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Conduit Warehouse Loans

CMBS loans for warehouse properties

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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 Warehouse Building Loan Program Overview

Crefcoa provides conduit loans for warehouse and industrial properties for single tenant and multi-tenant properties in strong and medium market sectors.

 

Acceptable properties may be used for manufacturing, research and development, storage, and assembly with property quality grade of B or better. Properties should be located in industrial park developments with good access to major highways and thoroughfares.

 

Crefcoa offers non-conduit industrial property loans and warehouse loans through its traditional commercial mortgage program. For industrial commercial loans under $2 million, please visit the Small Balance Plus program page for more information.

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CMBS Conduit Warehouse Loan Program Guidelines

Eligible Properties Warehouse, light industrial, mixed, storage, packaging, research, manufacturing, and other similarly zoned property types.
Loan Size Minimum loan size $2,000,000.

Warehouse loan and industrial loan sizes under $2,000,000 are available under the small balance commercial loan program.

Pricing Tiered pricing based on LTV and DSCR.

180 BPS above comparable "on the run" Treasury rates.
Rate buy downs are available.

Locations Major markets preferred. Secondary and tertiary markets considered on a deal by deal basis assuming strong asset quality and 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%.
Rate Lock At commitment. 30-day forward lock available with U/W approval.
Occupancy Requirements Stabilized properties where tenant mix should be of strong quality as determined by stability of business and financial condition. Prefer rent roll with staggered expirations. Leases should be representative of the market.
NOI Analysis Three years of operating statements are required with preference towards triple net leases. Lease expiration should be smooth with annual lease expirations in any given year to not fall below a 1.0x DSCR.
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.
  Conduit warehouse and industrial loan program underwriting guidelines are provided for informational purposes only and do not constitute, or should not be interpreted, to be an offer to make a loan, a loan approval, or any other language that implies that by meeting these basic requirements Crefcoa will provide borrower with a loan under these terms.
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Conduit loans for warehouse and industrial properties  are provided on commercial real estate property types located in the Continental United States. Minimum conduit warehouse loan and industrial loan size is $2,000,000.
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