|
|
|
|
|
|
COND I & II (CMBS Loan)
| Loan Type: |
Full Documentation |
| Loan Amount: |
$2,000,000 – no maximum |
| Term: |
5 or 10 years |
| Amortization: |
25-30 years |
| Minimum DCR: |
1.20x; 1.40x on hotels |
| Maximum LTV: |
80% Purchase/Refinance on most property types (75% on unanchored retail and 65-70% on flagged hotels) |
| Interest Rate: |
Fixed – 5 or 10 year fixed |
| Origination Fee: |
1.00% |
| Eligible Properties: |
Multifamily (5+ units), Mixed-Use, Office, Retail, Mobile Home Parks, Warehouse, Self-Storage, Light Industrial, Flagged Hotels |
| Eligible Borrower: |
Single-asset entity; U.S. citizens only |
| Recourse: |
Non-recourse to Sponsor with standard carve-outs |
| Prepayment Penalty: |
Yield Maintenance or Defeasance; corresponds with term |
| Assumable: |
Subject to approval and a 1% fee |
| Subordinate Financing: |
Not allowed |
| Credit: |
Generally good credit quality with sufficient liquidity and net worth. Should have management and/or ownership experience in commercial real estate |
|
|
|
|
|
|
