Can I still refinance an office building in 2026?

Yes — if the building has verifiable coverage, granular tenancy, and a submarket demand story. We closed a 5.70% fixed office refinance in 40 days in late 2025 with a bank that required no deposit relationship. The lender universe is narrower than 2019, not closed.

What leverage can office get right now?

Typically 60–65% loan-to-value with banks and credit unions on well-leased buildings, with 1.25x debt-service coverage usually the binding constraint. Bridge capital for transitional office runs similar leverage against a defensible stabilized value.

My office loan is maturing and my bank won't renew — what now?

This is the most common office conversation we have. The answer depends on which of the four maturity paths your numbers support — clean refinance with a different lender, structured refinance, maturity-defense bridge, or a capital event. Start with the maturity playbook, then send us the deal.

Is medical office treated differently than general office?

Meaningfully. Medical office carries stickier tenancy, longer leases, and build-out that anchors tenants in place — lenders price all of that as durability, and several capital sources that avoid general office actively pursue medical.

Office Building Financing & Refinance — Still Bankable

Office building financing — in a market that says it can't be done.

Office debt from $1MM to $150MM — refinances, acquisitions, and bridge — placed with the banks and funds still writing the business. Recent proof: a $2.7MM Tarzana refinance at 5.70% fixed, closed in 40 days, at the height of the office panic.

Piccard Financial · $500MM+ arranged since 1984 · Beverly Hills

The office headlines describe half-empty towers. They do not describe boulevard-front buildings full of medical groups, law practices, and local firms serving the neighborhoods around them. Lenders know the difference — and a specific universe of them is still quoting office competitively for owners who present the right credit case.

We finance the office the market still wants: small-balance and mid-size buildings with granular rent rolls, medical office, owner-user and majority-occupied buildings, neighborhood professional space, and creative office in supply-constrained submarkets. We are candid about the rest — commodity floor plates competing citywide for corporate tenants face a genuinely narrow lender universe, and if that's the profile, we say so before you spend months finding out.

Where the capital comes from

Banks. Selectively, and on their terms — but real. Our Tarzana closing ran 65% LTV, 1.25x coverage, 5.70% fixed, 40 days application-to-close, minimal fees, and no depository relationship required. Some banks have a categorical no on office; knowing which ones don't is most of the assignment.
Credit unions. Balance-sheet discretion and relationship underwriting — often the strongest quotes on well-leased suburban and boulevard office.
Debt funds and bridge capital. For lease-up, repositioning, tenant rollover, and maturity defense, sized to the stabilized picture at 60–70% of a defensible value.
SBA and owner-user paths. Majority owner-occupied buildings unlock a different lender universe entirely, with leverage conventional office can't reach.

Lenders have not stopped financing office. They have stopped financing the office story they read about.

What makes office bankable in this market

Verifiable coverage on in-place income — 1.25x is the entry ticket. A granular rent roll where any single expiration is a leasing problem, not an existential one. A submarket with its own demand story: Ventura Boulevard professional space serving the Valley underwrites differently than commodity space competing downtown. Honest leverage at 60–65% of a current valuation. And the right lender list — approaching banks with an office moratorium burns three weeks per polite decline. The full argument is in the Tarzana case study; the coverage math is in the DSCR guide.

Selected office closings

$2.7MM — 19634 Ventura Blvd, Tarzana. Bank refinance, 5.70% fixed, 65% LTV, 40 days. Read the case study →
$10.95MM — LA Office & Retail Portfolio, Beverly Hills / Santa Monica / Venice. Fund refinance across three Westside assets.
$2.25MM — 8560 Wilshire Blvd, Beverly Hills. Retail/office bridge at 8.50%, closed in two weeks. Read the case study →

See office closings on the transactions page →

Rates and terms referenced are drawn from transactions arranged by Piccard Financial, reflect market conditions at the time of closing, and change with the market. Not an offer or commitment to lend.

Office building financing — in a market that says it can't be done.

Where the capital comes from

What makes office bankable in this market

Selected office closings

Office financing questions, answered.

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