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Conduit Loans
Quick Links |
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Conduit
Warehouse Loans |
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Conduit Warehouse
Loan and Industrial
Loan Program
Overview
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CommercialBanc
provides commercial
property loans for
warehouse and
industrial
properties for
single tenant and
multi-tenant
properties in strong
and medium market
sectors. |
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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. |
Conduit Warehouse
Loan and Industrial
Loan Guidelines
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Eligible Properties |
Warehouse, light industrial, mixed, storage, packaging,
research, manufacturing, and other similarly
zoned property types. |
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Pricing |
Tiered
pricing based on LTV and DSCR
115-185 BPS above comparable "on the run" Treasury rates.
Rate buy downs are available |
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Location |
Located in
mid to large market sectors and small market sectors
with strong sponsorship. |
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Programs |
5, 7, 10,
and 20 fixed rate terms. |
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Amortization |
25 and 30 years |
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Personal Guarantees |
Non-recourse with standard carveouts. |
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Fees |
Fixed at
$9,500 - $18,500, due at registration
Property condition report required based on asset
condition/quality. |
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Loan-to-Value |
75% -
85% LTV
for purchases, rate and term refinance, and cash out
refinances depending on property quality. |
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Rate Lock |
30-day
forward lock available with U/W approval
2% commitment deposit credited at closing. |
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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. |
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NOI Analysis |
3 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. |
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Impounds |
Taxes,
insurance, tenant improvements, replacement reserves,
125% for needed repairs. |
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Preliminary Submission
Package For a Conduit Warehouse Loan or Industrial
Property Loan: |
Include the following in your request for a
conduit warehouse 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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