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Conduit Apartment Loans

 CMBS Loans For Apartment Buildings

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Conduit CMBS  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.
  • Certainty of execution
  • Knowledgeable and experienced
  • Low fixed rate terms
  • Non-recourse
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A Better Way To Get a Conduit CMBS Apartment Loan

Crefcoa provides conduit CMBS apartment loans through our proprietary online commercial real estate lending platform (CRELP). Through CRELP we are changing the way owners and investors obtain CMBS loans for multifamily properties. Unlock the full potential of your multifamily investment with a CMBS conduit multifamily loan that meets your individual needs and investment objectives with the most competitive rate and terms.

 

Crefcoa provides financing for apartment and multifamily properties through several platforms, Fannie Mae Multifamily and Freddie Mac Multifamily (agencies) being the predominant platforms. Fannie and Freddie offer low rate, high leverage, interest only options with non-recourse provisions. But not every borrower or property is eligible for financing through Fannie or Freddie.

 

For borrowers looking for a non-agency option, conduit CMBS apartment loans are a great alternative. Like the agencies, CMBS loans are non-recourse, have interest only options, offer attractive rates and typically have no restrictions on cash out refinances.

 

Request a CMBS quote for your multifamily property, or visit the multifamily loan center to learn more about all of our apartment loan programs.

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Conduit CMBS Apartment Loan Program Guidelines

The CMBS Loan Advantage
Eligible Properties Conduit loans for apartment buildings and multifamily housing properties with 5 plus units located in small, mid and large markets nationwide.
Borrowing Entity Requirements Bankruptcy-Remote SPE (special purpose entity). Entities may be corporations, limited liability companies or limited partnerships
Loan Size $3 million minimum with no maximum
CMBS Apartment Loan Interest Rates   Interest rates for CMBS apartment loans are based on an index (5 or 10-year Swap) plus a spread. Where the interest rate falls in the spread range depends on:
  • Loan size
  • Property (e.g. quality, location, tenant strength, lease terms)
  • LTV, DSCR and debt yield

 

View indicative interest rates for CMBS loans and conduit loan interest rates

 

Loan-to-Value Up to 75%
Minimum DSCR 1.25-1.35 minimum
Fixed Terms 5 and 10-year fixed rate terms
Amortization 25-30-year amortizations
Minimum Debt Yield 7%-9%
Prepayment Defeasance or yield maintenance
Personal Guarantee Non-recourse subject to standard carveouts
Fees $15,500 - $30,500, due upon acceptance of LOI
Rate Lock At commitment
Occupancy Requirements No less than 90% for 90 days preceding closing
Title Requirements Title to be ordered by lender at borrower's cost
Appraisal Requirements Appraisal to be ordered by lender at borrower's cost, no exceptions
Impounds Taxes, insurance, tenant improvements, replacement reserves, 125% of cost for needed repairs.
Preliminary Submission Package for a Conduit Multifamily Loan   Include the following in your request for a conduit CMBS apartment loan quote:
  • Property description
  • Representative color photographs or property website
  • Current rent roll
  • YTD and two prior years income and expense statements
  • 12 month trailing income and expense statement
  • 12 month operating budget
  • Capital improvements summary
  • Sponsor resume outlining experience owning and operating multifamily properties
  • Management company bio
  Conduit apartment 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 CMBS loans for apartment buildings may not be available in all locations. Eligible property types, loan programs and program guidelines (including, without limit, minimum loan size, LTV, rates and terms) are subject to change without notice and may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Information provided is not an offer to make a loan and should be used for informational purposes only.

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