|
Loan Amounts: |
$3,000,000 -
$50,000,000 |
|
Qualifications: |
Existing,
stabilized, income-producing properties. |
|
Property Types: |
Multi-Family
Office
Retail (anchor and unanchored)
Industrial
Self Storage
Hotel –
Flagged an un-flagged landmark properties
Assisted living
and health care on a selective basis.
Single Tenant – Investment
and non-investment grade.
Investment
grade tenants must be rated "BBB" or better with a stable
outlook by both Standard & Poor's and Moody’s Investors Service.
Larger, well-established unrated tenants are possible. |
|
Term: |
10-year term is
standard (exceptions made on a case by case basis). Can structure 5-year
term or 7-year term on a selective basis.
|
|
Index: |
10-year U.S. Treasury for
10-year loan term
7-year interpolated U.S.
Treasury for 7-year term
5-year U.S. Treasury for a
5-year loan term.
|
|
Spread: |
Call for pricing or see matrix
on web site.
|
|
Amortization: |
Up to 30-Years
|
|
Loan-to-Value: |
Multi-family
Office
Anchored Retail
Unanchored Retail
Industrial
Self Storage
Hotel
|
up to 80%
up to 75%
up to 80%
up to 75%
up to 75%
up to 70%
up to 70% |
|
Minimum DSCR: |
Multi-family
Office
Anchored Retail
Unanchored Retail
Industrial
Self Storage
Hotel
|
1.20x
1.25x
1.25x
1.30x
1.25x
1.30x
1.45x
|
|
Typical
Closing: |
45 – 60 days
from receipt of executed application and Good Faith Deposit. |
|
Recourse: |
Non-recourse except for
standard carve-outs for "bad boy" acts and
environmental.
|
|
Required Reports: |
MAI Appraisal
Phase I Environmental
Assessment Report
Physical Condition Assessment
Report
Other reports may be required
on a selective basis.
Reports
generated for other lenders may be acceptable. Submit on a case-by-case
basis. |
Suite 402