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Eligible Properties: Standard and Medical Office
Buildings
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Loan
Sizes: $1million +
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Programs: Fixed Rate: 5, 7 and 10-year terms with
maximum 30 years amortization. Interest only periods
available.
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Floating Rates: 2 to 5-year terms interest only
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Loan
Pricing: Fixed Rate: Fixed over corresponding
Treasury
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Floating Rate: Based on spread over LIBOR
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Minimum DSCR: 1.25 (Can go lower for high-quality
properties.)
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Maximum Loan to Value: 70%
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Recourse: Non-recourse with standard carve-outs.
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Prepayment: Fixed-rate: Defeasance or Yield
Maintenance.
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Floating-rate: Lockouts ranges from 0-36 months.
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Loan
Fees: $10,000 - $15,000 to cover lenders loan
processing and closing costs. Unused portion generally
refunded to borrower.
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Origination Fee: Typically 1% of Loan Amount
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Closing Costs: Borrower is required to pay all
third-party due diligence and closing costs.
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Third
Party Reports: Phase I, Property Condition Report,
Seismic (as applicable), MAI Appraisal.
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Impounds: May be required for taxes, insurance,
replacement reserves, tenant improvements and leasing
commissions.
