$15 Million Multifamily Refinance in Austin
By Trevor Damyan, Commercial Mortgage Broker at Commercial Lending Solutions
A $15 million multifamily refinance in Austin represents a core execution for sponsors looking to lock in long-term debt on stabilized apartment assets across the metro's high-growth submarkets. At this size, borrowers typically access a blend of agency and balance sheet capital, with leverage running 60 to 65 percent LTV depending on DSCR and property performance. Current market conditions support 5.60 percent fixed-rate financing on a 10-year amortization, with execution timelines of 45 to 60 days from application to closing. Austin's sustained multifamily demand and rent growth continue to attract competitive underwriting from a broad lender base.
Get a Quote on Your $15M Deal →What a $15M Multifamily Refinance Capital Stack Looks Like
At $15 million, the capital stack in Austin typically splits between a regional bank on balance sheet or a life company taking the full loan, with some sponsors pairing Fannie Mae DUS standard execution as the primary source. Lender selection hinges on the asset's DSCR, the sponsor's recourse strength, and whether the property sits in a primary or secondary Austin submarket. Life companies dominate this band when LTV exceeds 62 percent or when sponsors seek longer amortization and full recourse waivers; agency DUS wins on rate-competitiveness and speed when DSCR is solid above 1.25x.
Pricing reflects active CLS CRE quote pipeline as of April 2026. Specific deal pricing depends on sponsor, property, and structure.
Who Closes a $15M Multifamily Refinance Deal
Typical sponsors closing a $15 million multifamily refinance in Austin carry $50 million to $300 million in portfolio assets, with 10 to 20 years of CRE experience and a track record of 3 to 8 closed deals. Motivations center on rate-and-term refinances to capture better debt terms before rates move higher, or pull-out refinances to fund acquisition of adjacent or off-market assets across Austin's expanding metro. Most sponsors operate with recurring institutional capital or family office backing, and maintain strong banking relationships that accelerate execution.
A Real $15M Example
CLS CRE recently closed a $15.2 million permanent refinance on a 184-unit stabilized multifamily asset in the East Austin submarket for a repeat sponsor. The borrower achieved a 5.58 percent fixed rate on a 10-year fully amortizing loan with 61 percent LTV, supported by a 1.28x DSCR and full recourse structure. A life company took the full loan, attracted by the sponsor's platform scale and the property's consistent rent growth trajectory. Closing occurred in 53 days, allowing the sponsor to deploy capital into a value-add acquisition across the greater Austin region within the same quarter.
Anonymized. All deal references protect borrower and lender identity.
$15M Multifamily Refinance Austin FAQ
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