CAPITAL STRUCTURE: PERMANENT LOAN Investment management firm offering non-recourse debt financing for a wide variety of asset types Check Size: $5-40MM LTV: Up to 70% Rate: US Treasury plus 250-300 bps Term: 3-25 years Recourse: Non-recourse with standard carve-outs Amortization: Up to 30 years Property Types: Office, industrial, retail, multifamily, student housing, self-storage Geography: Primary & […]
CAPITAL STRUCTURE: PERMANENT LOAN/ BRIDGE LOAN/ MEZZANINE LOAN and PREFERRED EQUITY Hotel specialist providing various debt and equity products for select and limited service premium branded assets. Check size: $5-$100MM for bridge and permanent loans, $1-$10MM for mezzanine and preferred equity LTV: Up to 85% on bridge and mezzanine, up to 95% on preferred equity Rate: Starting at 4.5% for senior debt and […]
CAPITAL STRUCTURE: BRIDGE LOAN/ PERMANENT LOAN Large international LifeCo providing low cost and flexible alternative to banks and domestic insurance company options. Property Type: Office, Mixed-Use, Self Storage, Flex, Industrial, Hotel, and Multifamily. Check size: $10 – $40MM Leverage: Up to 70% LTV on post COVID pricing. Lower for Retail and Hospitality. Rates: starting at 3.5% over LIBOR on floating and […]
CAPITAL STRUCTURE: CONSTRUCTION LOAN / PERMANENT LOAN An insurance company is funding large senior construction loans at a fixed rate (locked at application) that convert into the fixed-rate permanent loan. Check size: $50MM+ LTV: Max 70%; typically 65% or less Rate: Market spreads over treasuries Term: 36 months of construction term followed by 7+ year permanent loan for total of 10-25 […]
CAPITAL STRUCTURE: CONSTRUCTION LOAN / PERMANENT LOAN / PARTICIPATING LOAN An international fund manager is deploying rare participating debt investments out of its multi-billion open-ended fund. Check size: $20-$200MM LTV: 90% Rate: Current pay rate of 5-6% with 50% operating cash flow participation post debt service Waterfall: Upon a capital event: Repayment of mortgage Preferred return of 7-9% to lender Return […]
CAPITAL STRUCTURE: PERMANENT LOAN An aggressive CMBS lender has rolled out a new program offering a 40-year amortization period for 90s+ vintage multifamily, industrial, and select office properties. Check size: $5-$60MM LTV: Up to 75% as-is value Rate: Market spreads (180-200bps for full leverage) over SWAPS Term: 10 years Amortization: 40 years Interest Only: Available for 1-3 years, or more on lower […]
CAPITAL STRUCTURE: PERMANENT LOAN An aggressive Bank lending in the top 200 MSAs offering flexible long-term balance sheet financing for Multifamily, Industrial, Retail, Office, Medical Office, Self-Storage & Student Housing Check Size: $3MM – $50MM LTV: Up to 80% for Multifamily and 75% for all others Rate: Spreads ranging from 1.25% to 2% dependent on asset class, leverage and […]
CAPITAL STRUCTURE: PERMANENT LOAN CMBS lender rolls out a new program offering streamlined documentation and fixed low closing costs for fixed-rate loans. Check size: $1.5-$5MM LTV: Up to 75% as-is value Rate: Market spreads (180-220bps for full leverage) over SWAPS Term: 10 years Amortization: 30 years Non-Recourse: Limited to standard carve outs Property type: Industrial, Retail, Office, Hotel, Multifamily, Self-Storage, Net lease, & […]
CAPITAL STRUCTURE: PERMANENT LOAN Asset management firm providing balance sheet execution for core+ permanent loans Property Type: Student/Multifamily Housing, Self-Storage, Retail, Office, MHP’s and Hospitality Check size: $10 – $75MM Leverage: Up to 85% LTC / 75% LTV Rates: Spreads to Treasuries of 150 bps+ Term: Up to 15 years Amortization: Interest only Future Funding: Earn Outs for performance-based goals Uses: Acquisitions & […]
CAPITAL STRUCTURE: BRIDGE LOAN / PERMANENT LOAN Large international LifeCo providing low cost and flexible alternative to banks and domestic insurance company options. Property Type: Office, Mixed-Use, Self Storage, Flex, Industrial, Hotel, and Multifamily. Check size: $10 – $40MM Leverage: Up to 70% LTV on post COVID pricing. Lower for Retail and Hospitality. Rates: starting at 3.5% over LIBOR on floating […]
CAPITAL STRUCTURE: PERMANENT LOAN Investment advisor offering in house asset management, interest-only, non-recourse flexible loan structures Check size: $10MM-$50MM Term: 5-10 years+ LTV / LTC: Target <55% Pricing (“Interest”): Market Spread over UST; 30/360 Structure: Fixed Rate Origination Fee: Par + Processing fee Amortization: Max 30 years (IO Available sub-60%) Target Returns (DSCR/DY): Minimum 1.25x (target 1.5x+) / Min. 9% Recourse: Non-recourse Preferred Property […]
CAPITAL STRUCTURE: PERMANENT LOAN Permanent loans on all major commercial real estate property types throughout the United States. Check size: $10MM-$60MM Term: 5-30 years LTV : <65% of appraised value Structure: Fixed Rate Origination Fee: Par + Processing fee Pricing: Competitive spreads over US Treasuries Other features: Rate lock upon receipt of appropriate deposits Recourse: Non-recourse loans except for standard carve outs Preferred Property […]
CAPITAL STRUCTURE: CONSTRUCTION LOAN/ PERMANENT LOAN/BRIDGE LOAN Community bank offering flexible debt financing for all asset types. Check Size: $5-100MM+ LTC: Up to 80% LTV Up to 80% Amortization: Interest only (Up to 30 years) Target: Minimum DSC 1.20x Recourse: Flexible. Non-recourse available on select property types based on loan metrics Property Types: All property types with a focus on multifamily, industrial, retail, […]
