Conduit CMBS Mobile Home Park Loans

• 30-year amortization
• Up to 10-yr fixed rates
• Up to 75% leverage
• No restrictions on cash out refinances
• Non-recourse

Average to above-average mobile home park and manufactured housing properties (three-star or better) with a minimum of 50 pads or sites. Maximum of 25% recreational vehicle use. 75% or greater tenant owned homes required.

Bankruptcy-Remote SPE (special purpose entity). Entities may be corporations, limited liability companies or limited partnerships.

$3 million minimum with no maximum

Interest rates for CMBS mobile home park loans are based on an index (5 or 10-year Swap) plus a spread. Where the interest rate falls in the spread range depends on:

• Loan size
• Property (e.g. quality, location, amenity package)
• LTV, DSCR and debt yield

View indicative interest rates for CMBS loans and conduit loan interest rates

Up to 75%

1.30 minimum

5 and 10-year fixed rate terms

25-30-year amortizations

8%-10%

Defeasance or yield maintenance

Non-recourse subject to standard carveouts

$15,500 - $30,500, due upon acceptance of LOI

85% minimum physical occupancy required

• Appraisal
• Phase one environmental
• Property inspection
• ALTA land survey

Include the following in your request for a conduit CMBS self storage facility loan quote:

• Property description
• Representative color photographs or property website
• Current rent roll
• YTD and two prior years income and expense statements
• 12 month trailing income and expense statement
• 12 month operating budget
• Capital improvements summary
• Sponsor resume outlining experience owning and operating commercial real estate
• Management company bio

Conduit CMBS mobile home park loan program underwriting guidelines are provided for informational purposes only and do not constitute, or should not be interpreted, to be an offer to make a loan, a loan approval, or any other language that implies that by meeting these basic requirements Crefcoa will provide borrower with a loan under these terms.