This major lender used to focus solely on CMBS lending but they recently informed us that they’re lending off of their balance sheet for two new programs.
They’re offering competitive rates on perm financing and bridge financing across the country. While they love multifamily apartment complexes they’ll look at any and all property types except hotels and specialty health care facilities.
While most CRE lenders are lending off of securitized funds this group is lending off of their own balance sheet which means a FAST APPROVAL PROCESS.
They’re looking for deals that meet the following criteria:
Perm Financing:
- Deal Size:
- $10M – 50M
- Up to 75% LTV
- Minimum $1M deposit
- Rate
- 3.25%-3.75%
- Term
- 10 year fixed
- Negotiable recourse options
- Geographics
- Primary and secondary markets nationwide
- Flexible pre-pay
- Property types
- All types except hotels and specialty health care
Bridge Program:
- Deal Size
- $10M – $200M
- Up to 75% LTV
- Term
- 3-year term with extensions
- Rate
- L+175 – L+250
- 1 point origination fee
- 6-month minimum interest
- Geographics
- Major coastal markets
- Property types
- All types except hotels and specialty health care
