New rates are effective immediately across all applicable loan types
Specialist commercial real estate lender Pallas Capital has reduced its commercial rates by 0.50% to 0.70% across its loan portfolio.
The new rates include a reduction in residual stock and investment loans to 9.25% p.a., down from 9.95% p.a. Pre-development loans are now set at 9.95% p.a., down from 10.45% p.a., while land loans have been reduced to 10.25% p.a. from 10.95% p.a. Residual land lot loans have also dropped to 9.95% p.a., down from 10.45% p.a.
“This rate reduction underscores our commitment to providing competitive and flexible financial solutions,” said Dan Gallen (pictured above left), chief investment officer at Pallas Capital.
“Our continued growth, supported by robust institutional partnerships, enables us to deliver rates that reflect the evolving market landscape, benefiting brokers and their clients alike.”
“We pride ourselves on offering bespoke loan structures that are tailored to each client's unique objectives,” said Jason Arnold (pictured above right), group executive of origination at Pallas Capital. “These rate cuts further ensure that we provide not only exceptional value but also the personalised service that Pallas Capital is known for.”
The latest reduction makes Pallas Capital one of the most competitive non-bank lenders in the market and comes after the Reserve Bank of Australia (RBA) held its rates steady last week.
Earlier this year, Pallas Capital partnered with Ares to launch a $450 million facility for commercial real estate borrowers. In July, the firm secured additional funding from Westpac New Zealand for a NZ$360 million facility, marking further expansion of its lending platform.
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