Commercial Financing

Commercial debt structured against the deal, not the product menu.

Marathon advises on and places debt for acquisitions, refinances, bridge executions, construction projects, and transitional business plans across income-producing commercial real estate — framed around the sponsor, the collateral, and the business plan.

Transaction Types

Capital structured against the business plan.

Each request begins with the actual deal — sponsorship, collateral, timeline, and intended exit — and is structured to fit the execution rather than forced into a generic financing template.

Acquisition financing

Capital stacks structured around sponsor equity, business plan, and target basis.

Rate outlook

7% – 10%+ stabilized · quote-based structured

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Refinance

Rate-term and cash-out refinance on stabilized assets.

Rate outlook

6.75% – 8.50%+ DSCR cash-out · 7% – 10%+ commercial

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Bridge loans

Short-duration executions for transitional assets and business plans.

Rate outlook

Starting at 8.5% · 12-mo interest-only

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Construction financing

Ground-up and vertical construction capital for qualified sponsors.

Rate outlook

Starting at 8.5% · up to 90% LTC · 12 – 24-mo interest-only

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Value-add / transitional

Debt structured through the lease-up and stabilization window.

Rate outlook

Starting at 8.5% bridge · 100% rehab financing

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CMBS / conduit

Non-recourse fixed-rate executions on stabilized institutional-quality assets, sized $2M+.

Rate outlook

6.50% – 8.00% · 5 / 7 / 10-yr · 30-yr amort

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Recapitalization

Structured executions to reposition existing debt and equity.

Rate outlook

Scenario-priced · quote-based

Asset Focus

Income-producing and transitional assets, coast to coast.

Executions across every major commercial asset class, sized from $50K to $50M. Deal-specific structuring, not a fixed lending menu.

Multifamily

Mixed-use

Office

Retail

Industrial

Hospitality

Land

Self-storage

Construction of a mid-rise mixed-use asset

Ground-up & Construction

Construction capital that respects the schedule.

Marathon structures construction executions for qualified sponsors with a clear plan, defined draw mechanics, and a pathway to permanent takeout — placed with the right construction lending channel and managed directly through funding.

Rate ranges are indicative market guidance as of July 2026 and are not a commitment to lend. Final pricing depends on asset type, leverage, DSCR, sponsor experience, occupancy, and lender guidelines.

Commercial Case Studies

Representative commercial executions.

All case studies

Commercial·Central Texas

32-unit multifamily acquisition in a value-add Texas submarket.

Asset: Multifamily · 32 units
Loan amount: $4.2M
Structure: Acquisition · 5-yr fixed
Rate: 6.75%
LTV / LTC: 75%

Challenge

Sponsor was under contract with a tight 30-day close and a lender that pulled terms mid-diligence.

Solution

Repriced and re-placed the debt with a balance-sheet lender that could underwrite the in-place cash flow and lease-up thesis on the vacant units.

Outcome

Closed on the original contract date at 75% LTV, 6.75% fixed, IO for 24 months.

Commercial·Southeast U.S.

Bridge execution on a transitional mixed-use asset.

Asset: Mixed-use · retail + apartments
Loan amount: $3.6M
Structure: Bridge · 18-mo interest-only
Rate: 10.25%
LTV / LTC: 70%

Challenge

Existing loan was maturing on an asset mid-lease-up; conventional refinance was not yet available.

Solution

Structured an 18-month bridge with an integrated rehab reserve and a defined path to a permanent DSCR takeout.

Outcome

Refinanced 14 months later into a 30-year fixed at a lower coupon post-stabilization.

Rate ranges are indicative market guidance as of July 2026 and are not a commitment to lend. Final pricing depends on asset type, leverage, DSCR, sponsor experience, occupancy, and lender guidelines.

Execution Standard

A capital-markets mindset on every file.

Marathon evaluates lender fit, structures for the business plan, communicates terms early, and manages diligence to a defined close. The result is a financing process designed to reduce confusion, preserve momentum, and improve certainty where timing matters.

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Servicing 48 States

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