lending Matrix

PRIME & CMBS/CONDUIT

 PRIME MORTGAGESCMBS/CONDUIT
Loan Amount$2,000,000 to $200,000,000+$2,000,000 to $400,000,000+
Loan Term5, 7 and 10 Year5, 7 and 10 Year
Asset TypesMedical, mixed-use, office, retail, industrial, multifamily, hotel and other asset classes to be considered on a case-by-case basis.Medical, mixed-use, office, retail, industrial, multifamily, hotel, self storage and other asset classes to be considered on a case-by-case basis.
SecurityFirst Mortgage, Mezzanine, Equity and FF&E on a case by case basisFirst Mortgage
Borrower EntitySingle purpose entitySingle purpose entity
Loan-to-ValueUp to 80% 1st mortgage debt of appraised value. Higher leverage mezzanine transactions considered or equity on a case-by-case basis.Up to 75% 1st mortgage debt of appraised value. Higher leverage mezzanine transactions considered or equity on a case-by-case basis.
DSCR Requirement1.15x on LCF underwritten net cash flow.1.25x on Lender underwritten cash flow.
Amortization30 or 40 year amortization30 year amortization with periods of interest-only up to full loan term considered on a case-by-case basis
Interest RateStarting at 3.99% Fixed, ARM at 6mo LIBOR + 115 or SWAP RatesCompetitive Swap, Fixed, LIBOR and Treasury based Pricing
Origination Fee1% of the Loan AmountUp to 1% of the Loan Amount
Exit FeeNoneNone
TI/LC, CapEx and
Other Reserves
Ongoing TI / LC and CapEx reserves collected, with caps offered or reserves waived on a case-by-case basisOngoing TI / LC and CapEx reserves collected, with caps offered or reserves waived on a case-by-case basis
RecourseNon-recourse except for customary bad boy carve-outsNon-recourse except for customary bad boy carve-outs
Pre-Payment PenaltyShort lockout/yield maintenance period then no pre-payment penaltyDefeasance or yield maintenance, locked out for the earlier of (i) three years following the full funding of the Loan and (ii) two years after the securitization of the Loan

ALT-A & TIER 1 CONTSRUCTION-PERM

 ALT-PRIME MORTGAGESTIER-1 CONSTRUCTION-MINI-PERM
Loan Amount$1,500,000 to $200,000,000+$3,000,000 to $200,000,000+
Loan Term3, 5, 7 and 10 Year10 Year, inclusive of construction period
Asset TypesMedical, mixed-use, office, retail, industrial, multifamily, hotel, self storage and other asset classes to be considered on a case-by-case basis.Medical, mixed-use, office, retail, industrial, multifamily, hotel, self storage and other asset classes to be considered on a case-by-case basis.
SecurityFirst Mortgage, Mezzanine, Equity and FF&E on a case by case basisFirst Mortgage and equity is available, will also consider financing FF&E including medical equipment.
Borrower EntitySingle purpose entitySingle purpose entity
Loan-to-ValueUp to 85% 1st mortgage debt of appraised value. Higher leverage mezzanine transactions considered or equity on a case-by-case basis.Up to 85% LTC 1st mortgage debt. Higher leverage mezzanine transactions considered or equity on a case-by-case basis.
DSCR Requirement1.15x on LCF underwritten net cash flow.1.15x on LCF underwritten net cash flow.
AmortizationInterest onlyInterest only
Interest RateStarting at 4.625% Fixed, ARM at 6mo LIBOR + 215Starting at 3.99% Fixed, ARM at 6mo LIBOR + 215
Origination Fee2% of the Loan Amount2% of the Loan Amount
Exit FeeNone.5% conversion fee from construction to perm loan period due by borrower at C/O.
TI/LC, CapEx and
Other Reserves
Ongoing TI / LC and CapEx reserves collected, with caps offered or reserves waived on a case-by-case basisInterest reserves on a case-by-case basis, max LTV with IR's may not exceed 90% of AS COMPLETED VALUE, add .5% to origination if LTC exceeds 88%.
RecourseNon-recourse except for customary bad boy carve-outsNon-recourse except for customary bad boy carve-outs
Pre-Payment PenaltyShort lockout/yield maintenance period then no pre-payment penaltyShort lockout/yield maintenance period then no pre-payment penalty

BRIDGE & HARD MONEY MATRIX

 BRIDGE LENDINGHARD MONEY
Loan Amount$1,000,000 to $100,000,000+$1,000,000 to $50,000,000+
Loan Term1, 2 and 3 Year6, 12, 18 & 24 months
Asset TypesMedical, mixed-use, office, retail, industrial, multifamily, hotel, self storage and other asset classes to be considered on a case-by-case basis.Medical, mixed-use, office, retail, industrial, multifamily, hotel, self storage, land and other asset classes to be considered on a deal-by-deal basis.
SecurityFirst MortgageFirst Mortgage
Borrower EntitySingle purpose entitySingle purpose entity
Loan-to-ValueUp to 75% of appraised value. Max Land LTV 55% of appraised value with entitlements 35% Max LTV of land with no entitlements.Up to 65% of appraised value. Max Land LTV 55% of appraised value with entitlements 35% Max LTV of land with no entitlements.
DSCR RequirementTo be determined on a case-by-case basis. LTV lowered by 5% if underwritten net cash flow less than 1.15x DSCRNot required sset based loan
AmortizationInterest onlyInterest only
Interest Rate7.99% to 10.99% (Higher LTV and Lower DSCR effects rate, land only will be at 10.99% 10.99% - 18%
Origination Fee3% of the Loan Amount5% of the Loan Amount, 8% on land only.
Exit Fee.5% (Half of one percent)1%
TI/LC, CapEx and
Other Reserves
Reserves available on a case-by-case basisReserves available on a case-by-case basis however loan may not exceed Max LTV
RecourseNon-recourse except for customary bad boy carve-outsNon-recourse except for customary bad boy carve-outs
Pre-Payment Penalty1 year6 months

For more information contact us at 305-537-9660 or email us at info@alphadataroom.com