Conduit Hotel Loans

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

Flagged and non-flagged hotel properties including full-service and limited service properties. Property should be in strong market sectors with strong historical performance. Strong sponsorship and management preferred.

Properties considered with locations in mid to large markets with tertiary markets considered on a deal by deal basis with strong sponsorship.

$3 million minimum with no maximum

Interest rates for CMBS hotel 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, flag, tenant strength)
• LTV, DSCR and debt yield

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

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

55%-75%

1.40-1.50 minimum

5 and 10 year fixed rate terms

25-30 year amortizations

7.5%-10.5%

Defeasance or yield maintenance

Non-recourse subject to standard carveouts

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

• Appraisal
• Phase One Environmental
• PCNA
• 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
• Most Recent STAR report
• Franchise agreement

Conduit hotel 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.