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Senior Lending

Interest Rates
  • Fixed and floating rates at competitive, market-based spreads over Treasuries or LIBOR.
  • Rate locked upon receipt of an executed application with appropriate deposits.
Term
  • Floating Rate: up to 5 years
  • Fixed Rate: 3 - 30 years
Loan Size
  • Typically $10 million to $300 million. Larger for low leverage portfolios.
  • Will coordinate and structure co-investment arrangements for loans with higher proceeds.
Parameters
  • Loan to Value: Up to 75% for mortgages, higher for credit transactions.
  • Debt Coverage Ratio: Minimum of 1.30X or greater once stabilized.
  • High grade mezzanine debt may have less restrictive underwriting parameters.
Typical Timing
  • Transactions cleared for commitment and rate lock in a quick and efficient manner.
  • Typical commitment to closing: 30-90 days.
Liability
  • Non-recourse to borrower except for standard carve outs.
  • Recourse for the carve outs to be provided by an acceptable entity.
Deposits
  • Typically 2% to 3% refundable deposit required to lock rate.
  • Non-refundable processing payment required for third party consultant reports.
Consultant Reports
  • Appraisal
  • Property Condition
  • Environmental
  • Seismic, as applicable

*These guidelines are representative and not an offer.