Conduit / CMBS Loans

Loan Amount $10 to $75 million; may go higher in select cases
Term 5 to 10-year terms
Loan-to-value (LTV) Up to 75%
Debt Yield Tailored to each transaction
Purpose Acquisition, Refinancing
Loan Type Fixed
Structure Senior Mortgage
Pricing Competitive pricing tailored to each transaction
Minimum DSCR 1.30x (can reduce to 1.25x for certain opportunities)
Amortization Up to 30 years; Partial and Full-Term IO available depending on LTV and DSCR
Recourse Non-recourse except for certain standard carve outs
Fees Generally at Par
Prepayment Treasury defeasance after the earlier of (i) two years after a securitization or (ii) three years from the closing date. Open 90 days prior to maturity.
Property Types / Geography Multifamily, Retail, Office, Industrial, Hospitality, Mobile Home Communities, and Self-Storage properties located in primary and secondary markets throughout the US