Permanent Loan Parameters
| ELIGIBLE PROPERTY TYPES | MULTIFAMILY | OFFICE | RETAIL | INDUSTRIAL | MIXED USE | OWNER-USER |
||
| CMBS CONDUIT | PORTFOLIO | ||
| LOAN AMOUNT: | $3,000,000 minimum - No maximum. | $1,000,000 minimum - $15,000,000 maximum. | |
| MINIMUM DSCR: | 1.25x | 1.25x | |
| MAXIMUM LTV: | 70% - 75% | 70% - 75% | |
| LOAN TERM: | 3, 5, or 10 years. | 3, 5, or 7 years. | |
| AMORTIZATION: | Up to 25 years. | Up to 25 years. | |
| RECOURSE: | Non-recourse. | Full Recourse | |
| PREPAYMENT: | Defeasance or Yield Maintenance. | Limited/Step-down prepay. | |
| INTEREST RATE: | Fixed and adjustable rate options on an Actual / 360 basis. (download Current Rate Sheet) | Fixed and adjustable rate options on an Actual / 360 basis. (download Current Rate Sheet) | |
| ASSUMABLE: | Subject to approval and fee. | Subject to approval and fee. | |
| SUBORDINATE FINANCING: | Mezzanine/Preferred Equity allowed subject to approval. | Mezzanine/Preferred Equity allowed subject to approval. | |
| RATE LOCK: | Forward rate lock available. | At Loan Committee approval. | |
| APPLICATION DEPOSIT: | Covers estimated transaction costs (including Processing Fee). | Covers estimated transaction costs (including Processing Fee). | |
| ORIGINATION FEE: | Typically PAR. | Typically 1-2 points. | |
| TAX AND INSURANCE ESCROWS: | May be required. | May be required. | |
| REPLACEMENT RESERVES: | Underwritten, typically not collected. | Underwritten, typically not collected. | |
| REQUIRED REPORTS: | Self-Contained Narrative Appraisal, Property Condition Assessment and Phase I Environmental. | Self-Contained Narrative Appraisal, Property Condition Assessment and Phase I Environmental. | |
| SPONSORSHIP: | Good overall credit with sufficient liquidity & demonstrated experience with similar projects. | Good overall credit with sufficient liquidity & demonstrated experience with similar projects. | |
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Call us at (704) 350-5071.
