Loan Amount |
$3 – $75 million; may go higher in select cases |
Term |
5-10 years |
Loan-to-value (LTV) |
Up to 75% on “As Is” |
Debt Yield |
7.0% – 11.0% (based on underwritten cash flow) |
Purpose |
Acquisition or refinancing on stabilized assets |
Loan Type |
Fixed rate |
Structure |
Senior Mortgage |
Pricing |
Pricing will vary, rates will typically fall in 4.0% – 5.0% range depending on leverage |
Minimum DSCR |
1.25x DSCR on underwritten net cash flow |
Amortization |
30 years or less |
Recourse |
Typically non-recourse except for certain standard carve-outs |
Fees |
Generally at Par |
Prepayment |
Locked out followed by defeasance or yield maintenance |
Property Types / Geography |
Multifamily, Retail, Office, Industrial, Self-Storage, Mobile Home Parks, and Hospitality properties located in primary and secondary markets throughout the U.S. |