CMBS Loan Parameters


Fixed Rate
Eligible Locations: MSA’s within the U.S. and its territories exhibiting strong economic and property-type specific fundamentals
Property Types: Stabilized property types including Office, Retail, Industrial, Multi-Family and Hotel. Self-Storage and Mobile Home Parks will be considered on a case-by-case basis
Loan Amount: $3MM to $50MM
Loan Term: 5, 7 and 10-year loan terms
Amortization: Typically 30 years (shorter terms may be required based on property type and use)
Loan to Value: Up to 75% of FIRREA Appraised Value
DSCR : Minimum 1.25x DSCR on CCRE underwritten net cash flow.
Processing Fee & Expense Deposit: $5,000 Processing Fee (may vary depending on transaction)Expense Deposit sufficient to cover third party, legal and out-of-pocket expenses
Reserves: Tax, Insurance and Replacement Reserves required
Sponsor/Borrower: Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth
Borrowing Entity: Single asset or special purpose entity required depending on loan size
Recourse: Non-recourse, with the exception of industry standard “bad boy” carve outs
Assumability: Permitted subject to lender approval and an assumption fee
Prepayment: Defeasance with 90 day open period during the 90 days prior to scheduled maturity date. Yield Maintenance available on a case-by-case basis