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Apartment Loan
Quick Links
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Banc-Series
Apartment Program
Property
Classifications |
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CommercialBanc's
Banc-Series
Apartment Program
will accept
buildings that are
classified as A,
B, and C as long
as acceptable to
Lender in both
physical condition
and market
attributes. The
building
classifications are
as follow and may
vary from market to
market: |
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Generally,
garden product built
within the last 10
years
High-rise
product in select
Central Business
District may be over
20 years old
Commands rents
within the range of
Class A rents in
the submarket
Well
merchandised with
landscaping,
attractive rental
office and/or club
building
High-end
exterior and
interior amenities
as dictated by other
Class A products
in the market
High quality
construction with
highest quality
materials
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Generally,
product built within
the last 20 years
Exterior and
interior amenity
package is dated and
less than what is
offered by
properties in the
high end of the
market
Good quality
construction with
little deferred
maintenance
Commands rents
within the range of
Class B rents in
the submarket
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Generally,
product built within
the last 30 years
Limited, dated
exterior and
interior amenity
package
Improvements
show some age and
deferred maintenance
Commands rents
below Class B
rents in submarket
Majority of
appliances are
original
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Generally,
product over 30
years old, worn
properties,
operationally more
transient, situated
in fringe or
mediocre locations
Shorter
remaining economic
lives for the system
components
No amenity
package offered
Marginal
construction quality
and condition
Lower side of
the market unit rent
range, coupled with
intensive use of the
property (turnover
and density of use)
combine to constrain
budget for
operations
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