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Conduit Retail Loans

CMBS loans for retail buildings

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Capital Markets Loans
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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.
  • Competitive rates and terms
  • Knowledge and expertise
  • Certainty of execution
  • Convenient electronic loan process
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CMBS Conduit Retail Building Loan Program Overview

Crefcoa provides commercial property loans for the acquisition or refinance of retail properties and shopping centers including: local or regional mall, grocery, big box, anchored, unanchored, shadow anchored, single and multi-tenant, and similar type properties.

 

Conduit retail commercial loans are provided for properties built post 1980, or older properties which have been renovated and have strong historical performance. Properties should have good visibility and access from major arterials, with strong demographic and sales trends.

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CMBS Conduit Retail Building Loan Program Guidelines

Eligible Properties Anchor retail: anchored by a major national retailer, department store, home improvement, grocery, drug, community centers, or discount retailer.

 

Shadow anchor: at least one anchor tenant that is not part of the collateral but close in proximity that provides a steady draw to the property. Tenant mix should complementary.

 

Unanchored retail: strong desirable locations preferred with strong complimentary tenant mix where space is readily convertible to new tenants.

 

Investment grade and non-investment grade single tenant properties.

Tenant Mix Tenant mix should be diverse yet complimentary. Major tenant lease terms must comply with the loans fixed term period. Properties with restaurants, fitness centers, dry cleaners and other similar business types may have underwriting restrictions.
Loan Size Loan sizes starting at $2 million.
Pricing
  • Tiered pricing based on LTV and DSCR.
  • Industry low spreads above comparable "on the run" Treasury rates.
  • Rate buy downs are available.
Locations Retail, shopping center, strip center and out parcel buildings located in mid to large market sectors and small market sectors with strong sponsorship.
Programs
  • 5, 7, and 10 year fixed rate terms (balloon at end of fixed term).
  • 25 and 30 year amortizations.
Prepayment Defeasance or yield maintenance.
Personal Guarantee Non-recourse subject to standard carveouts.
Minimum DSCR 1.25-1.35.
Loan-to-Value Maximum of 80%.
Impounds Taxes, insurance, tenant improvements, replacement reserves, 125% of cost for needed repairs.
Preliminary Submission Package for a Conduit Apartment Loan Include the following in your request for a conduit apartment loan quote:
  • Property description and location map.
  • Representative color photographs.
  • Current rent roll and year-to-date operating statement.
  • Operating history - prior 2 years, if available.
  • Current year operating budget.
  • Existing debt and cost basis.
  • Sponsor resume.
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Conduit Retail Commercial Loans - Commercial Property Loan Program Home Page
Conduit loans for retail properties are provided on commercial real estate property types located in the Continental United States. Minimum conduit retail commercial loan size is $2,000,000.
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