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Program 10

CRE Permanent in Merced

Merced permanent commercial loans for long industrial holds.

Long-term permanent financing for stabilized commercial real estate, placed through agency, insurance and wholesale channels, with a bridge-to-permanent path. Merced County's long holds are industrial space around Castle and the food-processing plants. Business-purpose only, subject to underwriting.

CRE Permanent in Merced, CA from USA Mortgage
Agency
Fannie/Freddie
Long-term
fixed
Multifamily
& commercial
Wholesale
channels

Typical figures, subject to underwriting and market conditions. Not a commitment to lend.

How it works

For a stabilized asset ready for permanent debt, we shop your file across agency multifamily programs, insurance companies, and wholesale lenders, then place the structure that fits your hold. When a deal needs to stabilize first, we can bridge it and refinance into permanent debt later.

Who it's for
Stabilized multifamily 5+
Commercial and mixed-use
Agency permanent debt
Refi out of a bridge
Typical terms
PropertyStabilized commercial
ProgramsAgency, insurance, wholesale
TermLong-term permanent
RateMarket permanent rates
UseAcquisition or refinance
Best forLong-term holds
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*Typical terms, subject to underwriting and market conditions.

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Local FAQ

CRE Permanent in Merced, answered.

Which Merced County commercial properties suit permanent debt?
Stabilized industrial and flex space, especially around Castle Commerce Center. The county-owned campus lists more than 60 tenants by its own count, including the Transportation Research Center, Waymo and Patriot Rail, plus an Opportunity Zone designation and Foreign Trade Zone 226. We found no county vacancy, rent or cap-rate data, so we make no market claim beyond the structure. A stabilized asset with leases in place is what permanent debt is built for, and we can bridge an asset that needs to stabilize first.

Sources: countyofmerced.com

Do the county's food-processing plants support long-hold industrial debt?
They anchor the industrial base. The state's major-employer list for Merced County names Foster Farms and Sensient Natural Ingredients in Livingston, Hilmar Cheese in Hilmar, Dole Packaged Foods in Atwater, and Liberty Packing in Los Banos. The list is vendor-compiled and has no headcounts. Milk was the county's number one commodity in 2022 at $1,500,840,000, which is the farm supply behind the dairy plants. Whether any single building is stabilized is a property question, so underwriting reads the lease, not the neighborhood.

Sources: labormarketinfo.edd.ca.gov, countyofmerced.com

Is there agency multifamily stock in Merced County?
Thin, by new supply. The metro permitted 780 units in 2025: 697 single-family, 3 in 3-4 unit buildings, and 80 in 5+ unit buildings, which was 10 buildings. That is about 2.6 units per 1,000 residents (780 / 297,260 x 1,000). Agency multifamily debt needs 5+ unit stock, and new supply here is overwhelmingly single-family. Existing 5+ unit inventory was not counted in the research, so we make no claim about it.

Sources: www2.census.gov

How do property tax and inheritance rules affect a long commercial hold here?
Plan for a price-based reset on purchase and a reset on transfer. Under Proposition 13 the assessed base resets to the price paid, then grows at most 2% a year. County ad valorem stacks run from about 1.04% to 1.16% across common school districts for 2026-27, and newer City of Merced tracts add a services special tax. Since Proposition 19, the parent-child exclusion no longer covers investment or commercial property outside a principal residence or family farm, so inherited property is reassessed to market. Talk to your CPA and estate attorney.

Sources: boe.ca.gov, countyofmerced.com

What flood risk should a permanent lender see in a Merced County file?
The January 2023 flood is the reference event. Bear Creek above McKee Road reached a flood of record at 26.18 feet on January 10, 2023, and the town of Planada was ordered to evacuate after a levee breach. A lender may require flood coverage near Bear Creek and the other creeks. We found no county flood-zone parcel share, NFIP policy counts or premium averages, so we cite none. A parcel-level flood determination belongs in the file before commitment.

Sources: weather.gov

More CRE Permanent questions, answered on the program page

Resources

Guides for CRE Permanent

Bridge · 4 min read
What Is a Bridge Loan in Real Estate?
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SBA · 5 min read
SBA 7(a) vs 504: Which Is Right for Owner-Occupied Real Estate?
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Bridge · 4 min read
Commercial Bridge vs Permanent Financing
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Bridge Loan Exit Strategies: How to Pay Off Short-Term Debt
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About the local figures on this page

Local rules move. Every tax rate, fee, ordinance and market figure here comes from a primary source and carries the date we read it, and we correct them as the rules change. Where a number is mid-change or we could not verify it, we say so rather than guess. Before you commit a budget, confirm anything that drives it with the city or county, and talk to your attorney or CPA on questions of law or tax.

Published by USA Mortgage Funding, LLC, NMLS #152588. Researched from primary sources by our team, drafted with AI assistance, and every figure checked against its source before publishing. Where an answer rests on a public record, that record is linked under it. Figures read on 2026-10-16.

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