Commercial Financing

Structured debt for commercial real estate sponsors.

Advisory-led executions across acquisition, refinance, bridge, and construction capital for income-producing and transitional assets.

Transaction Types

Capital structured against the business plan.

Acquisition financing

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

Rate outlook

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

Refinance

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

Rate outlook

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

Bridge loans

Short-duration executions for transitional assets and business plans.

Rate outlook

9% – 12.5% · 12-mo interest-only

Construction financing

Ground-up and vertical construction capital for qualified sponsors.

Rate outlook

10% – 14% · 12 – 24-mo interest-only

Value-add / transitional

Debt structured through the lease-up and stabilization window.

Rate outlook

~9% – 12.5% bridge + rehab

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 $20M. 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.

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Have a commercial transaction to place?

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Servicing 48 States

Request Financing Review 601.422.7660