CRE Permanent in Sherman

Treat it as conditional, not scheduled. Only the first fab, SM1, is actually producing, since December 17, 2025. Texas Instruments has said the remaining three fabs at the site are built or equipped "based on market demand," which is a capital-allocation trigger, not a committed timeline. A CRE permanent loan here should be underwritten on the stabilized asset in front of you, not on the full four-fab plan.

It is a fixed carry line with no cap on it, and it moves by parcel. Investment property in Texas gets no homestead exemption and no 10% appraisal cap, so assessed value can track the market year after year across a long hold. The countywide base is 0.451080 per $100 of value, and the total stack on top of it ran from 1.929881 in Pottsboro to 2.318114 in Denison on tax year 2025 rates, before any municipal utility district or public improvement district overlay. The one relief that reaches non-homestead property, the 20% circuit breaker under Tax Code section 23.231, applies only under a value threshold, requires a full calendar year of ownership, is stripped on sale, and is written to expire on December 31, 2026. Underwrite the tax line to grow, pull the parcel's Grayson Central Appraisal District account, and talk to your CPA or a property tax consultant about the May 15 protest deadline.

On a bound quote for the specific building, not on a county figure. Grayson County sits deep inland on the Red River and is outside TWIA's coastal windstorm pool, so there is no hurricane wind-pool exposure or TWIA assessment risk to price in. What does drive cost here is North Texas hail and wind on roofs, the same loss profile as the DFW counties immediately south, and hail has been the number one Texas homeowners loss peril in nine of the last ten years. The published Texas premium data is residential and does not price a commercial roof, and no Grayson County average was available from a primary source for this page, so carry a bound quote on the actual building into the permanent-debt pro forma rather than a benchmark.

It affects the rent environment your asset has to prove into, so read the trailing numbers before you call anything stabilized. Grayson County permitted roughly 2,700 apartment units across 2023 through 2025, and the Zillow Observed Rent Index for the metro was down 4.4 percent year over year as of July 2026 across all property types. A multifamily asset seeking permanent debt here needs occupancy and rent history that already reflects that supply, not a pro forma written before it delivered.

Yes, through the bridge-to-permanent path. When an asset needs to lease up or reposition before a permanent lender will underwrite it, we can place a CRE bridge loan first and refinance into permanent debt once the property performs. That sequencing matters most here because the county has both a fab buildout on a decade-long horizon and a 2023-2025 apartment wave still working through lease-up.

Permanent (or perm) financing is long-term debt on a stabilized commercial property, the loan you move into once a building is leased up and performing. It replaces short-term bridge or construction debt with a longer fixed term and a lower rate.

We place permanent debt through agency multifamily programs (Fannie Mae and Freddie Mac), insurance companies, and other wholesale lenders. Because we shop multiple sources, we can match your asset to the program with the best long-term terms.

Stabilized multifamily of five units and up, plus mixed-use and other commercial assets with a solid operating history. Agency multifamily in particular looks for occupancy and cash flow that support long-term debt.

The bridge program is short-term capital to acquire or reposition a property; permanent financing is the long-term exit once it is stabilized. Many investors use both in sequence, bridging to stabilize and then refinancing into permanent debt. We can line up both.

Permanent commercial rates run well below bridge pricing and move with the agency and wholesale market, on long fixed terms. The exact rate depends on the asset, the program, and current conditions, and we will walk you through the options.

Plan on several weeks, since agency and wholesale permanent loans require full underwriting, third-party reports, and lender approval. We manage the placement and keep one point of contact on your file from quote to close.