Loan Types & Amounts:
Permanent Financing for Acquisition, Refinance or Repositioning.

Small Loan Program: $1MM - $3MM
Large Loan Program: $3MM - $15MM

Eligible Property Locations:
Nationwide. Market areas with a stable current occupancy of competitive product. Rent concessions will be underwritten cautiously and typically require higher coverage and reserves.

Occupancy:
85% minimum occupancy

Debt Service Coverage:
1.25 x minimum

Loan-to-Value Ratio:
Maximum 80% LTV

Loan Term:
5, 7, 10 and 15 years

Amortization:
25 years or less depending on age, quality of construction and market location.

Pricing:
Pricing is based upon the quality of the real estate (A, B or C) project economics and borrower suitability. Spreads range from 150 -250 basis points over the corresponding U.S. Treasury.