PERMANENT LOAN criteria
Loan Amount
$2 - $200+ million
Interest Rate
Fixed
Loan Term
5-, 7-, and 10-year options
Amortization
Full term interest-only available in select instances
Asset Types
Office, Retail, Industrial, Hospitality, Multifamily, Self-Storage, Mixed-Use, Senior Housing/AL
Loan Scenarios
Refinance, acquisition, recapitalization, construction, among others
Security
Senior secured first mortgage or deed of trust
Leverage
Up to 75% as-stabilized, 80% LTC of total project costs
DSCR
Minimum 1.15x multifamily, 1.20x commercial
Origination/Exit Fees
Typically 25 to 100 basis points
Recourse
Non-recourse with industry-standard carve-outs
Geographical Focus
Throughout the Continental US, certain markets excluded
Prepayment
Typically 2 to 3 year lockout, defeasance or yield maintenance thereafter
Closing Time
As quickly as 5 weeks