Financing large-scale commercial real estate projects is a time consuming process that has a deep impact on project revenue. Commercial mortgages fall into their own class of financial products. They are different because there is no standard methodology that all lenders use to underwrite them so they require a lot more expertise to successfully put together.
Lenders typically underwrite each commercial mortgage transaction according to the merits of the proposal and the financial strength of the borrower. Once the lender is satisfied with the risk in funding the commercial mortgage or project, they will then decide on price.