FINANCE COMMERCIAL REAL ESTATE WITH SL CAPITAL
CMBS Lending
SL Capital facilitates the underwriting, closing and sale of Fixed & Floating rate CMBS Loans. We service commercial mortgage brokers & borrowers from quote through close – anywhere in the United States.
- Non-Recourse CMBS Loans
- Average closing time within 30 days
- Up to 75% Loan-to-Value
- 5, 7 & 10 year Fixed Rate CMBS loans available
- Par pricing
- 30 year amortization schedule
- Finance various commercial property types including: Office, Retail, Hotel, Multi-family, Industrial, Self-Storage & Mobile Home Parks
- CMBS loan is assumable if property is ever sold
CMBS Loan Services
Around-the-clock service from SL Capital designed to help you navigate the CMBS Loan process.
- Accurate CMBS Loan pricing
- Prepare executable Term Sheets for Borrower to execute
- Produce required Borrower Documentation & Loan Application
- Participate in the CMBS Loan approval process
- Maintain regular contact with the Borrower between application and closing
- Inform Borrower of the status of the CMBS Loan Application and gather any additional information as needed
- Ensure timely deal closing and dispersement of funds
- Provide continued support to Borrower after closing
- Consult on future funding needs
Download CMBS Fixed & Floating Rate Program | CMBS Fixed Rate Lending Program | CMBS Floating Rate Lending Program |
|---|---|---|
| Eligible Locations | MSA's within the U.S. and its territories. | MSA's within the U.S. and its territories. |
| Property Types | Office, Retail, Industrial, Multi-Family, Hotel. Self-Storage, Mobile Home Parks & Student Housing. | High quality property types including Office, Retail, Industrial, Multi-Family and Hotel. Self-Storage and Mobile Home Parks to be considered on a case-by-case basis |
| Loan Amount | $3,000,000 to $250,000,000+ | $10,000,000 to $200,000,000+ |
| Loan Term | 5, 7 and 10-year loan terms | 3-year Initial Loan Term with Two 1-Year Extension Options |
| Amortization | 20 - 30 years. Interest Only period available | Typically 30 years (shorter terms may be required based on property type and use) |
| Loan To Value (LTV) | Up to 75% of FIRREA Appraised Value | Up to 80% of FIRREA Appraised Value |
| Debt Service Coverage Ratio (DSCR) | Minimum 1.25x DSCR on underwritten net cash flow. Mezzanine debt will be permitted up to a 1.10x DSCR | Minimum 1.25x DSCR on underwritten net cash flow. Mezzanine debt will be permitted up to a 1.05x DSCR |
| Origination Fee | None | 1-2% of Loan Amount |
| Processing Fee & Expense Deposit | $5,000 Processing Fee (may vary depending on transaction)Expense Deposit sufficient to cover third party, legal and out-of-pocket expenses | TBD |
| Reserves | Generally Tax, Insurance and Replacement Reserves required | Generally Tax, Insurance and Replacement Reserves required |
| Sponsor (Borrower) | Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth | Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth |
| Borrowing Entity | Single asset or special purpose entity required depending on loan size | Single asset or special purpose entity required depending on loan size |
| Recourse | Non-recourse, with the exception of industry standard "bad boy" carve outs | Non-recourse, with the exception of industry standard "bad boy" carve outs (potential partial recourse) |
| Assumability | Permitted | Permitted subject to lender approval and an assumption fee |
| Prepayment | Defeasance with 2-year lockout and 90 day open period during the 90 days prior to scheduled maturity date. Yield Maintenance available on a case-by-case basis | 2-year lockout followed by declining prepayment fees; open for six months prior to maturity |
| Mezzanine Financing | Permitted | Permitted |