How Financing Makes or Breaks a Commercial Real Estate Deal

Podcast: The Commercial Real Estate Investor Podcast · Tyler Cauble

Opublikowano: 2026-07-24

Key Takeaways Capital stack basics: Every deal is financed through a mix of debt and equity layered by priority — the more secure/senior a position, the cheaper it is, and lower layers get paid back first. Stacks range from simple (all-cash) to highly complex (10+ sources, as in affordable housing deals). Senior debt (cheapest, first position): Currently running ~6.5–7.5% interest, typically capped at 60–75% loan-to-cost. Lenders often quote a higher headline LTV/LTC, but DSCR requirements — not the stated LTV — are what actually limit how much debt a deal can support today. Mezzanine/junior debt (second position...