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For general and specific inquiries, complete our On-Line Form
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 Property Type: |
Class "A", "B", and "C" suburban and central
business district multi-tenant properties that have good location, occupancy,
and maintenance. |
| Loan Security: |
First fee mortgages encumbering completed projects along with customary
assignments and pledges. Leaseholds considered on a case-by-case basis. |
| Loan Amount: |
$500,000 to $35,000,000 per property. |
| Term: |
Ten (10) Years. |
| Amortization: |
Twenty-five (25) years, or five (5) years less than the remaining life as
determined by the Appraisal and Property Condition Report. |
| Maximum LTV: |
80% |
| Minimum DSCR: |
1.25:1 |
| Recourse: |
Non-recourse, except for standard lender carve-outs, which require 100%.
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| Assumption: |
Permitted with the payment of an Assumption Fee, typically 1% plus legal
expenses, and with Lender's credit approval. |
| Replacement Reserves: |
Typically, minimum of $0.10 to $0.25 per square foot annually, or as
scheduled in the Property Condition Assessment Report. Monthly escrow is
required. |
| Subordinate Financing: |
Typically, not permitted. Lender will consider prior approval with fully
subordinated, non-foreclosable cash flow only. |
| Prepayment Penalty: |
Typically, one-half of the loan term requires a lockout followed by yield
maintenance, or defeasance, to term. No penalty if prepaid during the final 3 -
6 months of term. |
| Interest Rates: |
See the most current Pricing Matrix. Rate Buy-Downs are available. |
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ALL terms are subject to change.
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