Loan Programs

• Property Type: Class "A", "B", and "C" suburban and central business district multi-tenant properties that have good location, occupancy, and maintenance.

• Loan Security: First fee mortgages encumbering completed projects along with customary assignments and pledges. Leaseholds considered on a case-by-case basis.

• Loan Amount: $500,000 to $35,000,000 per property.

• Term: Ten (10) Years.

• Amortization: Twenty-five (25) years, or five (5) years less than the remaining life as determined by the Appraisal and Property Condition Report.

• Maximum LTV: 80%

• Minimum DSCR: 1.25:1

• Recourse: Non-recourse, except for standard lender carve-outs, which require 100%.

• Assumption: Permitted with the payment of an Assumption Fee, typically 1% plus legal expenses, and with Lender's credit approval.

• Replacement Reserves: Typically, minimum of $0.10 to $0.25 per square foot annually, or as scheduled in the Property Condition Assessment Report. Monthly escrow is required.

• Subordinate Financing: Typically, not permitted. Lender will consider prior approval with fully subordinated, non-foreclosable cash flow only.

• Prepayment Penalty: Typically, one-half of the loan term requires a lockout followed by yield maintenance, or defeasance, to term. No penalty if prepaid during the final 3 - 6 months of term.

• Interest Rates: See the most current Pricing Matrix. Rate Buy-Downs are available

*Al l lending terms and conditions are subject to change.