We will be at MBA CREF '24 next week

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The loan program below shows the metrics and terms of one of our life insurance company correspondent lenders:

Preferred Loan Size:

$5-$40 million (portfolio to $100M)

Loan Term:

5-25 years
Self-amortizing up to 25 years

Debt Service Coverage:

1.30x minimum
1.10x on CTL-type transactions

Amortization:

25 years or less
30 years or less on multifamily.
IO on low LTV transactions

Preferred Maximum LTV:

65% or less
70% or less for multifamily.
75% for CTL execution

Geographic Preferences:

United States and Major Canadian Metros

Preferred Property Types:

Industrial (multi/single-tenant)
Multifamily (including student housing and age-restricted)
Retail (grocery-anchored)
Single-credit tenant loans
Medical office buildings
Low-leverage multi-tenant office
Other property types are considered on a case-by-case basis

Prepayment Options:

Fixed declining (3%, 2%, 1%, etc.)
Annual prepayment of 5 to 10%
Open periods and other options are priced upon request
Standard is yield maintenance with the last 90 days open

Forwards:

Six months maximum from the date of circle.