- Purchase price
- $3,250,000
- Loan
- $2,250,000 (65% LTC)
- Lender
- Renasant Bank
- Rate
- 6.55% fixed (5-yr Treasury + 150 bps)
- Amortization
- 20 years
- DSCR
- 1.25x
- Term
- 5 years
Brevard County, a market with 3% vacancy. Fixed-rate debt for the full term.
Capital Advisory for Commercial Real Estate
Structured debt and capital solutions for sponsors and operators nationwide.
Focused Advisory
Capital guidance for sponsors and operators where structure, discretion, and execution discipline materially shape transaction outcomes.
Think of us as a matchmaker with a very deep contact book.
We work with a network of over 1,000 banks, credit unions, and debt funds to find terms that best fit your deal, not just the first term sheet that lands in your inbox.
Capabilities
Capital Solutions
Structured capital advisory across debt, development, transitional, and subordinate capital strategies.
Senior Debt
Acquisition, refinance, and recapitalization financing for commercial real estate transactions.
Construction Financing
Ground-up and development financing for sponsors seeking project-level capital solutions.
Bridge Capital
Short-term and transitional financing strategies for value-add, lease-up, and repositioning scenarios.
Mezzanine & Preferred Equity
Structured subordinate capital solutions for complex financing requirements.
Property Types
Commercial Real Estate Asset Classes
Financing advisory across stabilized, transitional, and development-oriented commercial real estate assets nationwide.
Multifamily
Market-rate, workforce housing, and value-add apartment communities.
Industrial & Logistics
Distribution, logistics, and light industrial assets across major U.S. markets.
Office
Stabilized and transitional office properties in primary and secondary markets.
Retail
Neighborhood centers, grocery-anchored retail, and mixed-tenant retail assets.
Hospitality
Select-service and full-service hospitality properties in institutional markets.
Mixed-Use
Integrated residential, retail, and commercial developments.
Transaction Roadmap
Execution & Advisory Approach
Advisory-led execution across the financing process — from capital structuring and lender selection to negotiation and closing.
Structured Capital Strategy
Evaluation of the transaction, capital requirements, and sponsor objectives to determine the optimal financing structure.
Market Positioning
Preparation of financing materials and positioning of the opportunity for institutional lenders and capital providers.
Targeted Capital Sourcing
Focused outreach to a curated network of lenders, debt funds, and capital partners to generate competitive financing options.
Negotiation & Structuring
Management of lender discussions and negotiation of financing terms to align with sponsor objectives and transaction requirements.
Transaction Execution
Coordination with lenders and advisors to manage the financing process through documentation and closing.
Track Record
Successful Closings
A selection of closed transactions representing DBS Capital Advisory’s execution across commercial real estate financing assignments.
- Purchase price
- $3,400,000
- Loan
- $2,100,000
- Construction
- $680,000
- Total loan
- $2,780,000 (81.7% LTC)
- Lender
- Renasant Bank
- Structure
- 12 months interest-only, then 20-year amortization
- Rate
- 6.63% fixed
- Term
- 60 months
- Loan
- $2,500,000
- Lender
- First Independence Bank
- Rate
- 5.90% fixed
- Amortization
- 25 years
- Max LTV
- 75%
- DSCR
- 1.20x
First refinance and first closing outside Florida.
- Purchase price
- $10,500,000
- Loan
- $8,089,571 (70% LTC)
- Lender
- Bank OZK
- Structure
- 18 months interest-only, then 25-year amortization
- Rate
- WSJ Prime + 0.50%
- Term
- 5 years
18 months to lease up before amortization starts.
Repeat client: North Park Ventures, four deals in a row.
Market ReadOctober 2026
Where Industrial/IOS Leverage Is Sitting Right Now
I wanted to share a quick market read for anyone underwriting industrial or IOS acquisitions right now.
In recent deals, I'm seeing:
- Bank leverage
- 65–75% LTC
- 65% to 75% loan-to-cost for stabilized or near-stabilized assets
- Rate
- Prime + 0.25–0.75%
- WSJ Prime plus 0.25% to 0.75%, depending on sponsor strength and asset quality, or 200-300 bps over SOFR
- Structure
- 12–24 mo IO
- 12 to 24 months of interest-only is common on lease-up deals, followed by 20-25-year amortization
- DSCR
- 1.25–1.30x
- 1.25x to 1.30x, tested annually, is the going standard
The gap worth noting: agency and life company money remains selective for industrial/IOS compared with multifamily, so most of these deals are being done through regional and community banks with a real appetite for relationships.
If you're sizing an industrial acquisition or refi, I'm happy to run the numbers with you.
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Leadership
Joey Darshan
Founder & Managing Partner
Joey Darshan is the Founder and Managing Partner of DBS Capital Advisory, a Miami Beach-based commercial real estate debt advisory firm with over a decade of experience across multifamily, industrial, and retail, including $100M+ in closed transactions. Joey advises sponsors, syndicators, and operators nationwide on debt strategy, capital structure, and execution.
A University of Florida economics graduate and licensed NMLS professional, Joey draws on a deep network of lenders to source financing for acquisitions, refinancings, bridge loans, construction, and permanent placements. DBS Capital Advisory delivers institutional-quality advisory with a singular focus: the most competitive terms, transparent guidance, and exceptional execution.
- Experience
- Decade-plus in CRE debt
- Closed Volume
- $100M+ in transactions
- Education
- University of Florida
- Licensing
- Licensed NMLS professional
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