Based on soft-quote and term-sheet loan quotes on retail properties (single-tenant net lease and unanchored centers) in Florida, priced as permanent financing with loan amounts between $1,000,000 and $10,000,000, from April through June 2026.
Fixed-rate quotes in this pool run from 5.35% to 7.35%, with a median of 6.24%. Floating-rate quotes, presented separately, range from 5.75% to 7.93%, with a median of 7.34%. LTV runs at a median of 60%, and DSCR requirements run from 1.15x to 1.35x. Of the quotes where recourse type was specified, most carry full recourse, with smaller shares carrying a burn-off or partial recourse structure; the large majority carry personal recourse guarantees rather than non-recourse structures.
Geographically, this pool is concentrated in Miami, with smaller clusters in Riverview, Indian Harbour Beach, Hialeah, Rockledge, Oakland Park, Maitland, and Tampa.
Amortization schedules most commonly run 25 years, with a smaller share using 30 years. An interest-only period is present on a smaller share of these quotes, ranging from 6 months to 5 years. Loan sizes in this pool range from $1,000,000 to $6,500,000, with a median loan amount of $4,160,965.
| Metric | Range | Median |
|---|---|---|
| Fixed rate | 5.35% – 7.35% | 6.24% |
| Floating rate | 5.75% – 7.93% | 7.34% |
| LTV | — | 60% |
| DSCR | 1.15x – 1.35x | 1.25x |
| Recourse (of specified) | Majority full, smaller shares burn-off / partial | — |
Fixed rate by loan size
| Loan Size | Range | Median |
|---|---|---|
| $1M – $5M | 5.35% – 7.35% | 6.15% |
| $5M – $10M | 6.15% – 7.25% | 6.65% |
Fixed-rate quotes in this pool span a wider range than most other pools tracked here, from 5.35% up to 7.35%, reflecting a mix of bank and non-bank lenders competing on the same asset type.
Net-Lease Retail (STNL) quotes in this pool carry a fixed-rate median of 6.50%, within the pool's overall 5.35%–7.35% range.
Larger loans in this pool ($5M+) are pricing modestly above the $1M–$5M band here, though the $5M+ group is limited to a small number of quotes.
FAQ
What fixed rates is Lev seeing on Florida retail permanent loans right now?
Lev is seeing a median of 6.24%, with a range of 5.35% to 7.35%.
What about floating-rate quotes?
Lev is seeing floating-rate quotes range from 5.75% to 7.93%, with a median of 7.34%.
What LTV and DSCR is Lev seeing required?
Lev is seeing a median LTV of 60%, with DSCR ranging from 1.15x to 1.35x across this pool.
How does Miami pricing compare to the rest of the pool Lev is seeing?
Miami accounts for the largest share of quotes Lev is seeing in this pool.
Does asset-type cohort affect pricing in this pool?
Net-Lease Retail (STNL) quotes in this pool ran a median fixed rate of 6.50%, within the pool's broader 5.35%–7.35% range.
