Commercial Mortgage Lending Guidelines




Commercial Mortgage Lending Guidelines

Traditional Loans

Property Types
Office: Suburban and CBD, in Major Markets
Retail: Anchored Neighborhood, Community Centers and Regional Malls
Industrial: Bulk/Distribution
Apartments: Garden and Mid / High Rise
Hotels: Full service hotels in major markets (selectively)

Preferred Size
$10 Million to $200 Million (per single property); Over $200 Million (via Loan Trading Desk)

Term
Fixed Rate: 3 to 20 Years, up to 90 day free rate lock at application
Floating Rate: 1 to 10 Years, 30, 60, 90 Day LIBOR

Parameters
Leverage: Target 60% LTV or less
Low Leverage – Highly flexible terms and structuring

Forward Commitments
Up to 12 months

Structured Debt

Loan Types
Large Loan Participations, Secured Revolving Lines of Credit, Mezzanine Loans, Subscription Lines

Preferred Size
B-Notes: $10 Million to $50 Million (per property)
Mezz: $10 Million to $50 Million
Line of Credit: $50 Million to $300 Million

Terms
Fixed or Floating / Term to 10 years

Parameters
Leverage to 60% LTV
Transitional / Opportunistic or Stabilized
Focus on Core Property Types / Primary Markets
Will Consider Non-Traditional Property Types
Established / Experienced Sponsors

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