Conventional Properties

• Existing, stabilized conventional properties.
• Properties with a minimum of five units.
• Credit-worthy single-asset U.S. borrower with U.S. ownership.
• Borrowers may have indirect foreign ownership interests, subject to proper structuring of the borrowing entity and its parent.

5 – 30 years.

Up to 30 years.

Fixed- and variable-rate options available.

80%.

1.25x.

Properties must have stabilized occupancy (typically 90%) for 90 days prior to funding. Loan commitments for pre-stabilized properties will be considered on a case-by-case basis.

Supplemental Loans are available.

Loans may be voluntarily prepaid upon payment of yield maintenance for fixed-rate loans and declining prepayment premium for variable-rate loans.

30- to 180-day commitments. Borrowers may lock the rate with Streamlined Rate Lock option.

30/360 and Actual/360.

Non-recourse execution is available for most loans greater than $750,000. Standard carve-outs required for “bad acts” such as fraud and bankruptcy.

Replacement reserve, tax, and insurance escrows are typically required.

Standard third-party reports required, including Appraisal, Phase I Environmental Site Assessment, and Property Condition Assessment.

Loans are typically assumable, subject to review and approval of the proposed new borrower’s financial capacity and experience.