Permanent debt is the loan you hold after the business plan has become cash flow. Capital Market Funds originates it for Arizona acquisitions and for takeouts. The refinance page is the sibling that starts from an existing note and its prepay. This page is the permanent box itself: term, amortization, and a source that can live with the asset.
For multifamily, permanent usually means Fannie Mae, Freddie Mac, or HUD 223(f), and sometimes a life company. We are not a DUS lender. For industrial, retail, and select office, permanent usually means life company, bank or credit union, or CMBS. Bridge is upstream. If occupancy will not clear a permanent box, we will say so and point at lease-up or bridge instead of forcing a quote.
Two published originations are marked permanent: a $5,000,000 Phoenix industrial cash-out in 2019, life company, and a $6,850,000 Scottsdale Airpark flex refinance in 2019, life company. Both are prior-firm originations. They are not a rate sheet.
How the capital is shopped
- Life company
Permanent debt for core cash flow. Rate lock is typically at application.
- Fannie Mae
Stabilized Arizona multifamily. Originated to Fannie Mae. Not a DUS lender.
- Freddie Mac
Optigo conventional, targeted, and value-add. We are not the seller/servicer.
- HUD / FHA
223(f), 221(d)(4), and 232 with a HUD-approved lender. Not MAP or LEAN approval.
- CMBS
Conduit or single-asset when life company or bank credit will not stretch.
- Bank and credit union
Portfolio hold when the relationship, not a securitization box, is the point.