Industrial loan packages and lender matching
Industrial attracts a wide set of lenders, from banks to life companies to debt funds. They split on building type, tenant credit and lease term. A single-tenant warehouse with a long lease is a different loan from a multi-tenant flex park.
What lenders scrutinize on industrial.
Tenant credit and lease term
For single-tenant assets, the tenant and the remaining term are most of the underwrite.
Building functionality
Clear height, loading, truck court, power and whether the building can be re-leased to someone else.
Mark-to-market
How in-place rents compare to market, and what happens at rollover.
Location and logistics
Access to highways, ports and population. Lenders price infill and big-box differently.
What goes in the package
- Rent roll with lease expirations
- Leases or abstracts
- T-12 operating statement
- Building specifications
- Environmental report
- Appraisal
- Sponsor bio and track record
- Lease and sales comps
Metrics lenders size on
| DSCR | Often 1.25x–1.40xVaries by lender, loan program and market. |
| LTV | Often 60%–75%Varies by lender, loan program and market. |
| Debt yield | Often 8%–10%Varies by lender, loan program and market. |
Illustrative ranges, not a quote or a commitment from any lender.
Questions
What matters most in an industrial loan package?
Tenant credit and lease term, building specs, environmental condition and how in-place rents compare to market.
Does Dori support industrial deals?
Yes. Industrial is a supported property type, including warehouse and cold storage.
Do I need an environmental report in the package?
Most lenders will require one before closing. Including what you have early avoids surprises.
One closed deal covers the year.
Start on the introductory rate and see a package come out of a real deal this week.