See our first-lien permanent mortgage loan financing options for the acquisition or refinance of conventional multifamily properties.
- Flexible loan terms
- Competitive pricing
- Certainty of execution
- Speed in processing and underwriting
- 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.
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.