Methodology

We compute indicative coupons as benchmark + editorial spread ranges.

• Benchmark: We use public reference rates like the 10‑year U.S. Treasury or SOFR, fetched from the Federal Reserve/Treasury and NY Fed sources.
• Spreads: Editorial ranges by lender type (banks, LifeCos, agencies, debt funds) and leverage buckets (≤55%, 55–65%, 65–75%). Ranges are not offers.
• Update cadence: Market data is refreshed on a short cache (~6–12 hours). Spreads are monitored and adjusted periodically.

Sources

• H.15 / Treasury par yield curve (10‑yr): H.15, Treasury Par Yield
• NY Fed SOFR & averages: SOFR, Averages & Index
• Census Building Permits (state monthly): BPS, State Monthly
• BLS CES state employment: CES, Format Help

Disclosures

• Indicative rates are estimates and not offers or commitments to lend.
• Final pricing depends on structure, leverage, covenants, property, sponsor, and market conditions.
• Volatility and macro conditions can shift quickly; always validate current benchmarks.