<\/p>\n
Property Age:<\/strong> Loan Limits:<\/strong> Occupancy Requirements:<\/strong> Borrowing Entity:<\/strong> Loan Term:<\/strong> Rates:<\/strong> Fees:<\/strong> Guarantees:<\/strong> Assumable:<\/strong> Reserves:<\/strong> Prepayment:<\/strong> Use of Proceeds:<\/strong> Eligible Property Types: Retail Strip Shopping Centers – Anchored – Unanchored and Single Tenant Buildings Considered. Property Age: Facilities should have been completed and in operation for at least 12 months. Properties built or substantially renovated since 1975 are preferred. Loan Limits: The loan-to-value ratio may not exceed 80%. The minimum debt service coverage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3593","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/pages\/3593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/comments?post=3593"}],"version-history":[{"count":0,"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/pages\/3593\/revisions"}],"wp:attachment":[{"href":"https:\/\/commercial-financing-real-estate.com\/blog\/wp-json\/wp\/v2\/media?parent=3593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nFacilities should have been completed and in operation for at least 12 months. Properties built or substantially renovated since 1975 are preferred.<\/p>\n
\nThe loan-to-value ratio may not exceed 80%. The minimum debt service coverage ratio is 1.2.<\/p>\n
\nThe center should be substantially leased to a stabilized level.<\/p>\n
\nGenerally, a single purpose entity is required<\/p>\n
\n5, 7, or 10 year terms are available at the borrower’s option. Amortization is on a 15-30 year term.<\/p>\n
\nThe interest rate is set at a fixed spread over comparable term treasuries, and varies based on coverage ratios. Floating rates are also available. Please call for current rate and spread quotes.<\/p>\n
\nThe borrower is responsible for all closing costs and required reports (appraisals, engineering and environmental reports, surveys, etc.).<\/p>\n
\nThe loans are generally non-recourse except for standard carve-outs.<\/p>\n
\nYes, with consent and a 1% assumption fee.<\/p>\n
\nTax and insurance reserves are required. Also, a capital replacement and releasing cost reserve will be established.<\/p>\n
\nPrepayment will be prohibited for a portion of the term and then will be subject to defeasance or yield maintenance until the final six months, during which prepayment is allowed without penalty.<\/p>\n
\nLoans are available for both purchase and refinance transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"