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Capital Markets Loan Center

We make capital and secondary market financing accessible while providing certainty of execution.

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Capital Markets Loans
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Provide some basic information about the property and commercial financing you’re seeking and we will provide a no cost no obligation quote.
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Why Choose Crefcoa
Why Choose
Crefcoa's Capital Markets Conduit Lending Group has the experience and capital markets relationships necessary to properly structure your commercial real estate loan to ensure successful execution at the lowest fixed rates and costs in the market.
  • No point options
  • No up-front fees
  • No securitization fees
  • No investment bank fees
  • Low commitment deposits
  • In-house processing
  • Interest only payment option
  • Non-recourse
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Multifamily Loan for Life™
Multifamily Loan for Life
With fixed interest rates up to 30 years, Crefcoa's Multifamily Loan for Life eliminates interest rate risk preserving the integrity of your investment.
  • Fixed rates up to 30 years
  • No balloon payments
  • No interest rate resets / adjustments
  • Non-recourse
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Crefcoa Capital Markets Conduit Lending Group

With secondary market commercial real estate mortgage experience spanning over two decades, Crefcoa's Capital Markets Conduit Lending Group has the experience and capital markets relationships necessary to properly structure your commercial real estate loan to ensure successful execution at the lowest fixed rates and costs in the market.

Through its Capital Markets platform, Crefcoa provides commercial mortgages for commercial real estate properties located in primary, secondary and tertiary markets in all 50 states.

With a focus on originating small and mid-balance debt ($2MM - $50MM), Crefcoa provides access to the capital and secondary markets to borrowers without an investment banking relationship, or that may have been passed over by the larger conduits or investment banks due to loan size, breadth of portfolio or financial capacity.

  • Certainty of rate, term, cost and execution.
  • Experienced, knowledgeable commercial mortgage banking team.
  • Capital sources include, commercial and investment banks, insurance companies, pension funds, REITs and other commercial real estate institutional investors.
  • Primary, secondary and tertiary markets. Single and multi asset owner eligibility.
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CMBS Property Types

Property Types

Through its Capital Markets platform, Crefcoa provides commercial real estate debt and equity for most income producing asset classes across all levels of the capital stack.
  • Multifamily
  • Healthcare
  • Affordable Housing
  • Mobile Home
  • Hotel
  • Office
  • Retail
  • Industrial
  • Medical
  • Self Storage
CMBS Advantages

Capital Relationships

Crefcoa provides its borrowers unmatched access to the capital and secondary markets through a mix of long standing relationships with the most aggressive, stable and well capitalized institutional investors.
  • Conduit Lenders (CMBS)
  • Investment Banks
  • Commercial Banks
  • Insurance Companies
  • REITs
  • Agencies
  • Private Equity
  • Pension Funds
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CMBS Conduit Loan Program Overview

Crefcoa's CMBS (Commercial Mortgage Backed Securities) Conduit Loan program provides low permanent fixed rate commercial real estate loans for the acquisition or refinance of stabilized, income producing commercial real estate properties located in most market sectors, including small and medium markets for commercial mortgages up to $50 million.

 

Conduit loans offer borrowers low fixed rate commercial financing. Interest rates are based on the comparable "on the run" Treasury rates plus a spread. Spreads vary among asset class, location, loan size, overall credit risk and secondary market investor risk premiums. Conduit loans are non-recourse with no personal guarantees required, except for standard carveouts for borrower fraud and other illegal behaviors (commonly referred to as bad boy behaviors).

 

Conduit Loan General Terms

  • $2 million minimum loan size
  • Up to 80% LTV
  • Fixed rate terms up to 10 years
  • DSCR and debt yield minimum requirements
  • 25 and 30 year amortizations
  • Interest only payment options
  • Non-recourse (no personal guarantee)
  • Defeasance or yield maintenance prepay
  • Up to 30 year amortizations
  • Mezzanine financing available
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Mezzanine Financing

Crefcoa provides mezzanine financing for commercial real estate for the acquisition, refinance or repositioning of qualified assets and sponsors in primary and major secondary markets.
  • Up to 90% leverage
  • Term coterminous with senior loan
  • Non-recourse
  • Typically interest only

Bridge Loans

Short term or bridge apartment loans are available for the renovation or repositioning of multifamily properties. Program can also be used for stabilized properties requiring a quick close or waiting for a permanent close.
  • $5 million minimum
  • Strong experienced sponsorship req.
  • Up to 80% loan-to-cost
  • Floating rate over LIBOR
Contact a Crefcoa Capital Markets mortgage banker to learn more about mezzanine debt.
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Conduit Loans - What You Need To Know

What is a conduit Loan?

A conduit loan - also known as a CMBS loan (Commercial Mortgage Backed Security) - is a type of commercial mortgage that is packaged into a pool with other similar type commercial loans and securitized and sold in the secondary market to institutional investors... learn more.

 

Are conduit loans non-recourse?

Yes. Conduit loans require no personal guarantees. However, the key principals of the borrowing entity will be required to personally guarantee the exceptions to non-recourse (standard carveouts).

 

Since a conduit loan is non-recourse, do I still need to be qualified personally?

Yes. The key principals of the borrowing entity need to meet minimum credit and financial capacity requirements.

 

What is defeasance?

Defeasance is technically not a prepayment penalty. It refers to a process where there is a substitution of collateral (U.S. government securities) that is sufficient to make all of the remaining loan payments. The securities are pledged to the lender and the lender releases the lien on the property.

 

What is yield maintenance?

Yield maintenance is a type of prepayment premium or penalty which allows the lender to earn their original yield (interest payments) without suffering any loss should the loan be prepaid prior to the end of the term of the loan. To calculate a yield maintenance premium, take the present value of remaining loan payments multiplied by the difference between the loan interest rate and the rate on a Treasury note of the same duration, or use our yield maintenance calculator.

 

What does CMBS stand for?

CMBS stands for Commercial Mortgage Backed Security. Conduit loans are pooled and securitized with the underlying mortgages serving as collateral for the mortgage backed securities.

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Commercial real estate loan program availability may vary depending on property type, state, population, economic conditions, exposure, and other variables that may negatively influence risk. Program rates, terms, and conditions are subject to change without notice.

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