COMMERCIAL MORTGAGE-BACKED SECURITIES  (CMBS)

Albin Capitals offers CMBS financing for multifamily, office, retail, industrial, hotel and self-storage.

Albin Capitals’ CMBS expertise and experience has allowed us to build a loan platform for you with unique agility, flexibility and, above all, personalization.

 

Unique Albin Capitals multifamily CMBS advantages

  • Maximized leverage
  • Rapid execution
  • Personalized benefits of working with a true relationship lender
  • Flexible options, including bridge-to-permanent CMBS Loans, Mezzanine and Preferred Equity
  • LOAN AMOUNT                                                          $5,000,000 – $100,000,000
  • LOAN TERM                                                                10 years, 5 or 7 year term available in select instances.
  • AMORTIZATION                                                          25 year amortization for hotels; 30 year amortization for other property types with up to 10 years of interest-only available in select instances.
  • MINIMUM DSCR                                                         1.25x
  • MAXIMUM LTV                                                            Up to 70%-80% of appraised value depending on property characteristics.
  • INTEREST RATE                                                           Fixed rate throughout term and priced over corresponding swap rate.
  • ELIGIBLE PROPERTIES                                               Office, retail, industrial, hospitality, self-storage, mixed-use, manufactured housing communities and multifamily.
  • ELIGIBLE MARKETS                                                    All U.S, Dubai, Canada markets.
  • ELIGIBLE BORROWER                                                Special-purpose entity required.
  • RESERVES                                                                    Taxes, Insurance and Replacement Reserves typically required.
  • Tenant Improvement and Leasing Commissions typically required for commercial properties.
  • RECOURSE

    Non-recourse except industry-standard “bad act” carve-outs.

  • PREPAYMENT

    Typical 2 to 3 year lockout, defeasance or yield maintenance thereafter.

  • ASSUMABLE                                                                 Permitted subject to lender approval and an assumption fee.
  • SECURITY

    First-lien mortgage.

  • EXPENSE DEPOSIT                                                      $50,000 expense deposit – adequate to cover third-party reports, legal fees and other customary costs.
  • IN-PLACE SUBORDINATE DEBT
  • May be allowed in accordance with CMBS standards.

  • FUTURE SUBORDINATE DEBT

    May be allowed in accordance with CMBS standards.

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