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Conduit Loans
Quick Links |
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CommercialBanc
Conduit Hotel Loan
Program
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CommercialBanc
provides permanent
fixed rate hotel financing
for the acquisition
or refinancing of
stabilized hotel and
motel properties,
including flagged
and non-flagged
designations, and
full-service or
limited service
properties. |
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For flagged Hotel
properties with
strong historical
performance and
sponsorship,
CommercialBanc's
Conduit Hotel Loan
Program offers
market low fixed
rates, starting at
120 BPS above the
comparable "on the
run" Treasury rates,
and high leverage up
to 75% LTV. |
CommercialBanc
Conduit Hotel Loan Guidelines
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Eligible Properties |
Flagged and
non-flagged hotel properties including
full-service and limited service properties. Property
should be in strong market sectors with strong
historical performance. Strong sponsorship and
management preferred. |
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Minimum Loan Size |
$1 million |
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Pricing |
Tiered
pricing based on LTV and DSCR
Flagged Hotel Properties: 110-180 above comparable "on
the run" Treasury rates.
75% Maximum LTV
Non-Flagged Hotel Properties: 120-240 above comparable
"on the run" Treasury rates.
70% Maximum LTV |
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Location |
Located in
mid to large market sectors and small market sectors
with strong sponsorship. |
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Loan Terms |
5-20 year
fixed terms with 25-30 year amortizations. |
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Prepayment |
Defeasance or Yield Maintenance |
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Personal Guarantees |
Non-recourse with standard carveouts |
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Minimum DSC |
Flagged
Hotel Properties: 1.40
Non-Flagged Hotel Properties: 1.50 |
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Third Party Reports |
Appraisal
Phase One Environmental
Property Inspection
ALTA Land Survey |
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Preliminary Submission
Package For a Conduit Hotel Loan: |
Include the following in your request for a
conduit self storage loan quote:
1. Property description and location map
2. Representative color photographs
3. Current rent roll and year-to-date operating statement
4. Operating history - prior 3 years, if available
5. Current year operating budget
6. Existing debt and cost basis
7. Sponsor resume |
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