Wanted to give kudos to @Connor Dahl for securing my financing on a ground up 43,000 sqft small bay flex development in Greenville SC. Connor got me a construction to mini-perm loan with interest only for 24 months on a 5 year term with 25 year amortization at a 7.0% fixed rate for the term with 75% LTC. I met Connor through this Basecamp forum and he did a great job for me. I would recommend him and PeakHill Capital. Thanks @Will Skillman for putting this community together!

Hello, my name is Dennis Kisel with Kisel Development Group, we are based in Asheville NC. We are working on a new construction 72,000 small bay flex park, if anyone is interested in this opportunity contact me at [email protected] or ask for my phone number via this chat, thank you!

Looking to build out ~75k sqft of flex warehouse / small bay in chapel hill. Any recommendations for optimizing the capital stack? Specifically finding and vetting joint venture, GC, LP and construction lending partners

Industrial construction is picking back up, but it's a different kind of pipeline than 2022. Lenders pulled back hard on spec industrial after 2022, and they're increasingly underwriting committed tenancy instead of a pro forma rent growth story. Build to suits and partially preleased projects are absorbing a growing share of new starts in a lot of markets, while pure spec still gets built but usually needs a stronger sponsor or more equity in the stack to get a lender comfortable. Curious how others here are seeing this play out. Is preleasing becoming the real gatekeeper for industrial financing in your markets, or are lenders still funding spec where the fundamentals are strong enough?

Some real debt pricing we saw this past week across a few different types of executions: - Life co: $10MM — 10 yr UST + 115; full-term IO - Life co: $3.8MM — 5 yr UST + 135; full-term IO - Life co: $5.85MM — 5 yr UST + 155; 30 yr AM - Regional Bank: $2.52MM — 6.15% fixed; 5 yr term; 25 yr AM - Life co: $13.5MM — 10 yr UST + 125; full-term IO - Regional Bank (Construction): $4MM — 5 yr UST + 200; 2 years IO - Life co (Bridge): $12.25MM — 3 yr UST + 325; full-term IO - Debt Fund (Bridge: Value-Add): $10.5MM — S + 350; full-term IO Similar theme to what I'm seeing in other asset classes, but even more pronounced in industrial: Life companies continue to dominate on price for the right assets, with spreads in the +115–155 range and increasingly aggressive structures like full-term IO on stabilized deals. Regional banks are still very active in smaller balance and construction executions, but clearly sitting in the middle of the stack on pricing—compensated for flexibility and execution certainty rather than rate. Debt funds remain the go-to for bridge capital and transitional scenarios, but are pricing at a clear premium to permanent capital, even in industrial where credit is generally viewed as stronger. Overall, industrial continues to attract some of the most aggressive institutional capital in CRE, with life companies effectively treating high-quality product as near-core credit and competing heavily on structure as much as spread.