Conduit Office Building Loans

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

Stabilized CBD and suburban single, multi, and credit tenant office properties. High-rise, low-rise, and office condo property structures permitted.

Office properties should be Class B or better.

For single tenant or anchor tenant properties, lease terms should extend past the fixed term of loan.

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

$3 million minimum

Interest rates for CMBS office building 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, tenant strength, lease terms)
• LTV, DSCR and debt yield

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

Office buildings located in mid to large market sectors and small market sectors with strong sponsorship.

Up to 75%

1.30-1.50 minimum

5 and 10-year fixed rate terms

25-30-year amortizations

8%-10%

85% with staggered lease expirations. For single tenant properties lease term must exceed loan term.

Defeasance or yield maintenance

Non-recourse subject to standard carveouts

At commitment

Taxes, insurance, tenant improvements, replacement reserves, 125% of cost for needed repairs.

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