Mixed-use has no program of its own. The dominant use, the percentage of income, and the way the leases are written decide the box. A building that is mostly stabilized apartments may be Fannie Mae, Freddie Mac, or HUD if the program accepts the commercial component. A building that is mostly retail or office is life company, bank, or CMBS. If neither box will take the split, bridge is the transitional answer, not a blended fantasy.
No mixed-use tombstone is published. The Block at Pima Center is multi-tenant retail, not mixed-use, and it stays on the retail page. We will not recategorize it.
Bring the rent roll by use. Craig will say which source will actually read the file. That recommendation can be agency, life company, bank, CMBS, or bridge. It will not be a claim that every mixed-use project in Maricopa clears the same leverage.
Sources for Arizona mixed-use
- Fannie Mae
Stabilized Arizona multifamily. Originated to Fannie Mae. Not a DUS lender.
- Life company
Permanent debt for core cash flow. Rate lock is typically at application.
- Bank and credit union
Portfolio hold when the relationship, not a securitization box, is the point.
- CMBS
Conduit or single-asset when life company or bank credit will not stretch.
- Bridge and private
Transitional capital sourced from private investors, with a takeout in mind.