercial lenders look past the label and underwrite what actually matters: trailing 12-24 months of booking revenue, average rate per event, seasonal occupancy, and whether the operator has a real reservation system and repeat referral business — not just a pretty property.

Texas venues in the Hill Country, DFW exurbs, and Houston-area river corridors regularly book 40-80 weddings and corporate events a year at $8,000-$25,000 per event. That's a real hospitality income stream, and we underwrite it the same way we'd underwrite a boutique hotel — on the numbers, not the category.

Venue Types We Finance

Wedding Barns & Ranches

Converted barns, ranch event centers, and rustic venues — the largest segment of the Texas market.

Corporate & Conference Venues

Retreat centers, meeting halls, and multi-use event spaces serving corporate bookings alongside weddings.

Vineyard & Estate Venues

Hill Country vineyard properties combining event hosting with a tasting room or agritourism income stream.

Strong Underwriting Profile

2+ years of booking history with documented revenue (bank statements, POS/booking platform reports)
Existing infrastructure — septic/water capacity, parking, permitted assembly occupancy
Seasonal but predictable calendar with repeat vendor referrals (photographers, planners, caterers)
Located within reasonable drive of a Texas metro (Austin, DFW, Houston, San Antonio)
Owner-operator with hospitality or event-management experience

Harder to Finance

Pre-revenue / ground-up venue with no booking history yet — treated as construction/startup risk
Septic or water systems undersized for peak-event capacity
No liability insurance history or event-hosting permits from the county
Remote rural locations 90+ minutes from any metro with thin drive-in demand
Owner relying entirely on word-of-mouth with no bookings platform or marketing presence

Purchase, Refinance, or Value-Add Expansion

We finance acquisition of an established venue with existing bookings, refinance of high-rate seller-carry or private notes used to originally acquire the property, and value-add expansion — adding a second event space, bridal suite, or covered pavilion to an existing operation to increase booking capacity and average event rate. Cash-out refinances are common once a venue has 2+ years of stabilized revenue, freeing up capital for the next expansion.

Own or Buying a Texas Event Venue?

Send us your booking history and the property details. We'll tell you what it qualifies for — acquisition, refinance, or expansion — usually within 48 hours.

Submit Your Venue Financing Request →
Franchise & Restaurant Financing

Franchise & Multi-Unit Restaurant Financing:
Real Estate Loans for Operators, Not Startups

Franchise and restaurant real estate doesn't fit most banks' comfort zone — single-purpose buildouts, brand-specific improvements, and operators who are asset-rich but tax-return-light. We finance the real estate and the operating business together, based on unit-level economics, not a generic restaurant-industry risk score.

65-75%
Max LTV, Franchise RE
8-12%
Rate Range
10-25 yr
Amortization
2-4 wks
Typical Close

Whether it's a QSR pad site, a sit-down chain location, or a multi-unit operator adding their fifth store, restaurant real estate carries a reputation with conventional lenders that doesn't match the actual performance of a well-run operation. Franchisor brand strength, unit-level sales history, and lease/ownership structure tell us far more about repayment risk than the fact that the tenant is a restaurant. We underwrite accordingly.

What We Finance

Ground-Lease Pad Sites

Purchase or refinance of freestanding QSR/franchise buildings on ground leases or fee-simple land

Multi-Unit Portfolios

Cross-collateralized financing for operators scaling across 3+ existing locations

New-to-Portfolio Buildout

Acquisition plus tenant-improvement capital for converting a vacant box into a new unit

Sale-Leaseback

Cash out real estate you already own and operate under a leaseback to your own concept

Strong Underwriting Profile

Recognized franchise brand with a documented multi-year franchise agreement
2+ years of unit-level sales and P&L history, or a strong personal operating track record
Clean site — no environmental flags, adequate parking, visible traffic count
Owner-operator with real equity in the deal, not a 100%-financed startup concept
Lease or ground-lease terms that comfortably outlast the loan term

Harder to Finance

Brand-new, unproven franchise concept with no operating history anywhere
First-time restaurant operator with no industry experience seeking 100% financing
Site with a short remaining ground-lease term relative to the loan
Franchisor in financial distress or an agreement in default/renewal dispute
Highly specialized buildout with limited alternative-use value if the concept fails

Purchase, Refinance, or Growth Capital for Existing Operators

Most of our franchise and restaurant real estate borrowers aren't first-time operators — they're existing owners buying the real estate under a location they already run, refinancing a maturing note, or pulling growth capital to open unit number four or five. We structure around what the operating history actually shows, with financing that moves at the speed a real estate opportunity or lease deadline requires.

Buying, Refinancing, or Expanding a Franchise or Restaurant Property?

Send us the brand, unit count, and sales history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Franchise Loan Request →
Funeral Home & Cemetery Financing

Funeral Home & Cemetery Loans:
Financing One of Commercial Real Estate's Most Recession-Proof Niches

Death care is one of the few industries with demand that never softens in a downturn — but the licensing, zoning, and pre-need trust complexities involved mean most conventional lenders won't finance funeral homes or cemeteries at all. We underwrite the real estate, the license, and the operation together.

65-75%
Max LTV
7.5-10.5%
Rate Range
20-25 yr
Amortization
1.20x+
Min DSCR

Funeral homes and cemeteries occupy a genuinely unusual spot in commercial real estate underwriting. On one hand, the demand driver — mortality — is about as non-discretionary and non-cyclical as it gets, and well-run operators in growing Texas markets post stable, predictable margins year after year. On the other hand, the sector carries regulatory layers most lenders have never underwritten: Texas Funeral Service Commission licensing, pre-need trust fund compliance, cemetery perpetual care fund requirements, and specialized use zoning that limits both buyers and resale options if a loan were ever foreclosed. That combination of stable cash flow and unfamiliar regulatory structure is exactly why most banks decline these deals outright rather than take the time to underwrite them properly.

What We Underwrite On a Death Care Deal

Case volume trends over the trailing 24-36 months, the mix of at-need versus pre-need (pre-arranged, prepaid) revenue, the status and funding level of any pre-need trust or perpetual care fund (Texas requires these to be maintained and audited), current Texas Funeral Service Commission license standing, and — for cemetery acquisitions — remaining developable/sellable inventory (unsold plots, niches, or mausoleum space) as a component of asset value beyond the land itself.

Strong Underwriting Profile

Stable or growing case volume with a healthy pre-need contract book
Fully funded, compliant trust and perpetual care accounts
Clean Texas Funeral Service Commission licensing history
Multi-generational or long-tenured ownership with community reputation
Cemetery with meaningful remaining sellable plot/niche inventory

Harder to Finance

Underfunded or non-compliant pre-need trust accounts
Recent licensing violations or commission disciplinary action
Declining case volume with no clear market explanation
Cemetery with little to no remaining developable inventory
Deferred maintenance on chapel, crematory, or grounds infrastructure

Ownership Transitions and Acquisitions

A large share of funeral home financing we see involves generational ownership transitions — a family-owned home passing to the next generation, or a licensed funeral director acquiring an independent home from a retiring owner. These deals hinge on transferable goodwill and community relationships as much as the physical real estate, and we structure financing to reflect both. We also finance crematory additions and cemetery expansion/development financing for adding new sections or mausoleum inventory to an existing property.

Own, Buying, or Expanding a Funeral Home or Cemetery?

Send us the licensing status and case volume history. We'll tell you what the deal qualifies for, usually within 48 hours.

Submit Your Deal →
Food Hall & Ghost Kitchen Financing

Food Hall & Ghost Kitchen Commissary Loans:
Financing Texas Delivery-Era Food Real Estate

Food halls and ghost kitchen commissaries — shared commercial kitchen space built for delivery-only brands and multiple food operators — are a fast-growing category most conventional lenders still evaluate like a traditional single-tenant restaurant. We finance against the real per-kitchen-bay revenue and operator mix, not a generic restaurant real estate template.

60-70%
Max LTV
8-12%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Food halls (multiple independent food vendors sharing a dine-in space) and ghost kitchen commissaries (multiple delivery-only brands sharing commercial kitchen infrastructure) both generate revenue from per-stall or per-bay licensing fees rather than a single restaurant lease — a multi-tenant, food-service-specific model most commercial lenders aren't set up to underwrite. That mismatch causes well-performing facilities to get declined simply because the revenue structure doesn't fit a standard single-tenant restaurant box.

What We Finance

Food Hall Development

Financing for multi-vendor dine-in food hall real estate and buildout

Ghost Kitchen Commissaries

Purchase or refinance of shared delivery-only kitchen facilities

Hybrid Facilities

Combined dine-in and delivery-focused commercial food real estate

Expansion Capital

Capital to add kitchen bays or vendor stalls to an existing facility

Strong Underwriting Profile

12-24 months of vendor occupancy and per-bay/stall revenue history
Diversified operator mix reducing dependency on any single vendor
Health department compliance across all shared kitchen infrastructure
Strong local delivery/dine-in demand supporting continued vendor demand

Harder to Finance

Pre-opening facilities with no vendor commitments or revenue history
High vendor turnover indicating operational or location challenges
Heavy dependence on a single anchor operator for most facility revenue
Health/safety compliance gaps across shared kitchen infrastructure

Development, Acquisition, or Expansion

Whether you're developing a new food hall from the ground up, acquiring an established ghost kitchen commissary, or expanding an existing facility's kitchen bay count, we structure financing around the real per-vendor revenue numbers — not a one-size-fits-all restaurant underwriting model that was never built for this shared, multi-operator category.

Financing a Texas Food Hall or Ghost Kitchen Facility?

Send us the facility, vendor mix, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Food Hall Loan Request →
Golf Course & Country Club Financing

Golf Course & Country Club Loans:
Financing Texas Recreation & Membership Property

Golf courses, country clubs, and private membership facilities are among the hardest commercial assets to finance — most banks treat the golf industry itself as a red flag regardless of how the individual property actually performs. We underwrite the real numbers: membership revenue, green fees, F&B and event income, and the land value underneath, not a blanket industry bias.

55-65%
Max LTV, Golf/Club
8-13%
Rate Range
15-25 yr
Amortization
3-5 wks
Typical Close

Texas has over 800 golf facilities, from municipal courses to private equity clubs, and ownership changes hands constantly — retiring owner-operators, distressed clubs coming out of member-equity structures, and investors converting underperforming courses into more profitable operations. Conventional lenders almost universally decline the asset class outright, citing single-purpose-property risk and the industry's post-2008 reputation, even when the club in front of them has stable membership, positive cash flow, and real land value as a fallback. We look at the actual deal.

What We Finance

Daily-Fee Courses

Purchase or refinance of public/daily-fee golf courses with green fee and cart revenue

Private Country Clubs

Membership-based clubs — acquisition, refinance, or member-equity buyout financing

Club + Real Estate

Golf communities with adjacent residential lots or development land included in collateral

Distressed Club Turnarounds

Value-add acquisitions of underperforming clubs needing capital and repositioning

Strong Underwriting Profile

Documented membership count, dues revenue, and green fee history (2-3 years of P&L or POS reports)
Course conditions, irrigation, and clubhouse maintained with no major deferred capex
Clear title with resolved easements, water rights, and any HOA/development agreements
F&B, banquet, and event revenue as a meaningful secondary income stream
Stable or growing local market with limited new course supply

Harder to Finance

Ground-up golf course construction with no operating history
Active member-equity litigation or unresolved club ownership disputes
Severe deferred maintenance on course irrigation, cart paths, or clubhouse structure
Membership base concentrated and declining with no growth or retention plan
Water rights or irrigation source in dispute or under regulatory restriction

Purchase, Refinance, or Capital for Course Improvements

Golf and club owners often need capital that doesn't fit a standard commercial box — buying out a retiring partner, refinancing a maturing balloon note, or funding clubhouse and irrigation upgrades to stay competitive. We structure purchase, refinance, and cash-out deals against the facility's real income and land value, without the blanket industry-risk pricing that makes most bank golf financing either unavailable or uneconomical.

Buying, Refinancing, or Repositioning a Texas Golf Course or Club?

Send us the membership count, revenue, and acreage details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Golf/Club Loan Request →
Grocery-Anchored Shopping Center Financing

Grocery-Anchored Shopping Center Loans:
Financing Texas's Most Resilient Retail Asset Class

Grocery-anchored centers are widely considered the most recession-resistant retail investment — daily-needs traffic drives consistent foot traffic to in-line tenants regardless of the broader economy. We finance acquisition, refinance, and repositioning of these centers against the real anchor lease strength and in-line tenant mix, with underwriting built around this specific retail subtype.

65-75%
Max LTV
7-11%
Rate Range
20-25 yr
Amortization
3-5 wks
Typical Close

A grocery-anchored center's value is driven overwhelmingly by the anchor's lease strength and sales performance — a strong regional or national grocer with years remaining on its lease and healthy in-store sales anchors reliable in-line tenant demand, while a struggling or short-term anchor lease can undermine the whole property's value. We evaluate anchor tenant credit, remaining lease term, co-tenancy clauses, and the in-line tenant roster together, not a generic retail cap-rate approach that misses what actually drives performance in this subtype.

What We Finance

Stabilized Acquisitions

Purchase financing for centers with a strong anchor and healthy in-line occupancy

Value-Add Repositioning

Capital to re-tenant vacant in-line space or replace a weak/dark anchor

Refinance & Cash-Out

Rate/term or cash-out refinance against a stabilized, income-producing center

Anchor Renewal Bridge

Bridge financing through an anchor lease renewal or replacement process

Strong Underwriting Profile

Established grocery anchor (regional or national) with 5+ years remaining on lease
Healthy in-line tenant occupancy with a diversified, daily-needs tenant mix
Documented anchor sales performance supporting continued occupancy
Strong trade-area demographics and limited nearby grocery competition

Harder to Finance

Dark or vacant anchor space with no confirmed replacement tenant
Anchor lease expiring within 12-18 months with no renewal indication
High in-line vacancy signaling weak trade-area demand
Co-tenancy clauses that could trigger in-line rent reductions or lease terminations

Acquisition, Repositioning, or Refinance

Whether you're acquiring a stable, fully-leased grocery-anchored center, repositioning one with in-line vacancy to fill, or refinancing to fund capital improvements, we structure financing around the real anchor and tenant mix — the numbers that actually drive value in this retail subtype.

Financing a Texas Grocery-Anchored Shopping Center?

Send us the anchor tenant, lease term, and in-line occupancy. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Shopping Center Loan Request →

Heavy Equipment & Construction Equipment Dealer Financing

Commercial real estate loans for dealerships selling, leasing, and servicing bulldozers, excavators, cranes, skid steers, and other heavy machinery across Texas.

A Different Property Than a Standard Auto Dealership

Heavy equipment dealerships carry real estate requirements that neither a conventional auto dealership nor a general industrial building fully accounts for. Reinforced concrete yards rated for tracked and wheeled loads well beyond passenger vehicle weight, service bays built around overhead cranes and in-ground lifts sized for multi-ton machines, parts warehousing for high-value inventory, and outdoor storage yards with security fencing and lighting are all standard requirements for a functioning dealership. Lenders unfamiliar with the equipment-dealer business model often underwrite the real estate as generic industrial space, missing both the specialized improvements that add real value and the site characteristics — drainage, load-bearing capacity, highway or rail access for equipment delivery — that actually drive a location's usefulness to the business.

Commercial Loans of Texas underwrites heavy equipment dealer real estate on its own terms: the yard capacity, the service bay configuration, and the dealership's actual sales and rental revenue, not a generic industrial comp that ignores what makes the property work for this specific use.

New & Used Equipment Dealers

Financing for showroom, service, and yard facilities for dealers representing manufacturers or selling used construction and earthmoving equipment.

Rental & Fleet Yards

Real estate for equipment rental operations — secured outdoor storage, wash-down pads, and maintenance shops for fleets that rotate between job sites.

Agricultural Equipment Dealers

Combine, tractor, and implement dealerships with large parts inventories and service departments built around farm-season demand cycles.

Expansion & Refinance

Cash-out refinance to fund a second location, or acquisition financing for a dealer buying an existing facility from a retiring owner.

What Lenders Actually Look At

  • Yard load capacity and drainage — reinforced surfacing and grading that keeps a storage yard usable in wet Texas seasons
  • Service bay clear heights and crane capacity — bays sized for the equipment classes actually being serviced, not a generic auto-shop layout
  • Site access — highway frontage or truck routes suitable for lowboy trailer deliveries of large machines
  • Manufacturer floor-plan and franchise agreements — dealer agreements often factor into underwriting alongside the real estate itself
  • Parts and inventory value — supports the overall lending case even though it's financed separately from the real estate

Financing a Heavy Equipment Dealership?

Get a same-day term sheet for your yard, service center, or dealership acquisition.

Get Your Free Quote
Indoor Agriculture & CEA Financing

Indoor Agriculture & Controlled Environment Ag Financing:
Underwriting a Building That's Really an Industrial Process

Controlled environment agriculture (CEA) — indoor vertical farms, commercial greenhouses, and hydroponic production facilities — sits at the intersection of real estate and industrial infrastructure. Texas's cheap land, strong grid access in many rural counties, and proximity to major metro produce markets have drawn real CEA development, but the collateral value lives as much in the mechanical systems as the building shell.

Building + Systems
Collateral Split Between Shell & Equipment
Offtake Contract
Often Central to the Underwriting Story
55-65%
Typical Max LTV, Specialized-Use Discount
Varies
By Crop, Technology & Operator Track Record

A conventional greenhouse structure with proven, widely-used growing technology and an established operator is a very different loan than a ground-up vertical farm running proprietary lighting and climate-control systems with no completed comparable facility to point to. We look hard at whether the specific technology, crop, and operator have a real operating history — because CEA has seen genuine successes and genuine high-profile failures, often on the exact same underlying real estate.

What We Look At

Commercial Greenhouse Facilities

Glass or poly-covered structures for produce, floriculture, or nursery production

Indoor Vertical Farms

Fully enclosed, multi-level facilities using artificial lighting and climate control

Hydroponic & Aquaponic Production

Soil-free growing systems, standalone or paired with aquaculture

CEA Building Conversions

Repositioning existing industrial or warehouse shells into controlled-environment production space

Financeable Profile

Established, proven growing technology with completed comparable facilities in operation
Operator with a real production track record or an experienced management team in place
Offtake agreements or established distribution relationships supporting projected revenue
Building shell and mechanical systems have reasonable value if repurposed to another CEA use

Needs Closer Underwriting

Unproven or proprietary technology with no completed, operating comparable facility
First-time operator with no production history in controlled-environment growing
No offtake agreements or distribution relationships — revenue projections resting on spot-market assumptions
Highly specialized mechanical systems with little resale or repurposing value if the operation fails

Why Operator History Matters as Much as the Building

Unlike a warehouse or office building, a CEA facility's income depends on a working biological production process inside it — lighting, climate, and irrigation systems have to actually perform, and the operator has to actually be able to sell what gets grown. We underwrite the real estate and the mechanical infrastructure the way we would any specialized industrial asset, but we weight operator and technology track record more heavily than on a standard commercial building.

Financing a Greenhouse or Indoor Ag Facility?

Tell us about the building, the growing technology, and the operator's track record. We'll structure financing around the real production picture.

Submit Your Loan Request →
Indoor Sports & Recreation Complex Financing

Trampoline Parks, Climbing Gyms & Indoor Sports Complexes:
Financing High-Ceiling, High-Impact Real Estate

Trampoline parks, bouldering and climbing gyms, and indoor turf sports facilities need tall clear-height industrial or big-box shells, reinforced structural anchoring, and specialized insurance — a very different underwriting conversation than a standard retail or office building.

24-40ft
Typical Clear Height Needed
20-60k sf
Typical Facility Size
65-75%
Typical Max LTV
Higher
Liability Insurance Requirement

Repositioning a vacant big-box or industrial shell into a trampoline park, climbing gym, or multi-sport facility usually means a large tenant improvement package on top of the real estate — padded flooring systems, structural anchoring for climbing walls or trampoline frames, and clear-height requirements that rule out most standard retail boxes. We underwrite the building's shell suitability and the operator's insurance and liability program together, since both drive whether the concept actually works in that space.

Concepts We Finance Real Estate For

Trampoline & Adventure Parks

High clear-height industrial or big-box conversions with reinforced anchor points

Climbing & Bouldering Gyms

Tall-ceiling space built around structural climbing walls and bouldering areas

Indoor Turf & Multi-Sport

Indoor soccer, batting cage, and multi-sport turf facility conversions

Youth Fitness & Ninja Gyms

Obstacle-course and youth fitness concepts needing similar structural build-out

Financeable Profile

Shell already has sufficient clear height, reducing structural build-out cost and risk
Operator carries an established liability insurance program suited to the activity type
Location has demonstrated family/youth recreation demand and limited direct competition
Franchise or multi-location operator with a proven operating track record

Needs Closer Underwriting

Low clear-height building requiring costly structural modification to fit the concept
First-time independent operator with no prior facility operating history
Highly specialized build-out with limited alternative-use value if the concept fails
Market already saturated with a similar concept nearby

Why the Shell Matters as Much as the Business Plan

Two operators with identical business plans can have very different financing outcomes depending on whether the building already fits the concept's structural requirements. We look at clear height, floor loading, and column spacing early in the conversation — before the concept and the real estate get too far apart to work together economically.

Financing an Indoor Recreation Concept?

Tell us about the building and the concept. We'll tell you quickly whether the real estate fits.

Submit Your Loan Request →
Last-Mile Logistics & Fulfillment Center Financing

Last-Mile Logistics Loans:
Financing the Fulfillment Real Estate E-Commerce Runs On

Last-mile fulfillment and sortation facilities are a distinct property type from general bulk warehouse — smaller footprints, higher dock-door density per square foot, deep trailer/van staging courts, and infill locations close to population centers rather than cheap land on the outskirts. We finance the purchase, refinance, or build-to-suit of this real estate directly, without forcing it into a generic industrial box comp.

65-75%
Max LTV, Purchase
7-10.5%
Rate Range
20-25 yr
Amortization
3-4 wks
Typical Close

Demand for last-mile fulfillment space has outpaced bulk distribution space in most major Texas metros — carriers and e-commerce operators need infill locations within a short drive of the customers they're delivering to, and those sites are scarcer and more expensive per square foot than land 30 miles outside the loop. Lenders who only know how to underwrite a standard 32-foot-clear bulk warehouse often mis-value the higher dock-door ratio and site-circulation features that make a true last-mile facility work.

What We Finance

Infill Fulfillment Center

Purchase or refinance a last-mile facility close to metro population density

Sortation & Cross-Dock

High dock-door-count facilities built for rapid trailer turnover, not long-term storage

Build-to-Suit for a Named Carrier

Construction-to-permanent financing tied to a signed operator or carrier lease

Multi-Tenant Last-Mile Park

Smaller-bay industrial parks split across several delivery/fulfillment tenants

Strong Underwriting Profile

Infill or near-infill location with genuine last-mile delivery-radius advantage
Dock-door ratio and trailer staging court sized correctly for sortation/fulfillment use, not converted bulk space
Signed lease to a credit-quality carrier, 3PL, or e-commerce operator
Power infrastructure adequate for conveyor/automation systems if applicable
Site circulation supports simultaneous trailer and last-mile van traffic without conflict

Harder to Finance

Far-exurban site with no real last-mile delivery-time advantage over bulk warehouse space
Converted bulk-storage building retrofitted for fulfillment with inadequate dock-door count
Single-tenant lease to an unproven or thinly-capitalized delivery operator
Site circulation constrained — insufficient trailer court or conflicting traffic patterns
Power/utility capacity insufficient for planned automation or refrigeration build-out

Why This Isn't Generic Industrial Underwriting

A last-mile facility's value comes from its location and its ability to turn trailers and delivery vans quickly, not from raw square footage the way a bulk distribution center is valued. We underwrite the dock-door ratio, the site circulation, the delivery radius, and the tenant's actual operating model directly, which is why we can close a last-mile deal faster and more accurately than a lender defaulting to a one-size-fits-all industrial template.

Buying, Building, or Refinancing a Last-Mile Facility?

Send us the location, dock-door count, and current lease or purchase details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Logistics Loan Request →
Laundromat & Coin-Op Financing

Laundromat Financing:
Loans for Texas Coin-Op & Card Laundry Facilities

Laundromats are a proven cash-flow asset — mostly cash or card-based revenue, low staffing overhead, and equipment that lasts 10-15+ years — but most banks won't touch them because the real estate and the business are hard to separate on paper. We underwrite the actual location, equipment, and revenue history, whether you're buying an existing store or refinancing one you already own.

65-75%
Max LTV
7.5-11%
Rate Range
10-20 yr
Amortization
3-4 wks
Typical Close

Conventional lenders often lump laundromats in with other "special purpose" properties and decline them outright, regardless of how the specific business actually performs. That leaves owner-operators and investors stuck financing acquisitions with high-rate business loans, seller notes, or all cash — even when the laundromat itself has years of consistent, verifiable revenue. We look at collections data, equipment condition, and lease terms, not a blanket industry rule.

What We Finance

Owner-Occupied Purchase

Buying the real estate and business together as a single acquisition

Investor Refinance

Cash-out or rate/term refinance on a stabilized, income-producing laundromat

Equipment & Renovation

Capital to modernize machines, add card/app payment systems, or expand square footage

Multi-Location Portfolios

Financing for operators consolidating or acquiring several stores at once

Strong Underwriting Profile

12-24 months of collections/revenue records (route sheets, card processor statements, or POS data)
Machines under 10 years old or a documented equipment replacement plan
Lease term of 10+ years remaining (or fee-simple ownership of the real estate)
Stable or growing rooftop density in the surrounding trade area
Clean utility history — no unresolved water/sewer disputes tied to high-volume usage

Harder to Finance

Cash-only operations with no verifiable revenue trail
Aging, unmaintained equipment with no capex plan
Short remaining lease term with no renewal option
Start-up laundromats with no operating history
Declining rooftop counts or new competing stores nearby

Buying an Existing Store or Refinancing One You Already Run

Most laundromat deals fall into two buckets: an operator buying an established store from a retiring owner, or an existing owner refinancing a maturing note or pulling cash out for expansion. We structure both against the store's real collections and equipment value, not a generic small-business rate that ignores how stable this asset class actually is when it's run well.

Buying or Refinancing a Texas Laundromat?

Send us the location, equipment count, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Laundromat Loan Request →
Life Science & Lab Space Financing

Life Science & Lab Building Financing:
Underwriting Specialized Infrastructure

Wet lab and life science space carries build-out costs and infrastructure demands far beyond standard office — reinforced floor loads, upgraded HVAC and air-change rates, emergency power, and fume hood exhaust systems. Texas's growing biotech corridors around the Houston Medical Center, Austin, and Dallas need financing that understands those numbers.

$150-400+/sf
Typical Wet Lab TI Cost
6-12+
Air Changes/Hour Required
65-75%
Typical Max LTV
Varies
By Tenant Stage & Credit

Life science real estate splits roughly into dry lab/office-like space and true wet lab space with plumbing, gas lines, and fume hoods — the underwriting and exit strategy differ sharply between the two. A building already built out for wet lab use, with infrastructure a future tenant can reuse, carries very different collateral value than a shell that would need a full specialized build-out for the next tenant.

What We Look At

Houston Medical Center Corridor

Space near the world's largest medical complex, serving research and clinical-adjacent tenants

Austin Biotech & Research

Growing lab and R&D demand tied to UT-Austin and the region's tech-adjacent life science growth

Existing Wet Lab Conversions

Repositioning flex/industrial space into wet lab use with plumbing and exhaust infrastructure

Dry Lab & R&D Office

Lower-infrastructure research and office-hybrid space serving early-stage or admin-heavy tenants

Financeable Profile

Existing lab infrastructure (fume hoods, gas lines, upgraded HVAC) reusable by a future tenant
Tenant is an established, funded, or revenue-generating life science company
Building located in a recognized life science submarket with demonstrated leasing demand
Lease includes tenant responsibility for specialized equipment and infrastructure maintenance

Needs Closer Underwriting

Pre-revenue biotech tenant with no institutional funding history backing the lease
Highly specialized build-out with limited reuse value if that specific tenant vacates
Building outside an established life science submarket with no comparable lab leasing activity
Ground-up wet lab construction with no anchor tenant pre-committed

Why Specialized Infrastructure Changes the Exit

A generic office building re-leases to almost any office tenant. A wet lab build-out narrows the pool of future tenants who can use that space as-is — which cuts both ways: it's a real barrier to competition if you're in the right submarket with the right infrastructure already in place, and a real risk if the tenant base for that specific niche is thin. We underwrite both the current lease and that re-tenanting reality before sizing the loan.

Financing a Lab or Life Science Property?

Tell us about the building's infrastructure and tenant profile. We'll structure financing around the real specialized-asset picture.

Submit Your Loan Request →
Light Manufacturing Financing

Light Manufacturing Facility Financing:
Capital for Texas Production & Assembly Space

Light manufacturing space isn't the same underwriting problem as a distribution warehouse — three-phase power upgrades, floor-load capacity for equipment, ventilation/dust collection systems, and specialized permitting all change the risk profile most generalist commercial lenders aren't set up to evaluate. We finance acquisition, buildout, and refinance of light manufacturing and assembly facilities across Texas.

Acquisition

Purchase an existing production facility or convert flex/industrial space

Buildout & Equipment Pad

Power, ventilation, and floor upgrades for new equipment installs

Cash-Out Refinance

Free up equity in owner-occupied manufacturing real estate

Sale-Leaseback

Convert owned facility equity to working capital while staying in place

Easier to Finance

Existing three-phase power service already at or near required capacity
Established operating history in the same or a comparable facility
Clean environmental history — no prior hazardous-use tenant on the site

Harder to Finance

Ground-up power/utility upgrade required with no interconnection timeline confirmed
First-time owner-operator with no manufacturing facility track record
Unresolved zoning for the specific manufacturing use (noise, emissions, hours)

Financing Structured Around the Facility, Not Just the Balance Sheet

We look at the real estate and infrastructure fundamentals — power capacity, floor load, zoning, and access — alongside the borrower's operating history, rather than requiring the multi-year audited financials a bank typically demands before touching a manufacturing credit. That makes us a fit for established operators expanding into a new facility and newer manufacturers who don't yet have three years of bank-ready statements.

Financing a Texas Manufacturing or Assembly Facility?

Send us the site, power/utility status, and intended use. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Manufacturing Facility Financing Request →
Loan Type Guide

5 Types of Texas Commercial Loans —
Which One Do You Need?

Bridge, hard money, construction, permanent, SBA — each serves a different purpose at a different cost. Here's how they compare so you can match the right loan to your deal.

1
Bridge Loan

Bridge Financing

Short-term gap financing, 6–36 months
Rate8–11%
Term6–36 months
Max LTV75–80%
AmortizationInterest-only
Close Time2–4 weeks

Used to bridge from one state to another: buy before you sell, buy a property that needs stabilization before a permanent loan, or fund a value-add project before a conventional refinance. Lower rate than hard money, slightly slower close.

2
Hard Money

Hard Money Loan

Asset-based, fast close, distressed properties
Rate11–14%
Term6–18 months
Max LTV75–85% of purchase
AmortizationInterest-only
Close Time7–14 days

The fastest close, highest rate. Used for fix-and-flip, auction purchases, and distressed acquisitions that can't qualify for bridge or conventional. Property condition is irrelevant — we lend on ARV and equity.

3
Construction

Construction Loan

New builds and major rehabs, draw-based
Rate9–13%
Term12–24 months
Max LTC75–80% of cost
AmortizationDraw schedule (IO)
Close Time3–5 weeks

Funds released in draws as construction milestones are met — not upfront. Interest only on drawn amount. Converts to permanent loan or is paid off upon completion. Requires approved plans, permits, and a licensed GC.

4
Permanent / DSCR

Permanent Loan

Long-term hold, income-producing property
Rate7–8.5%
Term5–30 years
Max LTV75–80%
Amortization25–30 years
Close Time2–4 weeks

The long-game loan: stabilized rental income qualifies the loan, not your personal W-2. DSCR loans have no property count limit, work for LLCs, and close faster than conventional. Used for buy-and-hold investors who want predictable 30-year payments.

5
SBA

SBA 7(a) / 504

Owner-occupied business real estate, low down
RatePrime+2.75% / 5.5–6.5%
Term10–25 years
Down Payment10–15%
AmortizationFully amortizing
Close Time45–90 days

Only for businesses that owner-occupy the property (51%+ for 7(a), 51%+ for 504). Lowest down payment available. Slowest close. SBA 504 splits the loan between a bank (50%) and SBA CDC (40%) — best fixed-rate option for qualifying businesses.

Loan Sequencing by Deal Type

Most deals use multiple loan types in sequence. Here's how experienced Texas investors stack them:

Fix & Flip (In-and-Out)
Hard Money (acquire)→Hard Money (carry rehab)→Payoff at sale
BRRRR — Buy, Rehab, Rent, Refi, Repeat
Hard Money (acquire)→Stabilize + rent→DSCR Permanent (30yr)
Ground-Up Construction → Hold
Construction Loan→Lease-up period→Permanent / DSCR
Value-Add Multifamily Acquisition
Bridge Loan (acquire + rehab)→DSCR at stabilized value (pull equity)
Owner-Occupied Business Property
SBA 504 or 7(a)→Hold + business growth

Not Sure Which Loan Type Fits Your Deal?

Describe your project and Daniel will tell you which structure makes the most sense — and issue a term sheet within 24 hours if it's fundable.

Submit Your Deal →
Marina & Boat Storage Financing

Marina & Boat Storage Commercial Loans:
Financing Texas Waterfront Income Property

Marinas, dry-stack boat storage, and RV/boat storage facilities are specialty commercial real estate that most banks decline outright — the income model (slip rentals, storage fees, fuel dock revenue) doesn't fit a standard commercial underwriting box. We finance these deals directly, on the property's real income and location, with the speed a marina purchase or refinance actually needs.

60-70%
Max LTV, Marina/Storage
8-12%
Rate Range
20-30 yr
Amortization
2-4 wks
Typical Close

Texas has thousands of miles of coastline and reservoir shoreline — Lake Travis, Lake Conroe, Lake Texoma, the Gulf Coast from Galveston to South Padre — and demand for wet slips, dry-stack storage, and boat/RV storage yards has outpaced supply in most of these markets for years. But marinas and storage facilities carry operational risk factors (seasonal revenue swings, environmental/wetland exposure, fuel dock liability, aging bulkheads and docks) that push most conventional and SBA lenders to decline the asset class entirely, regardless of how strong the actual occupancy and revenue numbers are.

What We Finance

Wet Slip Marinas

Purchase or refinance of operating marinas with dockage, fuel, and service income

Dry-Stack Storage

Indoor/rack boat storage facilities — purchase, refi, or expansion

Boat & RV Storage Yards

Outdoor covered/uncovered storage lots with fenced, gated access

Marina Redevelopment

Value-add acquisitions needing dock, bulkhead, or facility upgrades

Strong Underwriting Profile

Documented slip/storage occupancy and rate history — rent roll or POS revenue reports
Bulkheads, docks, and floating structures in serviceable condition with no deferred maintenance backlog
Clear title with resolved submerged-land lease or riparian rights documentation
Fuel dock and environmental compliance current (tank testing, spill containment)
Location on a stable or growing lake/coastal market with limited new supply

Harder to Finance

Unresolved submerged-land lease disputes with a river authority or the GLO
Significant hurricane/flood damage history with no completed repairs
Environmental contamination flags from fuel storage without remediation records
Speculative ground-up marina construction with no operating history
Facilities in declared floodway with unresolved permitting issues

Purchase, Refinance, or Cash-Out for Facility Improvements

Marina and storage operators often need capital a rigid bank use-of-funds policy won't accommodate — adding dry-stack racks, replacing aging bulkheads, buying out a partner, or funding a fuel dock upgrade. We structure purchase, refinance, and cash-out deals against the facility's real value and income, without the environmental-risk-averse box-checking that sinks most marina loan requests at conventional lenders.

Buying, Refinancing, or Expanding a Texas Marina or Storage Facility?

Send us the slip/storage count, occupancy, and revenue details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Marina/Storage Loan Request →
Medical Imaging & Dialysis Center Financing

Imaging & Dialysis Center Loans:
Real Estate Financing for High-Equipment Medical Facilities

Freestanding imaging centers (MRI, CT, diagnostic radiology) and outpatient dialysis facilities carry a real estate profile that's different from a standard medical office — heavier power/HVAC infrastructure, equipment-driven build-outs, and long-term single-tenant or provider-group leases. We finance the real estate behind both purchase and refinance, and we underwrite the property and lease structure, not just a generic medical-office comp.

65-75%
Max LTV, Purchase
7.5-11%
Rate Range
20-25 yr
Amortization
3-5 wks
Typical Close

Imaging and dialysis facilities tend to sit on long-term, provider-backed leases (or provider-owned real estate) with build-outs that are expensive to replicate — shielded imaging suites, dedicated water treatment and reverse-osmosis systems for dialysis, backup power. That makes the real estate itself unusually durable collateral when the underlying lease and operator are sound, but it also means a lender needs to actually understand the equipment and infrastructure, not treat it like a generic office building.

What We Finance

Freestanding Imaging Center

Purchase or refinance real estate for MRI, CT, or diagnostic imaging operations

Outpatient Dialysis Facility

Financing for single-site or multi-chair dialysis clinics, independent or provider-network operated

Build-to-Suit / Ground-Up

Construction-to-permanent financing for a purpose-built imaging or dialysis facility

Sale-Leaseback

Free up capital from owned real estate while the operating group stays in place on a long-term lease

Strong Underwriting Profile

Long-term lease (10+ years) to a credit-quality provider or established multi-site operator
Equipment and build-out current with modern imaging/dialysis standards, not near end-of-life
Location with defined patient draw radius and limited nearby freestanding competition
Payer mix diversified across commercial, Medicare, and Medicaid reimbursement
Certificate of Need or state licensing (where applicable) current and transferable

Harder to Finance

Short-term or month-to-month lease with no renewal commitment from the operator
Aging equipment requiring near-term replacement not reflected in the deal economics
Single-payer concentration risk with no reimbursement diversification
Facility built for a single, non-transferable specialty use with limited backup tenant demand
Pending licensing, CON, or regulatory action on the operating entity

Why This Isn't a Generic Medical-Office Deal

A bank that underwrites imaging and dialysis real estate the same way it underwrites a family-practice office building will usually misprice both the risk and the opportunity — the equipment infrastructure adds real replacement cost if a tenant leaves, but a strong provider lease on a well-located facility is some of the most durable medical real estate there is. We look at the lease, the operator's track record, and the facility's actual equipment condition directly, so financing moves at the pace the deal actually deserves.

Buying, Building, or Refinancing an Imaging or Dialysis Facility?

Send us the location, lease terms, and current facility details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Imaging/Dialysis Loan Request →
Medical Spa & Wellness Facility Financing

Medical Spa & Wellness Facility Loans:
Financing Texas's Booming Aesthetic & Wellness Real Estate

Med spas, IV therapy clinics, cryotherapy studios, and wellness centers blend medical-adjacent licensing with retail-style buildout — a combination that confuses conventional lenders who don't know whether to underwrite it as medical office or retail. We finance the real estate against actual membership and treatment revenue, whichever category it falls under.

60-70%
Max LTV
8-12%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Medical spas and wellness facilities occupy a gray area between medical office and cosmetic/retail real estate — many require a supervising physician relationship for injectables and laser treatments, carry specific licensing depending on services offered, and need buildout ranging from simple treatment rooms to specialized equipment bays for cryotherapy or IV infusion. Conventional lenders unfamiliar with the category often decline it as "too niche" rather than evaluating the specific business's real revenue and membership model.

What We Finance

Med Spa & Aesthetics Clinics

Purchase or refinance of facilities offering injectables, laser, and cosmetic treatments

IV Therapy & Wellness Clinics

Financing for hydration/wellness infusion clinics and recovery-focused facilities

Cryotherapy & Recovery Studios

Acquisition or buildout of cold therapy, compression, and recovery-focused wellness space

Multi-Location Expansion

Portfolio financing for operators growing across multiple Texas locations

Strong Underwriting Profile

12-24 months of membership and treatment revenue history documented
Current medical director/supervising physician relationship where required by service type
Appropriate state licensing for all services offered, with no compliance issues
Location in a strong, growing consumer-spending trade area

Harder to Finance

Pre-opening buildouts with no membership or revenue history
Licensing gaps or missing supervising-physician relationship for regulated services
Heavy reliance on one-time treatments with no recurring membership revenue
Overbuilt submarkets with several competing facilities opening at once

Acquisition, Buildout, or Expansion Capital

Whether you're buying an established med spa, building out a new wellness clinic, or expanding a growing brand to additional Texas locations, we structure financing around the real membership and treatment revenue — not a generic uncertainty discount for a category most lenders simply haven't learned to underwrite yet.

Financing a Texas Med Spa or Wellness Facility?

Send us the facility, services offered, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Wellness Facility Loan Request →
Mezzanine & Gap Financing

Mezzanine & Gap Financing:
Filling the Space Between Your Senior Loan and Your Equity

Most deals don't fail because the senior lender said no — they fail because senior debt only covers 60-70% and the sponsor doesn't have the rest sitting in cash. Mezzanine and gap financing sits between your first mortgage and your own equity, closing that hole without giving up ownership or waiting on a partner search.

75-85%
Combined Max LTV (Senior + Mezz)
10-16%
Mezz Rate Range
2-5 yr
Typical Term
No Equity Dilution
Structured as Debt

Mezzanine debt occupies the middle of the capital stack — subordinate to your senior mortgage, but senior to your own equity. It's secured differently than a second mortgage (typically a pledge of the ownership entity's equity interests rather than a direct lien on the real estate), which lets it close alongside a senior loan that itself prohibits a second lien. The result: more total leverage without bringing in a new equity partner or selling down your ownership stake.

Where This Sits in the Capital Stack

Sponsor EquityYour cash, last to be repaid, first to absorb loss
Mezzanine / Gap FinancingFills the space between equity and senior debt
Senior MortgageFirst lien, lowest cost, repaid first

Common Uses

Bridging the gap between a signed senior loan commitment and a purchase price/refinance payoff
Funding a portion of ground-up construction costs above what the construction lender will cover
Buying out a partner or recapitalizing ownership without a full refinance of the senior debt
Value-add renovation capital layered on top of an existing, unchanged senior mortgage

What We Look At

Combined loan-to-value across senior + mezz, and whether projected cash flow services both
Whether the senior lender's documents actually permit subordinate/mezzanine financing behind them
Sponsor experience and remaining equity commitment — mezz supplements a real equity stake, it doesn't replace one
A credible exit — refinance, sale, or stabilization event that repays the mezz piece on schedule

Structured Alongside Your Existing Lender, Not Against Them

We coordinate directly with your senior lender to confirm the structure works within their loan documents before you commit to anything — an intercreditor agreement or equity-pledge structure is standard, and getting it wrong is what causes mezz deals to fall apart at closing. We handle that coordination as part of the process, not as an afterthought.

Have a Capital Gap Between Your Senior Loan and Your Equity?

Tell us the deal, the senior terms, and the gap size. We'll tell you what structure fits — usually within 48 hours.

Submit Your Mezzanine Financing Request →
Manufactured Housing Community Financing

Manufactured Housing Community Loans:
Financing the Park, Not the Home

A manufactured housing community (MHC/MHP) is a land-and-infrastructure real estate asset — roads, pads, utility hookups, and lot rent income — not a portfolio of individual homes. We underwrite the park's occupancy, lot rent stream, and infrastructure condition directly, the way this asset class actually performs for owner-operators.

65-75%
Max LTV
7-11%
Rate Range
20-25 yr
Amortization
3-6 wks
Typical Close

Most bank lenders treat manufactured housing communities as a niche they'd rather avoid — the collateral doesn't look like a typical apartment complex, and evaluating tenant-owned vs. park-owned homes, lot rent roll quality, and infrastructure (water/sewer systems, road condition, utility metering) takes real sector experience most generalist underwriters don't have. We finance the park as the income-producing real estate asset it is.

What We Finance

Stabilized Acquisitions

Purchase of an occupied, cash-flowing manufactured housing community with an established lot rent roll

Value-Add Repositioning

Capital for infrastructure upgrades, pad expansion, or converting park-owned homes to tenant-owned

Refinance & Cash-Out

Refinancing a maturing note or pulling equity out of a stabilized, well-run community

Portfolio Acquisitions

Financing for operators acquiring multiple communities across Texas markets

Strong Underwriting Profile

Stabilized occupancy with a documented lot rent roll and payment history
Municipal water/sewer service (vs. aging private septic/well systems)
Majority tenant-owned homes (lower capex burden, stronger resident equity)
All-paved roads and metered utilities in good working condition
No open code violations or unresolved zoning/permit issues

Harder to Finance

Heavy deferred infrastructure maintenance (failing septic, unpaved roads)
Low occupancy with no clear lease-up plan or comparable market data
Majority park-owned homes with significant unrecorded age/condition risk
Unresolved flood plain, zoning nonconformity, or title issues on the land

Acquisition, Repositioning, or Portfolio Growth

Whether you're buying a first stabilized community, repositioning an underperforming park with real infrastructure investment, or scaling a multi-property MHC portfolio across Texas, we structure financing around the park's actual income and physical condition — not a generic land-value formula that misreads this asset class.

Financing a Texas Manufactured Housing Community?

Send us the unit count, occupancy, lot rent roll, and infrastructure details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your MHC Loan Request →
Manufactured Housing Communities

Mobile Home Park Loans in Texas:
The Highest Cash-on-Cash Asset Class Most Lenders Ignore

Manufactured housing communities (MHCs) post some of the strongest cap rates and lowest turnover of any commercial real estate category — but most banks won't touch them. We underwrite land-lease parks, pad-rented communities, and tenant-owned-home deals across Texas.

65-75%
Max LTV
7.5-10.5%
Rate Range
20-25 yr
Amortization
1.20x+
Min DSCR

Mobile home parks — more accurately called manufactured housing communities in underwriting circles — occupy a strange spot in commercial real estate. Institutional capital has poured into the sector over the last decade because the fundamentals are extraordinary: tenants own their own homes and simply rent the land underneath, which means move-out costs run into the thousands of dollars for a resident and turnover across well-run Texas parks frequently sits under 5% annually. Add limited new supply — most Texas municipalities have not approved a new MHC in years due to zoning pushback — and you get an asset class with rent growth and occupancy stability that rivals Class A multifamily at a fraction of the price per pad.

Despite that, community banks and life insurance lenders frequently pass on manufactured housing deals. Some carry outdated stigma from decades-old "trailer park" perceptions; others simply don't have an underwriting box built for land-lease income. That gap is where direct commercial lenders compete hardest — and where borrowers who understand the asset class can win financing terms that traditional buyers never see quoted.

What We Underwrite On a Texas MHC Deal

Pad count and occupancy trend over the trailing 12 months, tenant-owned vs. park-owned home mix (park-owned homes carry more maintenance risk but also higher blended income), utility structure (submetered water/sewer/electric materially improves NOI versus master-metered), city or county infrastructure status, and — critically — whether the community is a legal, permitted use under current zoning. Texas has thousands of legacy parks that predate current zoning codes and operate as legal non-conforming uses; we verify that status before underwriting, because it directly affects refinance and exit options.

Financeable vs. Difficult Park Types

Strong Underwriting Profile

Land-lease model — residents own homes, park owns dirt and infrastructure
Paved roads, city water/sewer, individually metered utilities
90%+ pad occupancy sustained 12+ months
Waiting list or documented demand for available pads
Age-restricted (55+) communities with stable, long-tenure residents
Located within 30 minutes of a Texas metro or growth corridor

Harder to Finance

Majority park-owned homes in poor condition — treated more like a housing operator than real estate
Well and septic systems with no path to municipal utilities
Unclear or contested legal non-conforming zoning status
Gravel or unpaved internal roads needing capital improvement
Rural locations with declining population or no economic driver
Deferred infrastructure maintenance — aging water/sewer lines

Value-Add MHC Financing

A large share of the manufactured housing deals we fund are value-add: an operator buys a mismanaged park below replacement cost, converts master-metered utilities to submetered (typically the single highest-ROI capital improvement in the sector), fills vacant pads, and pushes below-market lot rents up to submarket rates over 12-24 months. We structure these as bridge-to-permanent financing — an initial loan sized to the in-place cash flow with a clear path to refinance at a lower rate and higher proceeds once the business plan is executed and NOI has stabilized.

Texas MHC lot rents remain meaningfully below coastal and Sun Belt peer markets even after several years of increases, which is exactly why institutional and private capital continues targeting the state. If you're acquiring, refinancing, or repositioning a manufactured housing community anywhere in Texas, we can underwrite it directly — no committee, no "we don't do parks" rejection three weeks into the process.

Own or Buying a Texas Mobile Home Park?

Send us the rent roll and pad count. We'll tell you what it qualifies for — acquisition, refinance, or value-add bridge — usually within 48 hours.

Submit Your Park Deal →
Modular & Container Building Financing

Modular & Container-Based Building Financing:
When Off-Site Construction Changes the Underwriting

Modular (factory-built, permanently installed) and container-based structures have moved well past temporary job-site trailers into real permanent commercial use — retail pop-ups, restaurant and coffee-kiosk buildouts, offices, self-storage add-ons, and workforce housing. The construction method changes how a lender looks at draws, appraisal comps, and permanent-loan takeout, and that's exactly where we start.

Off-Site Build
Most Value Created Before Installation
Draw Schedule
Structured Around Factory + Site Milestones
Permanent Foundation
Required for Real-Property Treatment
Varies
By Use, Jurisdiction & Modular Vendor

The core underwriting question is whether the structure is permanently affixed real property (foundation, utility hookups, no wheels or removable chassis) or something closer to personal property that happens to sit on a commercial site. Permanently installed modular buildings on owned or long-leased land underwrite like conventional commercial real estate; anything closer to a movable, non-permanent installation gets evaluated very differently.

What We Look At

Modular Retail & Restaurant

Factory-built retail pads, coffee kiosks, and quick-service restaurant buildings

Modular Office & Workforce Housing

Permanently installed office space and multi-unit workforce/crew housing

Container-Based Commercial Space

Shipping-container retail, storage, and mixed-use buildouts on a permanent slab

Modular Additions to Existing Sites

Self-storage offices, ancillary buildings, and expansions added to an existing property

Financeable Profile

Permanent foundation, code-approved utility hookups, and local building department sign-off
Established modular fabricator with a track record and clear factory-to-site draw milestones
Land owned or under a long-term lease, with the structure treated as real property, not personal property
Comparable sales or lease data supporting value for the finished, installed structure

Needs Closer Underwriting

Structure retains a removable chassis, wheels, or is not permanently affixed to the land
First-time or unproven modular fabricator with no completed comparable projects
Thin local comps for a finished modular or container building in that specific use and market
Draw structure that releases most funds before factory completion is verified

Why the Draw Schedule Looks Different

With site-built construction, value accrues in place, in front of the lender, as the building goes up. With modular and container construction, a large share of value is created off-site at a factory before anything is ever delivered — so draws typically split between factory-progress payments (often milestone- and inspection-verified) and a smaller site-work/installation tranche. We structure financing around that split rather than forcing a standard site-built draw schedule onto an off-site build.

Financing a Modular or Container-Based Building?

Tell us about the build method, fabricator, and installation site. We'll structure financing around how the value is actually being created.

Submit Your Loan Request →
Movie Theater & Cinema Financing

Movie Theater Loans:
Financing Texas Cinema & Entertainment Real Estate

Streaming headlines make banks nervous about movie theaters as an asset class — but Texas's surviving and growing operators (boutique dine-in concepts, premium-format multiplexes, second-run discount houses) are often the strongest performers in their markets, and the real estate underneath a theater is frequently worth financing on its own merits regardless of industry-wide box office noise.

55-65%
Max LTV, Cinema
8-12.5%
Rate Range
15-25 yr
Amortization
3-5 wks
Typical Close

The theaters that struggled hardest post-2020 were undifferentiated multiplexes competing purely on ticket price against home streaming. The ones thriving now have pivoted — dine-in service, premium large-format screens, recliner seating, bar/lounge revenue, private event rentals, and alternative content (concerts, sports, gaming) that fills seats on nights a traditional release schedule wouldn't. We underwrite what the specific property actually generates today, not a blanket "theaters are dying" assumption pulled from a national trade headline.

What We Finance

Boutique / Dine-In Cinema

Purchase or refinance of premium dine-in and lounge-format theater concepts

Multiplex Acquisition

Buying an existing multi-screen theater from a retiring operator or distressed chain

Adaptive Reuse to Cinema

Converting retail, big-box, or event space into a theater build-out

Screen & Amenity Upgrades

Cash-out refinance to fund recliner, premium-format, or F&B renovations

Strong Underwriting Profile

Documented ticket, concession, and F&B/bar revenue with 2-3 years of P&L history
Diversified revenue beyond first-run box office — events, alternative content, private rentals
Location in a growing trade area with limited direct competition nearby
Screens, projection, and HVAC maintained with no major deferred capex
Operator with a real track record running the venue, not a first-time owner-operator

Harder to Finance

Undifferentiated multiplex relying solely on standard first-run ticket sales
Declining trade area with population loss or a newer competing theater nearby
Significant deferred maintenance on projection, seating, or building systems
Ground-up new cinema construction with no operating history behind it
Lease structure with a short remaining term and no renewal options

Purchase, Refinance, or Capital for Renovation

Cinema owners increasingly need capital to reposition an aging multiplex into a premium, differentiated concept — recliner seating, a bar, a dine-in kitchen — rather than continuing to compete on ticket price alone. We structure purchase, refinance, and cash-out deals against what the property and business actually produce, without the flat industry-risk pricing that makes most conventional theater financing either unavailable or uneconomical.

Buying, Refinancing, or Repositioning a Texas Movie Theater?

Send us the screen count, revenue, and property details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Cinema Loan Request →
Note Purchase Financing

Note Purchase Financing:
Capital to Acquire Performing & Non-Performing Commercial Notes

Buying a commercial mortgage note — rather than the property behind it — is a different acquisition than a typical CRE deal, and most lenders don't know how to underwrite it. We do: financing for investors acquiring performing notes at a discount, sub-performing notes with a workout plan, or non-performing notes headed toward foreclosure or a deed-in-lieu.

Up to 65-75%
LTV of Purchase Price
Performing & Non-Perf.
Note Status We Finance
7-21 Days
Typical Close
Any State
UCC/Assignment Handled

Note buying is fundamentally an underwriting-of-the-underwriting exercise: the collateral property still matters, but so does the borrower's payment history, the note's legal enforceability, the lien position, and — for a non-performing note — a realistic read on foreclosure timeline and cost in that state. We finance the acquisition itself, secured by an assignment of the note and its underlying lien, so an investor can move on a note purchase opportunity without tying up all their own capital.

Performing vs. Non-Performing — Different Deals, Different Underwriting

Performing Note Purchases

Buying a seasoned, paying note at a discount to face value for yield
Underwriting centers on payment history, borrower financials, and remaining term
Straightforward assignment of note and lien — lowest-risk profile of the two

Non-Performing / Sub-Performing

Buying a defaulted or under-paying note with a workout, modification, or foreclosure plan
Underwriting centers on the collateral's real value and that state's foreclosure timeline/cost
Requires a credible exit plan — reperforming modification, foreclosure sale, or REO disposition

Lien Position and Legal Enforceability Come First

Before anything else, we confirm the note's lien position, chain of assignment, and that it's actually enforceable in the property's jurisdiction — a note purchase financed against a defective assignment or a stale statute-of-limitations issue is a deal that shouldn't close. We work through that diligence alongside you, not after the fact.

Have a Note Purchase Opportunity?

Tell us about the note — balance, status, lien position, and property — and we'll tell you what financing fits.

Submit Your Note Purchase Request →
Office-to-Residential Conversion Financing

Office-to-Residential Conversion Loans:
Financing the Adaptive Reuse of Vacant Office Space

Texas office vacancy has pushed owners of aging Class B/C buildings to look hard at conversion — turning empty floors into apartments, condos, or mixed-use space. Most banks won't touch the construction risk on a use-change project. We finance the acquisition, the conversion capex, and the stabilization bridge as one deal.

60-70%
Max LTC, Conversion
9-13%
Rate Range
12-24 mo
Bridge/Construction Term
3-5 wks
Typical Close

A vacant or half-empty office building is a hard hold for its owner — negative or thin cash flow, a maturing loan with no refinance appetite from the original lender, and a building that's genuinely obsolete for office use in its current floor plan. Converting to residential, medical, or mixed-use often pencils better than continuing to chase office tenants, but the construction, permitting, and repositioning risk during the conversion period is exactly what conventional lenders won't underwrite. We will.

What We Finance

Acquisition + Conversion

Purchase of a distressed or underperforming office asset plus capital for full residential/mixed-use conversion

Existing-Owner Bridge

Bridge financing for owners already holding the asset who need capital to execute the conversion themselves

Stabilization Take-Out

Refinance out of expensive construction debt once units are leased/sold and cash flow stabilizes

Mixed-Use Repositioning

Ground-floor retail/medical retained with upper floors converted to residential or hospitality

Strong Underwriting Profile

Building floor plate and window layout genuinely suitable for residential conversion (not every office shell works)
Realistic, contractor-backed conversion budget with contingency built in
City/municipality supportive of the use change — zoning already allows it or a clear entitlement path exists
Sponsor with prior construction or repositioning experience, even if not office-specific
Located in a submarket with real residential/rental demand to absorb the converted units

Harder to Finance

Deep floor plates with limited natural light — a known structural obstacle to residential conversion
First-time sponsor with no construction or repositioning track record on any asset type
Unresolved zoning or entitlement risk with no clear approval timeline
Submarket with weak residential absorption or oversupply already underway
Budget with no contingency in a project type prone to unexpected structural/MEP surprises

Purchase, Bridge, or Stabilization — One Lender Through the Whole Conversion

Conversion projects often stall because the acquisition lender, the construction lender, and the take-out lender are three different relationships with three different underwriting standards. We structure the acquisition and conversion capital together and can carry the deal through stabilization, so you're not re-underwriting the project with a new lender at every phase.

Sitting on a Vacant or Underperforming Office Asset?

Send us the building, the vacancy, and your conversion concept. We'll tell you what financing structure fits — usually within 48 hours.

Submit Your Conversion Loan Request →
Pet Boarding & Doggy Daycare Financing

Pet Boarding & Doggy Daycare Facility Loans:
Financing Texas Pet Care Real Estate

Pet boarding, doggy daycare, and grooming facilities are a fast-growing commercial category riding rising pet ownership and spending — but the specialized buildout (kennels, play yards, ventilation, sound mitigation) and licensing requirements make most banks treat it as a generic, hard-to-value special-purpose property. We finance against real occupancy, membership, and revenue data.

60-70%
Max LTV
8-12%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Pet care real estate requires a buildout most conventional lenders don't know how to value — indoor/outdoor play yards, climate-controlled kennel runs, sound and odor mitigation, and sometimes on-site grooming or veterinary space. That specialized investment doesn't translate cleanly to a generic retail or industrial appraisal, and lenders unfamiliar with the pet-care industry's strong growth trend often decline these deals on asset-class policy rather than evaluating the specific facility's numbers.

What We Finance

Boarding & Kennel Facilities

Purchase or refinance of overnight pet boarding facilities with existing occupancy history

Doggy Daycare Centers

Acquisition or refinance of daytime dog daycare and play facilities

Combined Pet Care Buildings

Facilities combining boarding, daycare, grooming, and training under one roof

Buildout & Expansion Capital

Capital to expand capacity, add climate control, or upgrade play/kennel areas

Strong Underwriting Profile

12-24 months of occupancy, membership, and revenue history documented
Current local licensing/permits with no violations, and appropriate liability insurance
Location in a growing residential/pet-density trade area with limited direct competition
Experienced operator with a track record running similar pet-care facilities

Harder to Finance

Pre-opening/ground-up buildouts with no operating history
Licensing lapses or unresolved animal welfare complaints
Declining occupancy or heavy reliance on holiday-season boarding only
Zoning restrictions on animal-related commercial use not yet confirmed

Acquisition, Buildout, or Refinance

Whether you're buying an established boarding or daycare facility, building out a new location to capture growing local pet-care demand, or refinancing to fund expansion, we structure financing against the real occupancy and revenue numbers — not a generic special-purpose-property rate that ignores how well this specific industry is actually performing.

Financing a Texas Pet Boarding or Daycare Facility?

Send us the facility type, occupancy, and revenue history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Pet Care Facility Loan Request →
Environmental Due-Diligence Guide

Phase I ESA & Commercial Due Diligence:
What Every Texas CRE Buyer Should Know

A Phase I Environmental Site Assessment is one of the least understood — and most deal-killing when skipped — steps in a commercial real estate purchase. Almost every commercial lender requires one before closing, and knowing what it actually checks, what triggers a costlier Phase II, and how to budget for it up front keeps a good deal from stalling at the worst possible moment.

$2K-$6K
Typical Phase I Cost
2-4 wks
Turnaround Time
180 days
Report Validity
~90%
Of CRE Deals Require One

A Phase I ESA is a records-and-inspection review, not soil testing — it examines historical property use, adjoining property use, regulatory database listings, and a physical site walk to identify Recognized Environmental Conditions (RECs) that could indicate contamination. It does not involve drilling or lab samples; that only happens if the Phase I flags something specific enough to escalate.

What Triggers Extra Scrutiny

Prior Industrial Use

Former gas station, dry cleaner, auto shop, or manufacturing site on the property or adjacent to it

Underground Storage Tanks

Existing or removed USTs, even decades old, showing up in state regulatory records

Adjacent Contamination

A neighboring property with an open environmental case that could migrate onto the subject site

Unusual Staining or Odors

Anything the site inspector physically observes during the property walk-through

Usually Clears Fast

Property has always been retail, office, or residential-adjacent use with no industrial history
No open regulatory database hits for the property or immediately adjacent parcels
No visible staining, odors, or distressed vegetation observed on the site walk
Seller can provide prior environmental reports showing a clean history

Likely Needs a Phase II

Former gas station, dry cleaner, or other use associated with common contaminants
Open or unresolved state environmental enforcement action on record
Visible staining, stressed vegetation, or chemical odor noted during inspection
Adjacent property with a documented, unaddressed contamination plume

Why This Matters for Your Financing Timeline

Lenders order a Phase I to protect against inheriting environmental liability tied to the collateral — a clean report is usually a routine, low-drama step, but a flagged REC that escalates to a Phase II can add 4-8 weeks and thousands of dollars right when a buyer is trying to close. Ordering the Phase I early, in parallel with other due diligence instead of after, is the single easiest way to protect a closing timeline.

Have a Deal Under Contract?

Send us the property and prior use history. We'll tell you what environmental due diligence to expect and how it fits your closing timeline.

Submit Your Loan Request →
Indoor Pickleball Facility Financing

Indoor Pickleball Facility Loans:
Financing Texas's Fastest-Growing Sport Real Estate

Pickleball is the fastest-growing sport in the country, and Texas operators are racing to convert warehouses, former retail boxes, and vacant big-box space into dedicated indoor pickleball facilities. Most lenders haven't caught up to the asset class yet — we underwrite against real membership, court utilization, and league revenue, not a generic "new concept" decline.

60-70%
Max LTV
8-12.5%
Rate Range
15-20 yr
Amortization
3-5 wks
Typical Close

Indoor pickleball facilities are typically conversions of existing large-footprint buildings — vacant big-box retail, warehouse space, or former racquet/tennis clubs — into multi-court venues with membership, league play, and open-play revenue models. Because the category is so new, most conventional lenders default to treating it as an unproven concept regardless of how strong the specific facility's actual membership and utilization numbers are, especially once it has an operating track record.

What We Finance

Big-Box Conversions

Financing to convert vacant retail or warehouse space into multi-court pickleball facilities

Racquet Club Repositioning

Converting existing tennis/racquetball clubs to add or replace courts with pickleball

Membership Facility Acquisition

Purchase or refinance of an established, operating pickleball facility

Multi-Location Operators

Portfolio financing for operators expanding to additional Texas metros

Strong Underwriting Profile

12+ months of membership, league, and court-rental revenue history
Strong court utilization rates during peak hours with demonstrated demand
Location in a growing suburban trade area with limited direct pickleball competition
Experienced operator or management group with a track record in racquet-sport facilities

Harder to Finance

Pre-opening conversions with no membership or utilization history yet
Overbuilt submarkets with multiple competing facilities opening simultaneously
Heavy reliance on open-play walk-in revenue with no membership base
Building conversion costs exceeding realistic stabilized value

Conversion, Acquisition, or Expansion Capital

Whether you're converting a vacant big-box building into a new facility, acquiring an established operator's location, or expanding to a second or third Texas market, we structure financing around the real membership and utilization numbers — not a blanket new-concept discount that ignores how fast this category is actually growing.

Financing a Texas Indoor Pickleball Facility?

Send us the property, membership, and utilization data. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Pickleball Facility Loan Request →
Preferred Equity & JV Equity

Preferred Equity & JV Equity Financing:
Capital Above the Debt Stack, Without a Full Partner Search

Some deals need more than a mezzanine loan can offer — a sponsor who's out of hard collateral, a deal where combined debt already caps out, or an acquisition that needs true risk-sharing capital rather than another layer of debt service. Preferred and JV equity fill that role: capital that sits above the mortgage and mezz in priority of repayment, structured as equity rather than a loan.

85-92%
Combined Max Capitalization
10-18%
Preferred Return Range
3-7 yr
Typical Hold
No Fixed Debt Service
Paid From Cash Flow/Sale

Preferred equity gets paid before common equity (the sponsor's own promote) but after debt — it carries a fixed or accruing preferred return rather than an interest rate, and it's structured as an ownership interest in the deal entity, not a lien on the real estate. JV equity goes a step further: a true capital partner sharing in the deal's upside, not just collecting a preferred return. Both let a sponsor close a deal that senior debt and mezz alone can't fully capitalize, without diluting control any further than the structure requires.

When This Fits Better Than More Debt

Common Uses

A value-add acquisition where combined senior + mezz debt already hits its practical ceiling
A sponsor with a strong track record but limited liquid capital for the required equity check
Recapitalizing a stabilized asset to return capital to existing investors without a sale
A development deal needing risk capital that a lender's underwriting won't treat as debt

What We Look At

Sponsor track record and alignment — preferred/JV equity is a bet on the operator, not just the asset
A clear, credible path to a liquidity event that returns the preferred capital on schedule
How control, decision rights, and waterfall priority are structured in the operating agreement
Whether the total capital stack still leaves a real, meaningful equity stake for the sponsor

Structured to Fit the Deal, Not a Template

Preferred equity and JV equity deals vary more than debt does — the preferred return, the waterfall, and control provisions are all negotiated to the specific deal and sponsor. We work through that structure with you directly rather than handing over a boilerplate term sheet, and we coordinate with your senior and mezz lenders (if any) to confirm everything works together before you're committed.

Need Capital Above Your Debt Stack?

Tell us the deal, the sponsor's track record, and what's already in place. We'll tell you what structure actually fits.

Submit Your Equity Financing Request →

We Finance Every Commercial Property Type in Texas

From single-tenant retail to 100-unit apartment complexes — if it generates income, we have a loan for it.

🏢
Office Buildings
Class A, B, and C office. Medical office. Co-working. Single-tenant NNN leased office.
From 7.49% | Up to 75% LTV
🏬
Retail / Strip Centers
Single tenant, multi-tenant, anchored strip centers, inline retail, pad sites.
From 7.25% | Up to 75% LTV
🏭
Industrial / Warehouse
Light industrial, flex space, distribution, cold storage, manufacturing.
From 7.25% | Up to 75% LTV
🏠
Multifamily (5+ Units)
Apartment buildings, garden-style, mid-rise. Up to 100+ units. Value-add welcome.
From 6.99% | Up to 80% LTV
🏨
Hotels & Hospitality
Flag and independent hotels, motels, extended stay, short-term rental portfolios.
From 9.99% | Up to 65% LTV
⛽
Gas Stations & Car Washes
Branded and unbranded fuel stations, automatic and hand-wash car wash facilities.
From 9.99% | Up to 60% LTV
🍕
Restaurants
QSR, sit-down, dark kitchens, food halls. NNN leased restaurant properties preferred.
From 9.49% | Up to 65% LTV
📦
Self-Storage
Climate and non-climate, drive-up, multi-story. Value-add and stabilized both considered.
From 7.49% | Up to 75% LTV
🏥
Medical Office
Dental, primary care, urgent care, specialty practices, medical condos.
From 7.25% | Up to 80% LTV
🌾
Land & Development
Raw land, entitled land, construction loans, lot acquisition, spec builds.
From 10.99% | Up to 65% LTV
🚗
Auto Dealerships
New and used car lots, service centers, auto auction facilities.
From 9.49% | Up to 65% LTV
🏗️
Mixed-Use
Retail/residential combination, live-work, urban infill mixed-use developments.
From 8.49% | Up to 70% LTV
Don't See Your Property Type? Ask Us →

Texas Commercial Loan Rates — August 2026

Direct lender rates updated weekly. No broker markups. All programs close in-house.

Loan TypeRate RangeMax LTVTermMin LoanBest For
Hard Money Bridge9.99%–12.99%70%12–24 mo$100KFix & flip, fast close, distressed
Stated Income CRE7.49%–9.99%75%5/25, 10/25$150KSelf-employed, no tax returns
DSCR / Rental6.99%–8.99%80%30yr fixed$100KBuy & hold investors, cash flow
SBA 504Prime + 1.5%–2.5%90%10–25 yr$500KOwner-occupied, low down payment
Commercial Cash-Out Refi7.25%–10.5%70%5–10 yr$200KPull equity, fund next deal
Construction / Land10.99%–13.99%65%12–18 mo$250KGround-up, lot acquisition
Portfolio / Blanket7.99%–10.49%70%5–30 yr$500K5+ properties, cross-collateral
Foreign National8.99%–12.99%65%5–10 yr$200KNo US credit, overseas investors

Rates shown are starting rates as of August 2026 and subject to change. Final rate depends on LTV, property type, credit profile, and market conditions. Texas properties only.

Get Your Rate Quote — Free, No Obligation
Recording Studio & Music Production Financing

Recording Studio Loans:
Financing Texas Music Production Real Estate

Austin's "Live Music Capital" identity, plus growing production scenes in Houston, Dallas, and San Antonio, means real, sustained demand for professional recording studio real estate. Acoustic treatment, isolation booths, and specialized electrical infrastructure make these buildouts hard for conventional lenders to value — we underwrite against real booking revenue and industry relationships.

55-65%
Max LTV
8-12.5%
Rate Range
15-20 yr
Amortization
4-6 wks
Typical Close

A professional recording studio requires acoustic isolation, soundproofing, and dedicated electrical infrastructure that represents significant sunk investment with limited alternate-use value — exactly the kind of specialized buildout conventional lenders discount heavily or decline outright. But studio real estate in an established music market can carry real, durable value from booking revenue, artist relationships, and increasingly, revenue diversification into podcast production, voiceover work, and content creation that's grown alongside traditional music recording.

What We Finance

Studio Purchase or Refinance

Acquisition or refinance of established recording studio real estate

Buildout & Acoustic Treatment

Capital for isolation booths, control rooms, and specialized acoustic construction

Multi-Room Facility Expansion

Financing to add additional studio rooms or diversify into podcast/content production

Rehearsal & Production Complexes

Financing for combined rehearsal space, studios, and production facilities

Strong Underwriting Profile

12-24 months of booking revenue and utilization history documented
Established client relationships or industry reputation supporting repeat bookings
Diversified revenue across music, podcast, voiceover, or content production
Location in an established music/production market with real industry density

Harder to Finance

Pre-opening buildouts with no booking or revenue history
Heavy reliance on a single artist or label relationship for most revenue
Highly specialized acoustic buildout with little value outside studio use
Declining booking trend with no diversification or growth plan

Purchase, Buildout, or Expansion Capital

Whether you're buying an established studio, building out new acoustic space, or expanding into podcast and content production to diversify revenue, we structure financing around the real booking and revenue numbers — not a generic special-purpose-property discount that ignores Texas's genuinely strong music and production industry.

Financing a Texas Recording Studio or Production Facility?

Send us the facility, booking history, and revenue mix. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Studio Loan Request →
Sale-Leaseback Financing

Sale-Leaseback Financing:
Turn Owned Real Estate Into Working Capital Without Moving

If your business owns the building it operates from, that equity is sitting idle on your balance sheet. A sale-leaseback lets you sell the real estate for cash — often near 100% of appraised value, not a loan-to-value-capped fraction of it — and simultaneously sign a lease to keep operating from the same building without interruption.

Up to 100%
Of Value Converted to Cash
10-20 yrs
Typical Leaseback Term
NNN
Usual Lease Structure

A cash-out refinance still leaves you as the owner, subject to loan-to-value limits, debt service coverage tests, and a lender's opinion of how much of the equity they're comfortable advancing. A sale-leaseback is a different transaction entirely: you sell the fee interest outright, so the buyer is pricing the deal off the lease you sign back, not off a loan-sizing grid. That's why sale-leasebacks typically unlock more capital than a refinance on the same building — the trade-off is you no longer own the real estate, and rent becomes a fixed obligation on your books going forward instead of a mortgage payment building equity.

Where the Cash Comes From, and Where It Goes

The purchase price is driven primarily by the negotiated lease — its length, rent, escalation schedule, and how the lease allocates taxes, insurance, and maintenance (almost always structured triple-net, so the tenant keeps the same expense responsibilities as an owner). A longer lease term with contractual rent bumps generally supports a stronger sale price, because the buyer is underwriting a bond-like income stream. Proceeds are commonly used to fund expansion, pay down higher-cost debt, buy out a partner, or free up capital for the operating business itself rather than leaving it locked in the building.

What This Isn't

A sale-leaseback isn't a way to keep ownership upside — once it closes, appreciation on the real estate belongs to the new owner, not you. It also isn't a tax-free event; the sale can trigger a taxable gain, and the new rent expense replaces mortgage interest deductions on your P&L. We are not tax or accounting advisors, and every sale-leaseback should be run past your CPA before you sign anything — we structure the real estate side of the transaction, not the tax outcome.

Growth-Stage Operator

Needs capital for expansion, equipment, or a second location more than it needs to own its current building

Partner Buyout / Recapitalization

Unlocking trapped real estate equity to buy out a partner or restructure ownership without a sale of the business

Debt Paydown

Retiring higher-cost business debt with proceeds that would otherwise be locked in illiquid real estate

Strong Sale-Leaseback Candidate

Stable, profitable operating business that can comfortably support the new lease payment long-term
Building is well-located and functional for the current use and for a future tenant if you ever vacate
Owner is comfortable trading ownership upside for a larger, immediate cash unlock
Real estate is a larger share of the balance sheet than the operating business actually needs

Needs Closer Underwriting

Thin or inconsistent operating income that would make a long-term lease commitment risky
Highly specialized building with limited value to any tenant other than the current operator
Owner expects to sell or relocate the business within the lease term
Real estate has appreciated sharply and the owner wants to keep that upside rather than sell it away

Considering a Sale-Leaseback?

Tell us about the building, your business, and what you'd do with the capital. We'll walk you through whether a sale-leaseback or a cash-out refinance actually gets you further.

Submit Your Loan Request →
Self-Storage Portfolio & Institutional Financing

Self-Storage Portfolio Loans:
Financing Multi-Facility & REIT-Scale Acquisitions

Buying a single storage facility is a different underwriting problem than rolling up five, ten, or twenty of them across Texas markets. Portfolio deals need cross-collateralized structuring, release provisions for individual facility sales, and a lender who can actually move at the pace an institutional or REIT-track buyer needs — not a community bank committee working one appraisal at a time.

65-75%
Max LTV, Portfolio
7.25-10%
Rate Range
3-20+
Facilities Per Deal
3-5 wks
Typical Close

Institutional and REIT-track buyers rolling up self-storage don't need a lender who's underwriting a single physical building — they need one who understands blanket loan structures, individual facility release pricing so an asset can be sold or refinanced out of the pool without disturbing the rest of the portfolio, and how to underwrite a mix of stabilized, lease-up, and value-add facilities in the same transaction. We finance all three stages inside one portfolio structure.

What We Finance

Multi-Facility Roll-Up

Acquisition financing for a first portfolio purchase of 3+ facilities in one closing

Cross-Collateralized Refi

Consolidate existing individual facility loans into one blanket portfolio structure

REIT / Institutional Take-Out

Bridge-to-permanent financing ahead of an institutional buyer or REIT contribution

Mixed Stabilization Portfolio

One structure spanning stabilized, lease-up, and value-add facilities together

Strong Portfolio Profile

Operator or sponsor with a documented track record managing multiple self-storage assets
Facilities concentrated in growing Texas metros or their fast-growing suburban rings
Clean rent-roll and occupancy history across the portfolio, even if individual assets vary in stabilization
Willingness to structure individual release prices so assets can be sold or refinanced independently
Reasonable leverage against blended portfolio NOI, not just the strongest single facility

Harder to Finance

First-time sponsor attempting a large roll-up with no prior multi-facility management experience
Facilities scattered across declining or shrinking rural markets with no population growth
No individual facility-level financials — only a combined portfolio number with no asset-level detail
Portfolio built around one severely underperforming facility dragging down blended NOI

Why Banks Slow Down at Scale

The bigger a self-storage portfolio gets, the more a conventional bank's underwriting process bogs down — every facility needs its own appraisal, environmental review, and committee sign-off, and blanket-loan release mechanics aren't something most commercial banks price or structure often. We underwrite the portfolio as a single credit story built around blended cash flow and sponsor track record, which is what actually lets a roll-up close on an institutional timeline instead of a bank's.

Rolling Up a Self-Storage Portfolio?

Send us the facility list, rent rolls, and target close date. We'll tell you what the portfolio qualifies for — usually within 48 hours.

Submit Your Portfolio Loan Request →

Indoor Shooting Range & Firearms Training Facility Financing

Commercial real estate loans for indoor and outdoor shooting ranges, firearms training centers, and retail gun shops across Texas.

A Specialized Build-Out, Not a Generic Retail Space

An indoor range is one of the more heavily engineered tenant improvements in commercial real estate. Ballistic-rated backstops and baffling, bullet trap systems, HVAC engineered for lead-particulate air exchange and negative pressure containment, sound attenuation to meet local noise ordinances, and range separation walls rated for the calibers being fired all add real construction cost — and real value — well beyond a standard retail or warehouse build-out. Texas's strong firearms culture and comparatively favorable regulatory environment (no state-level ban on range operations, broad concealed and open carry law supporting a large training-and-practice customer base) make range and training facility real estate a durable, cash-flowing property type here in a way it isn't in every state.

Commercial Loans of Texas understands the business model — membership and lane-rental revenue, retail firearms and ammunition sales, and CHL/LTC and defensive training courses — and underwrites the real estate accordingly instead of treating it as unclassifiable specialty space.

New Facility Acquisition

Purchase financing for an existing range/retail building, including facilities being converted from prior industrial or warehouse use.

Ground-Up Range Construction

Construction-to-permanent financing for a purpose-built range, covering the ballistic and HVAC build-out along with the shell.

Retail Gun Shop + Training Center

Combined retail, classroom, and lane real estate for FFL-licensed dealers offering CHL/LTC and defensive training courses.

Outdoor Range & Land

Acreage and improvement financing for outdoor ranges, including berms, shooting bays, and clubhouse/office structures.

What Lenders Actually Look At

  • Ballistic engineering documentation — backstop, baffle, and trap specs from a qualified range design firm carry real weight in underwriting
  • Environmental and air-quality compliance — HVAC/lead-abatement system meeting OSHA and local air-quality standards
  • Zoning and local ordinance history — confirmed permitted use, since range zoning fights are the most common source of delay
  • Membership base and lane utilization — recurring membership revenue is treated similarly to recurring rent in underwriting
  • FFL and any SOT licensing status — relevant to retail and training-program revenue streams

Building or Buying a Range Facility?

Get a same-day term sheet for your range, training center, or retail firearms real estate.

Get Your Free Quote
Skilled Nursing & Memory Care Financing

Skilled Nursing & Memory Care Facility Loans:
Financing Texas Healthcare Real Estate

Skilled nursing and memory care are a different asset class from standard assisted living — higher acuity care, heavier state and Medicare/Medicaid licensing requirements, and specialized staffing ratios that most commercial lenders don't have the underwriting depth to evaluate. We finance these facilities against real census, payor mix, and survey history, not a generic senior-housing template.

55-65%
Max LTV
8-13%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

Texas's senior population is one of the fastest-growing in the country, and skilled nursing/memory care demand is growing with it — but financing hasn't kept pace, because most conventional lenders won't underwrite licensed healthcare real estate at all. Skilled nursing facilities carry Medicare/Medicaid certification, state survey compliance, and clinical staffing requirements that a standard commercial real estate underwriter isn't equipped to evaluate, so qualified operators with strong census and clean survey histories still get declined on asset-class policy alone.

What We Finance

Skilled Nursing Facilities

Purchase or refinance of licensed SNF real estate with Medicare/Medicaid certification

Memory Care Communities

Acquisition or refinance of dedicated memory care facilities and secured Alzheimer's/dementia units

Operator Transitions

Financing for a new operator taking over an existing licensed facility

Renovation & Compliance Capital

Capital for facility upgrades needed to meet current survey/licensing standards

Strong Underwriting Profile

Clean recent state survey history with no unresolved deficiencies or bans on admissions
Stable or growing census with a documented, sustainable payor mix (Medicare/Medicaid/private pay)
Current, valid facility licensing and Medicare/Medicaid certification in good standing
Experienced operator or management company with a track record in licensed senior care
Facility condition meeting current life-safety and ADA compliance standards

Harder to Finance

Recent admissions ban, license suspension, or serious unresolved survey deficiencies
First-time operators with no track record running a licensed facility
Declining census with no clear turnaround plan
Deferred maintenance creating life-safety or compliance risk

Purchase, Operator Transition, or Refinance

Whether you're an experienced operator acquiring an additional facility, a management group taking over an underperforming property, or an existing owner refinancing to fund capital improvements, we structure financing against the facility's real census, payor mix, and compliance standing — not a blanket healthcare-real-estate rejection that ignores how the specific facility is actually run.

Financing a Texas Skilled Nursing or Memory Care Facility?

Send us the license type, census, and payor mix. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Healthcare Facility Loan Request →
Solar Farm & Renewable Energy Land Financing

Solar Farm & Renewable Energy Land Loans:
Financing Texas Solar & Wind Ground Leases

Texas leads the nation in utility-scale solar buildout, and rural landowners entering long-term solar or wind ground leases increasingly need financing against that lease income — for land acquisition, development-stage capital, or cashing out equity once a lease is signed. We underwrite against the real lease terms and land value, an asset class most banks still don't know how to price.

55-65%
Max LTV
8-12.5%
Rate Range
10-20 yr
Amortization
4-6 wks
Typical Close

West and Central Texas ranchland sits at the center of the state's solar and wind buildout, and landowners signing long-term ground leases with developers often want to leverage that new, stable lease income — to buy adjacent acreage, refinance existing debt, or pull cash out for other investment. Conventional agricultural lenders typically don't know how to underwrite a solar/wind ground lease as income, and specialty renewable-energy lenders often only serve the utility-scale developers themselves, not the landowners. We fill that gap.

What We Finance

Ground-Leased Land Refinance

Cash-out or rate/term refinance against land under an active solar or wind lease

Land Acquisition

Purchase financing for acreage with an existing or pending renewable energy lease

Community Solar & Small-Scale Projects

Financing for landowner-developed community solar installations

Development-Stage Bridge

Short-term capital while a lease is finalized or interconnection is pending

Strong Underwriting Profile

Signed, executed ground lease with a creditworthy developer or utility off-taker
Lease term of 15+ years remaining with clear escalation and renewal terms
Clean title with resolved mineral rights, easements, and water rights
Interconnection agreement in place or well-advanced for the project

Harder to Finance

Pre-lease speculative land with no signed agreement or developer commitment
Disputed mineral or water rights complicating the lease or title
Undersized acreage that doesn't meet a utility-scale developer's minimum footprint
Interconnection queue delays with no clear timeline to energization

Leveraging Texas's Renewable Energy Boom

Whether you're a landowner who just signed a solar or wind lease and want to unlock that income now, or an investor acquiring land already under a long-term renewable lease, we structure financing around the real lease economics — not a generic raw-land loan that ignores the durable, contracted income sitting on top of the property.

Financing Texas Land Under a Solar or Wind Lease?

Send us the lease terms, acreage, and developer. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Renewable Land Loan Request →
Self-Directed 401(k) & IRA Financing

Self-Directed Solo 401(k) & IRA Loans:
Commercial Real Estate Inside a Retirement Account

A Self-Directed Solo 401(k) or Self-Directed IRA can hold commercial real estate directly — but most banks won't lend into these structures, and the loan has to be structured as non-recourse to the account holder to stay compliant. We build financing that fits inside the retirement-account wrapper correctly, from day one.

50-65%
Max LTV
8-12%
Rate Range
Non-Recourse
Required Structure
4-6 wks
Typical Close

Borrowing inside a Self-Directed 401(k) or IRA has a hard legal constraint most conventional lenders simply won't touch: the loan cannot carry a personal guarantee from the account holder, or the transaction risks disqualifying the entire retirement account's tax-advantaged status. That non-recourse requirement means the lender is underwriting the property's income and value alone — no personal credit or income backstop — which is exactly the kind of deal most banks decline outright.

What We Finance

Solo 401(k) Acquisitions

Non-recourse purchase financing for commercial property held directly inside a Solo 401(k) trust

Self-Directed IRA Purchases

Non-recourse loans for property titled to a Self-Directed IRA or IRA-owned LLC

UBIT-Aware Structuring

Financing structured with debt-financed income (UDFI/UBIT) exposure in mind — coordinate with your CPA on the tax treatment

Refinance of Existing Holdings

Refinancing property already held inside a retirement account structure

Strong Underwriting Profile

Stabilized, income-producing commercial property with a clean rent roll
Properly established Solo 401(k) trust or Self-Directed IRA/LLC in good standing
Sufficient account funds for the required down payment and reserves
No prohibited-transaction red flags (disqualified persons, self-dealing)

Harder to Finance

Vacant or unstabilized property with no independent income to underwrite
Retirement account custodian unfamiliar with non-recourse lending mechanics
Any structure implying personal guarantee or personal-use of the property
Unclear or incomplete account/trust documentation at application

Structured Correctly From the Start

Whether you're deploying Solo 401(k) or Self-Directed IRA funds into a first commercial acquisition or refinancing a property already held inside one of these structures, we build the loan as genuinely non-recourse to you personally — the way IRS rules require — rather than trying to retrofit a standard commercial loan after the fact. Always coordinate with your CPA or plan administrator on UBIT/UDFI tax treatment before closing.

Financing Commercial Real Estate Inside a Retirement Account?

Tell us about the account structure, property, and purchase details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Retirement Account Loan Request →
Student Housing Financing

Student Housing Loans Near Texas Universities

Texas is home to some of the fastest-growing university enrollments in the country. Purpose-built student housing and off-campus rental portfolios near these campuses produce some of the most durable, recession-resistant multifamily cash flow available — if the deal is underwritten correctly.

College Station
A&M
75K+ Enrollment
Austin
UT
53K+ Enrollment
Denton
UNT / TWU
45K+ Combined
Lubbock
Texas Tech
40K+ Enrollment

Student housing underwrites differently than conventional multifamily, and lenders who don't understand the sector routinely misprice it — either too conservatively (missing good deals) or too aggressively (getting burned by lease-up risk they didn't see coming). We underwrite student housing on its own terms: by-the-bed leasing structure, parental guarantees, academic calendar-driven turnover, and proximity-to-campus premium.

The strongest Texas student housing deals share a common thread — walking distance or a short shuttle ride to campus, individual lease liability per bedroom rather than one joint lease per unit, and a pre-leasing track record that shows the property fills up well before the fall semester starts. Properties with all of these characteristics can command occupancy and rent premiums that rival or exceed standard workforce multifamily in the same submarket.

Financing Structures We Offer

For stabilized, cash-flowing student housing with two-plus years of consistent pre-leasing history, we underwrite standard DSCR-style permanent financing at competitive multifamily terms. For acquisitions of underperforming or dated student housing with a renovation and repositioning plan — think unit interior upgrades, amenity additions, or converting from joint leases to by-the-bed leases — we structure bridge financing sized to the business plan, with a clear refinance exit once the property re-stabilizes at higher rents.

What Makes a Student Housing Deal Fundable

Strong Underwriting Profile

Within 1 mile or on a direct shuttle route to a major Texas university
By-the-bed leasing with individual liability, ideally with parental guarantees
Documented pre-leasing velocity — 80%+ leased by move-in for prior 2+ cycles
University enrollment growing or stable, not declining
On-site or nearby amenities matching current student expectations

Harder to Finance

More than a 20-25 minute walk/drive from campus with no reliable transit
University with declining or flat enrollment over multiple years
Joint-lease structure with no individual bedroom liability
No pre-leasing data or history of slow fall fill-up
Deferred maintenance requiring significant capital before it's leasable at target rents

Whether you're acquiring a stabilized off-campus community, repositioning a dated property near a Texas campus, or building new purpose-built student housing, send us your rent roll, pre-leasing data, and proximity to campus. We'll tell you exactly what it qualifies for.

Have a Student Housing Deal in Texas?

Acquisition, refinance, or value-add reposition — we underwrite student housing on its own terms.

Submit Your Deal →
Ambulatory Surgery Center Financing

Ambulatory Surgery Center (ASC) Loans:
Financing Texas Outpatient Surgical Real Estate

Ambulatory surgery centers carry a fundamentally different real estate profile than a standard medical office — specialized surgical suites, sterile processing, backup power and medical gas systems, and heavier licensing requirements. We finance ASC real estate against real physician-owner utilization and payor mix, underwriting built for this specific healthcare asset class.

60-70%
Max LTV
7.5-11%
Rate Range
15-25 yr
Amortization
4-6 wks
Typical Close

ASCs perform outpatient surgical procedures — orthopedic, ophthalmologic, GI, pain management, and more — in a lower-cost setting than a hospital, and Texas's ASC sector has grown steadily as more procedures shift outpatient. But the real estate requires specialized buildout (operating suites, sterile processing, medical gas, backup power) and carries state licensing plus often Medicare certification requirements that most conventional commercial lenders don't have the healthcare-specific underwriting depth to evaluate properly.

What We Finance

Physician-Owned ASC Purchase

Purchase or refinance of real estate for physician-owned surgery centers

Buildout & Equipment Infrastructure

Capital for operating suite construction, sterile processing, and medical gas systems

Multi-Specialty Expansion

Financing to add operating rooms or expand into additional surgical specialties

Refinance & Recapitalization

Cash-out or rate/term refinance for stabilized, operating ASCs

Strong Underwriting Profile

Current state licensing and (where applicable) Medicare certification in good standing
12-24 months of case volume and payor mix history documented
Physician-owner group with a stable, committed utilization commitment
Facility meeting current life-safety, medical gas, and infection-control compliance standards

Harder to Finance

Pre-opening centers with no case volume or licensing yet finalized
Licensing lapses or unresolved regulatory compliance issues
Physician-owner group instability or uncertain long-term utilization commitment
Heavy dependence on a single surgical specialty with no diversification

Purchase, Buildout, or Refinance

Whether you're a physician group acquiring or building a new surgery center, expanding an existing facility's operating room count, or refinancing to recapitalize the practice, we structure financing against the real case volume and payor economics — not a generic medical-office rate that misses what actually drives ASC value.

Financing a Texas Ambulatory Surgery Center?

Send us the facility, licensing status, and case volume history. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your ASC Loan Request →
Timberland & Timber Tract Financing

Timberland Financing:
Underwriting Land That Pays on a 15-40 Year Clock

East Texas carries one of the densest commercial pine and hardwood timber bases in the South, and timberland trades hands as its own asset class — priced on a mix of bare land value, standing merchantable timber volume, and the age/species mix of what's still growing. We underwrite timber tracts as real income-producing collateral, not as generic rural acreage.

Bare Land + Timber
Two-Part Appraisal Basis
Cruise Report
Third-Party Timber Volume Verification
50-65%
Typical Max LTV on Combined Value
Ag/Timber Exemption
Property Tax Valuation Usually Applies

Unlike a standard commercial parcel, timberland's real collateral value moves on its own clock — a tract with a mature, harvest-ready stand carries very different underwriting than one recently clear-cut and replanted, even at identical acreage. We look at species mix (pine plantation vs. natural hardwood), stand age class, site index, and access to logging roads and mill markets before sizing a loan.

What We Finance

Pine Plantation Tracts

Managed loblolly/slash pine acreage at various rotation ages

Mixed Hardwood Bottomland

Natural stands along river/creek bottoms with mixed species value

Cutover & Replant Acreage

Recently harvested land being carried through the reforestation cycle

Recreational/Hunting Timberland

Tracts combining timber value with lease income from hunting rights

Strengthens the Deal

Recent professional timber cruise with documented merchantable volume
Established mill or pulpwood buyer relationships nearby (short haul distance)
Clear, recorded mineral/surface rights with no ownership disputes
Existing ag/timber valuation exemption already on file with the county

Slows the Deal

No recent cruise — relying only on age/acreage estimates, not verified volume
Long haul distance to the nearest mill, cutting into stumpage value
Unresolved easement, right-of-way, or adjoining-boundary disputes
Recently clear-cut with no replant plan, reducing near-term collateral value

How Timberland Underwriting Differs From Raw Land

A raw land loan prices dirt. A timberland loan prices dirt plus a growing, appreciating (or depreciating, post-harvest) crop sitting on it — so we lean on a professional timber cruise rather than a standard appraisal alone, and we structure amortization and any partial-release provisions around realistic harvest timing rather than a flat schedule that ignores when the timber is actually merchantable.

Financing a Timber Tract?

Tell us about the acreage, species mix, and stand age. We'll structure financing around the real timberland picture, not a generic land appraisal.

Submit Your Loan Request →

Trucking Terminal & Fleet Maintenance Yard Financing

Commercial real estate loans for trucking company terminals, freight cross-dock facilities, and fleet maintenance yards — not to be confused with roadside travel-plaza truck stops.

Owner-Operator Real Estate for a Trucking or Logistics Company

A trucking or freight company's own terminal is a different property from the fuel-and-food travel plazas along the interstate. It's the base of operations: a paved trailer and tractor storage yard, a maintenance shop with in-ground or above-ground lifts and diesel-rated bay doors, a fuel island for the company's own fleet, driver facilities, and often a small dispatch/office building. Texas's position as a national freight hub — I-35, I-45, and I-10 corridors, the Laredo and El Paso border crossings, and the DFW/Houston distribution markets — makes this a durable, high-demand property type for carriers, freight brokers, and logistics companies headquartered or operating out of the state.

Commercial Loans of Texas finances the real estate a carrier actually needs to operate — yard capacity, maintenance infrastructure, and dispatch/office space — evaluated against the company's freight volume and route structure, not generic industrial comps that miss what drives the property's value to a trucking operation.

Carrier Terminal Acquisition

Purchase or refinance of an existing terminal yard for an owner-operator fleet or regional carrier.

Fleet Maintenance Shop Build-Out

Construction or renovation financing for diesel-rated service bays, lifts, and parts storage for in-house fleet maintenance.

Cross-Dock & Freight Terminal

Financing for LTL and freight-brokerage cross-dock facilities with multiple dock doors and trailer staging yards.

Trailer & Container Storage Yards

Land and paving financing for secured trailer, chassis, and intermodal container storage near port and rail hubs.

What Lenders Actually Look At

  • Yard paving and trailer capacity — surface load rating and the number of tractor/trailer spaces the site actually supports
  • Highway access — proximity to interstate on-ramps and truck routes, since terminal value drops fast on poor access
  • DOT and environmental compliance — fuel island permitting, stormwater runoff controls, and used-oil/waste handling for maintenance shops
  • Carrier operating authority and freight volume — MC number standing and load volume support the underwriting case alongside the real estate
  • Zoning for truck parking and industrial use — a frequent point of friction in growing suburban corridors

Financing a Trucking Terminal or Fleet Yard?

Get a same-day term sheet for your terminal, maintenance shop, or trailer storage yard.

Get Your Free Quote
Urgent Care & Walk-In Clinic Financing

Urgent Care Center Loans:
Financing Texas Walk-In Medical Real Estate

Urgent care is one of the fastest-growing commercial property types in Texas — freestanding clinics, strip-center conversions, and multi-location groups all need real estate financing that a bank's slow, document-heavy medical underwriting often can't deliver on the timeline an operator actually needs. We finance the property itself, purchase or refinance, without requiring years of practice financials a bank credit committee typically demands.

65-75%
Max LTV, Purchase
7.5-11%
Rate Range
20-25 yr
Amortization
2-4 wks
Typical Close

Urgent care groups grow fast — a successful single-location clinic often turns into a 3-, 5-, or 10-site group within a few years, and real estate strategy rarely keeps pace with that growth. Some operators lease every location and want to start owning; others are converting an old retail box or bank branch into a build-to-suit clinic and need construction-to-permanent financing; still others are refinancing a maturing note on a location that's now stabilized and cash-flowing well above what it was underwritten at originally. We work all three scenarios.

What We Finance

Single-Site Purchase

Buy the real estate under an existing or new urgent care location instead of leasing

Retail-to-Clinic Conversion

Build-out financing for converting retail, bank, or restaurant space into a licensed clinic

Multi-Site Portfolio Refi

Consolidate financing across several clinic locations into a single, better-priced structure

Ground-Up Freestanding Clinic

Construction and permanent financing for a purpose-built urgent care facility

Strong Underwriting Profile

Operating clinic (or de novo with an established multi-site operator behind it) with defined patient volume trends
Location in a visible, high-traffic retail corridor with parking and easy access
Payer mix documented — commercial insurance, Medicare, self-pay breakdown
Lease-to-own or existing ownership structure that's clean and free of disputes
Licensing (state clinic license, DEA if applicable) current and in good standing

Harder to Finance

Brand-new solo operator with no prior clinic ownership or management track record
Location in a declining retail center with high vacancy nearby
Heavy reliance on a single payer or employer contract with no diversification
Pending licensing action or malpractice/regulatory issues on the operating entity
Build-out scope significantly exceeds comparable clinic construction costs with no clear justification

Why Banks Move Slowly on Medical Retail

Conventional banks tend to underwrite urgent care the same way they underwrite any medical office — slowly, with extensive documentation requests and committee review that can stretch a purchase timeline past a seller's patience or a lease-expiration deadline. We understand the actual business model: patient volume, payer mix, and location visibility drive urgent care economics more than years-in-business alone, which lets us move a purchase or refinance from application to close in weeks, not months.

Buying, Building, or Refinancing an Urgent Care Location?

Send us the location, square footage, and current lease or purchase details. We'll tell you what it qualifies for — usually within 48 hours.

Submit Your Urgent Care Loan Request →
USDA Rural Business Real Estate

USDA Rural Development Financing:
Real Estate Loans for Businesses Outside Texas Metro Areas

Businesses located in eligible rural Texas communities can access government-guaranteed real estate financing most banks don't originate at all — longer amortizations, higher leverage, and rate protection that's hard to find on a conventional commercial note. We package and place USDA Business & Industry (B&I) guaranteed real estate loans alongside our conventional and bridge programs.

Up to 80%
Max LTV, USDA-Guaranteed
15-30 yr
Amortization
Rural Areas
Population Under ~50,000
4-8 wks
Typical Approval Timeline

USDA's Business & Industry (B&I) Guaranteed Loan Program backs real estate financing for eligible businesses operating in rural areas — most of Texas outside the major metro cores qualifies, including a large share of the small towns and county seats across the state. The federal guarantee lets lenders offer terms conventional commercial real estate financing can't match: longer amortization schedules that lower monthly debt service, and higher leverage than a typical bank would extend on its own book.

What Qualifies

Strong Candidates

For-profit business operating in an eligible rural area (check specific address eligibility — it varies by population and proximity to metro boundaries)
Real estate purchase, construction, or renovation directly tied to business operations — not passive real estate investment
Business creates or saves jobs in the community — a factor in USDA's underwriting priorities
Solid business financials and a viable operating plan, even if the real estate itself is the primary collateral

Good to Know

Eligibility is address-specific — a location just inside a metro boundary can disqualify an otherwise strong deal
Timeline is longer than a straight conventional loan due to the federal guarantee approval step
Guarantee fees apply on top of standard closing costs — factored into the overall deal economics upfront
Not for passive real estate holding — the property must support active business operations

We Check Eligibility Before You Commit to the Program

The single biggest time-waster in USDA B&I financing is discovering address ineligibility after underwriting is already underway. We verify your specific property location against current USDA rural area maps before recommending this path — if it doesn't qualify, we'll tell you immediately and point you toward the conventional or bridge structure that fits instead.

Operating a Business in a Rural Texas Community?

Send us your property address and business details. We'll confirm USDA eligibility and what it qualifies for.

Check Your USDA Eligibility →
Veterinary Clinic Financing

Veterinary Clinic & Animal Hospital Loans:
Financing One of the Most Bankable Small-Business Real Estate Categories

U.S. pet spending has grown almost every year for two decades, and veterinary practices post some of the highest owner margins and lowest default rates of any small-business real estate category. We finance the clinic building and, where needed, the practice acquisition alongside it.

75-85%
Max LTV
7.0-9.5%
Rate Range
20-25 yr
Amortization
1.15x+
Min DSCR

Veterinary real estate is a specialty niche precisely because the buildings themselves aren't generic — a functioning animal hospital needs surgical suites, imaging rooms, kennel and recovery space, and specific plumbing and ventilation that a standard medical office build-out doesn't have. That specialization makes conventional bank lenders nervous about resale value if a loan ever needed to be foreclosed, even though veterinary practices default at some of the lowest rates in commercial lending. We underwrite the real estate on its own merits — location, buildout quality, and alternate-use flexibility — rather than assuming a niche property can't be financed conventionally.

Most of our veterinary deals fall into three buckets: an established DVM buying the building their practice already operates out of (converting from a lease to ownership), a veterinarian acquiring an existing practice and its real estate together, or an owner-operator adding a second location. Each has a different risk profile, and we structure financing accordingly rather than forcing every deal through the same box.

What We Look At on a Veterinary Deal

Practice revenue and EBITDA if the purchase includes the business, trailing client volume and average transaction value, whether the building has purpose-built surgical and imaging infrastructure already in place (a major cost avoidance versus building it out), local competition density, and — for practice acquisitions — whether the selling veterinarian is staying on for a transition period, which materially reduces client-retention risk.

Strong Underwriting Profile

Purpose-built clinic with surgical suite, imaging, and kennel space already in place
3+ years of stable or growing practice revenue if acquiring the business
Selling DVM staying on for a 6-12 month transition period
Located in a growing suburban market with limited direct competition
Buyer has DVM licensure and prior practice management experience

Harder to Finance

Generic retail or office shell requiring a full clinical build-out from scratch
First-time practice owner with no prior management or ownership experience
Declining client volume or a single-doctor practice with no succession plan
Heavy competition from a nearby corporate veterinary chain (Banfield, VCA, etc.)

Practice-Plus-Real-Estate Structuring

When a deal combines the real estate purchase with a practice acquisition, we structure it as a single closing with the real estate loan sized against the property and a separate practice-acquisition component sized against cash flow and goodwill — giving buyers one process instead of coordinating two lenders on two timelines.

Buying, Building, or Refinancing a Veterinary Practice?

Send us the property details and practice financials if applicable. We'll tell you what it qualifies for, usually within 48 hours.

Submit Your Veterinary Deal →
Texas Water Rights & Ag Water Infrastructure

Water Rights Financing:
Underwriting a Ranch or Farm's Most Valuable Hidden Asset

Texas water law splits ownership between surface water (state-permitted, allocated by the TCEQ) and groundwater (governed by the rule of capture and local Groundwater Conservation Districts) — and for agricultural, ranch, and irrigated cropland, those water rights and the infrastructure that delivers them can carry as much real value as the land itself. We underwrite that value directly rather than treating it as an afterthought.

Surface vs. Groundwater
Two Distinct TX Legal Regimes
GCD Permits
Groundwater Conservation District Pumping Limits
Severable Asset
Water Rights Can Be Owned Apart From Surface Land
Irrigation Infrastructure
Wells, Pivots & Canal Rights Valued Separately

A dryland tract and an identical tract with a permitted irrigation well and senior surface water rights can carry very different collateral value — sometimes the difference between marginal grazing land and highly productive irrigated cropland. We review the specific permit type, priority date (for surface rights, "first in time, first in right" genuinely matters), and GCD pumping allowances before we size a loan against agricultural or ranch acreage.

What We Finance

Irrigated Cropland

Farmland with permitted wells, pivots, or canal/district water delivery

Ranch & Livestock Water Infrastructure

Wells, stock tanks, and pipeline systems supporting grazing operations

Severed Water Right Acquisitions

Purchasing water rights apart from, or alongside, the underlying surface estate

Irrigation Equipment & Well Development

Financing new wells, pivots, or delivery infrastructure on existing acreage

Strengthens the Deal

Recorded, verifiable water right with a clear priority date and GCD permit on file
Documented pumping/usage history supporting the permitted allocation is actually being used
Working irrigation infrastructure (wells, pivots, pipeline) in good, inspected condition
No pending GCD rule changes or contested-permit litigation affecting the tract

Slows the Deal

Unclear or undocumented historical water use, risking permit reduction or forfeiture
Water rights severed from the land with no confirmed access easement to reach them
Aging or non-functional wells/pivots with no capital plan to repair or replace
Tract sitting in a GCD actively tightening pumping limits or under drought-order restriction

Why This Isn't Standard Raw Land Underwriting

Texas groundwater law (the rule of capture, tempered by GCD permitting) and surface water law (state permits administered by TCEQ) are genuinely different legal regimes, and a lender who treats every rural acre the same will misprice both the upside of a well-permitted irrigated tract and the risk of one with contested or undocumented rights. We underwrite the water asset on its own terms, alongside the land.

Financing Land With Real Water Value?

Tell us about the acreage, permits, and infrastructure. We'll structure financing around the water rights as the real asset they are.

Submit Your Loan Request →
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Investor Tax Strategy

Cost Segregation: Turning Your New Acquisition Into Faster Depreciation

Standard commercial real estate depreciates over 39 years, straight-line. A cost segregation study can reclassify a meaningful chunk of that basis into 5, 7, and 15-year property — accelerating the deductions into the years you actually need them.

When a commercial property closes, the IRS default is to depreciate the entire building over 39 years on a straight line — one number, divided evenly, no matter what's actually inside the walls. A cost segregation study is an engineering-based analysis that breaks the purchase price apart into its real components: structural building shell (39-year), but also land improvements like paving, landscaping, and site lighting (15-year), and personal property like specialized electrical, certain flooring, millwork, and equipment-dedicated wiring (5 or 7-year). Reclassifying even 20-30% of a purchase price into those shorter recovery periods can move a substantial depreciation deduction from year 20 of ownership into year one.

Why This Matters Right After Closing

The tax benefit is largest in the same year the property is placed in service — which is exactly when many investors are financing a new acquisition, funding a renovation, or absorbing a large debt service number for the first time. A cost segregation study run shortly after closing (or after a major renovation/build-out) front-loads real, deductible losses against other income in the years the investor is most likely to want them, rather than spreading a flat deduction evenly across four decades.

What Typically Qualifies for Faster Reclassification

Site Work

Paving, landscaping, exterior lighting

Specialty Electrical

Equipment-dedicated circuits and wiring

Interior Finish

Certain flooring, millwork, decorative fixtures

FF&E

Furniture, fixtures, and equipment tied to the property

This is general information, not tax advice — a licensed cost segregation firm and your CPA determine what actually qualifies for your specific property and structure the study to hold up under IRS scrutiny.

How This Connects to Financing

Cost segregation doesn't change your loan terms directly, but it changes the cash-flow picture behind the deal — accelerated depreciation can meaningfully offset taxable income in the early hold years, which is often exactly when debt service is highest relative to a property still stabilizing. We regularly work with investors coordinating an acquisition or refinance around a planned cost segregation study; if that's part of your plan, tell us up front so we can structure the closing timeline to support it.

Financing an acquisition and planning a cost seg study?

Tell us your timeline — we'll structure the closing to work alongside it.

Get Started
Underwriting Metrics

Debt Yield: The Metric Your Lender Cares About More Than You Think

DSCR and LTV get all the attention, but many commercial lenders size a loan around debt yield first — and it's the one metric that ignores interest rate entirely.

Debt yield is a simple ratio: net operating income divided by the loan amount. Unlike debt service coverage ratio, it doesn't care what your interest rate or amortization schedule looks like — it strips financing terms out entirely and asks one blunt question: if this lender had to foreclose and hold the property as a straight cash return, what yield would the loan amount actually produce? A $2,000,000 loan against a property generating $180,000 in NOI has a 9% debt yield, full stop, regardless of whether the note carries a 6% or 9% rate.

Debt Yield = Net Operating Income ÷ Loan Amount

That's exactly why lenders lean on it as a floor. DSCR can look healthy purely because rates are low or amortization is stretched to 30 years — debt yield can't be gamed the same way, since it never touches the rate or the amortization schedule at all. Most conventional and CMBS-style commercial lenders want to see a debt yield in the 8-10%+ range before they'll size a loan to full leverage; anything meaningfully below that and the loan amount typically gets trimmed until the ratio clears the floor, no matter how strong DSCR or LTV look on paper.

Why This Matters More in a Higher-Rate Environment

When rates rise, DSCR compresses on its own — the same NOI now has to cover a bigger debt service number. Debt yield doesn't move with rate at all, which means in a rising-rate market it increasingly becomes the binding constraint on how much a property can actually borrow, even when DSCR still technically pencils. Borrowers who only model DSCR sometimes get surprised at term sheet stage when the loan amount gets sized down to satisfy a debt yield floor they never checked.

Debt Yield vs. the Other Two Ratios

LTV

Measures loan against property value — moves with appraisal/cap rate assumptions

DSCR

Measures NOI against actual debt service — moves with rate and amortization

Debt Yield

Measures NOI against loan amount only — ignores rate and amortization entirely

We size every commercial loan against all three ratios up front, not just the one that happens to look best — so the number on your term sheet is the number that actually closes, not one that gets re-traded once a debt yield floor shows up in underwriting.

Want a real number, not just a ratio lesson?

Send us the property's NOI and target loan amount — we'll tell you exactly where debt yield lands and what that means for your sizing.

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Buildout & TI Financing

Restaurant Build-Out & Tenant Improvement Financing

Kitchen equipment, hoods, grease traps, dining room finish-out, ADA compliance — restaurant and retail build-outs run expensive before a single dollar of revenue comes in. We finance the interior work, not just the real estate.

A restaurant lease with a strong location doesn't guarantee a strong loan file — landlords increasingly hand over vanilla shell space and expect the tenant to fund every square foot of the kitchen, dining room, and back-of-house build-out themselves. Between commercial kitchen equipment, Type I hood systems, grease interceptors, walk-in coolers, ADA-compliant restrooms, and dining room finish, a full build-out on a mid-size restaurant space commonly runs $150-$400+ per square foot before a single customer walks in. Conventional bank financing is a poor fit here — banks want stabilized income history, and a pre-opening restaurant has none.

We underwrite tenant improvement and build-out financing around the total project cost and the operator's experience, not just trailing financials. That includes ground-up restaurant conversions, second-generation restaurant spaces (taking over an existing kitchen shell), and retail-to-restaurant conversions that need mechanical, electrical, and plumbing work far beyond cosmetic finish.

What This Financing Typically Covers

Kitchen Equipment

Hoods, walk-ins, line equipment, POS systems

MEP & Code Work

Grease traps, HVAC, electrical service upgrades, ADA

Interior Finish

Dining room, flooring, millwork, signage

Second-Gen Conversion

Repurposing an existing restaurant shell

Why Direct Lending Fits Build-Out Timelines

Landlords typically negotiate a fixed build-out period before rent commences — often 60-120 days. A bank construction-draw process built for ground-up commercial real estate rarely moves fast enough to hit that window without eating into your free-rent period. We structure draws around your actual build-out schedule (permit, rough-in, equipment install, finish) so funding keeps pace with the contractor, not the other way around.

Building out a restaurant or retail space?

Tell us the project scope and timeline — we'll structure draws around your actual build-out schedule.

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📞 Free Quote — 877-TX-LENDING (877-895-3634)