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COMMERCIAL REAL ESTATE LENDING

Finance your commercial vision

Institutional-quality financing for multifamily and commercial properties nationwide. Loan sizes $15MM to $50MM.

Our commitment to you

Partnering for lasting impact: PenFed provides tailored commercial real estate financing that combines deep lending expertise, competitive rates, and flexible solutions to empower businesses and communities.

National Lender

National Lender

One relationship, Nationwide reach.

Flexible Structures

Flexible Structures

Tailored financing solutions to meet the unique demands of each transactions.

Experienced Execution

Experienced Execution

First mortgage solutions structured around your deal, not a template.

Our lending framework

Simple, transparent guidelines for our $15MM-$50MM multifamily and commercial loans.

Multifamily

Age Restricted CommunitiesStudent HousingManufactured Housing CommunitiesMultifamily

$15MM - $50MM

PenFed Loan Amount

Floating Rate

Up to 60 months term

Flexible Structures

Nonrecourse, flexible prepayment

National Coverage

One relationship, Nationwide reach

Loan Purpose:Purchase, Refinance, or Renovations
Interest Rate:Floating Rate: SOFR + Spread (Deal Specific)Amortization:Interest Only or AmortizingOrigination Fee:1.0% (typically)Pre-Payment Fee:None
Loan to Value:Up to 75%Debt Service Coverage:Minimum 1.20x (Pro Forma Stabilized DSCR on 30-year amortizing schedule)
Recourse:Nonrecourse, except for standard carveouts
Loan Purpose:Purchase, Refinance, or Renovations
Interest Rate:Floating Rate: SOFR + Spread (Deal Specific)Amortization:Interest Only or AmortizingOrigination Fee:1.0% (typically)Pre-Payment Fee:None
Loan to Value:Up to 75%Debt Service Coverage:Minimum 1.25x (Pro Forma Stabilized DSCR on 30-year amortizing schedule)
Recourse:Nonrecourse, except for standard carveouts

Commercial

Industrial

Self-Storage

Medical Office

Select Retail (Neighborhood & Grocery Anchored Centers)

$15MM - $50MM

PenFed Loan Amount

Floating Rate

Up to 60 months term

Flexible Structures

Nonrecourse, flexible prepayment

National Coverage

One relationship, Nationwide reach

Let’s talk about your next deal

Connect with our CRE specialists to discuss your specific transaction and explore your financing options.

Explore a new CRE loan

John Shanahan

VP, CRE Originations

(703) 300-3879

Commercial Real Estate Loan Transactions

  • Student Housing

    Student Housing

    $25,500,000

    Floating rate, 5-year refinance of 320-bed student housing project in Bozeman, MT

  • Multi-family

    Multi-family

    $23,025,000

    Fixed rate, 10-year refinance of 200-unit Class A, adaptive re-use, high-rise multi-family property in Richmond, VA.

  • Retail

    Retail

    $40,740,000

    Floating rate, 7-year refinance of 3 buildings (110,410 square feet) within a retail lifestyle center in Riverdale, MD.

Pentagon Federal Credit Union (PenFed) is one of the largest federal credit unions in the United States with ~$30 billion in assets. PenFed has been putting members first since 1935. With over 3 million members, we are open to all applicants, not just military personnel.

PenFed Commercial Real Estate Lending – Large enough to matter, small enough to care.

This credit union is federally insured by the National Credit Union Administration. Rates are current as of August 2026 unless otherwise noted and are subject to change.

APY = Annual Percentage Yield
APR = Annual Percentage Rate

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