Cash Out Refinance Interest Rate Advice - Light Industrial Property
Wondering if anybody has insight on how low you can get interest rates are on leased light industrial property cash out. Terms: 5/25, 65% LTV, excellent credit, primary market (Denver).

I've been talking to some different lenders and I'm getting a range of 3.5%-5.5%. Not sure if I should go with the 3.5% or keep shopping.

Any advice on rates or where to go for Capital is greatly appreciated.
[{"id": "gwbxfia", "text": "I've been getting quotes for a smaller industrial property right now as well.  3.5ish is the lowest I've seen.  If i could jump on it now, i would, but there were no written leases for this building so i need to wait a few weeks till the leases are done.  (Going in to get one signed right now!)\n\nGood luck!", "replies": [], "depth": 1}, {"id": "gwbzxzy", "text": "I just quoted a 10 year at 3.98. The 3.5% for 5 years isn't bad depending on the credit risk and the sponsor profile.  Is this recourse or non-recourse? Traditional bank deal or a CMBS type transaction?  Overall it'd not terrible pricing but not great.", "replies": [{"id": "gwd3mtv", "text": "Its a credit union quoting the loan. Its a recourse loan and were really low risk high credit quality borrowers.", "replies": [], "depth": 2}], "depth": 1}, {"id": "gwch11h", "text": "I\u2019m a CRE lender on the east coast. Not sure how the Denver market differs but I just quoted someone 3.7% for a very similar property and deal structure. I\u2019d say jump on the 3.5% offer unless you think this would fit with CMBS or a life company, which typically have lower rates but stricter credit requirements.", "replies": [], "depth": 1}, {"id": "gwdmidu", "text": "It's cash out. You pay a premium on that.", "replies": [], "depth": 1}, {"id": "gwg2sxr", "text": "From debt side (underwriting) I've never seen anything priced below 3.75% in this rock bottom interest environment. 3.5% sounds like as good as it gets. I wouldn't wait around too long cause rates will likely start rising as the economy improves in the near future. I don't think you'll find anything below that.", "replies": [{"id": "gwg2xer", "text": "Thank you!", "replies": [], "depth": 2}], "depth": 1}]