Commercial property financing,
by asset class.
Office, industrial, retail, self-storage, hospitality and special-purpose - each underwritten on its own logic, each with its own capital sources.
"Commercial" is not one market - it's several. Industrial and self-storage currently enjoy the deepest lender appetite; retail is underwritten on tenant credit and lease term; office is scrutinized on occupancy and rollover; hospitality on operating performance; special-purpose properties (car washes, gas stations, medical) on the business as much as the building. Stonehaven Lending arranges financing across all of them - $1M to $50M and beyond - by matching each asset class to the capital sources actively lending on it right now, and telling you plainly when appetite is thin.
What underwriting looks at.
Where appetite is deepest.
Warehouses, flex, distribution, and self-storage sit at the top of most lenders' preference lists: durable demand, low tenant-improvement costs, and straightforward underwriting. Stabilized industrial with credit tenants reaches the most competitive structures in the market; value-add and lease-up plans have ready bridge capital. If your deal is here, the question is usually which of several willing sources prices best.
Tenant credit and lease term carry the file.
Retail underwriting is a lease-by-lease exercise: who the tenants are, how long they're committed, what happens at rollover, and whether the space would re-lease at similar rent. Grocery-anchored and necessity retail finance readily; unanchored strips and single-tenant boxes with short leases require more equity and more explanation. We read the rent roll the way underwriting will and tell you where the questions are before a lender asks them.
Underwritten with scrutiny - financeable with the right story.
Office is the asset class lenders examine hardest today: occupancy trends, weighted-average lease term, tenant retention, and the building's competitive position. Well-leased suburban and medical office with long-term tenants finances; commodity office with near-term rollover needs a clear plan and real equity. Honest early word here saves months - and we give it.
The business is the collateral.
Hotels, car washes, gas stations, restaurants, medical and childcare facilities are underwritten on operating performance and operator experience as much as on real estate value - and often best served by SBA programs for owner-operators. Conventional capital exists but is selective. Knowing which sources actively lend on your specific property type is most of the battle, and it's exactly what we track.
To give an honest read.
Rent roll or operating statements, lease summary for commercial tenants, purchase contract or existing debt terms, and a sponsor summary. Within 48 hours: sizing, the sources actively lending on your asset class, and a plain read on whether the proceeds you want are realistic.
Send the basics on the property.
Asset type, income, and purpose - a capital specialist replies within 48 hours with sizing, active sources for that asset class, and honest feedback.