Loans for GSA Tenanted Properties

Insurance Company #1

Loan Amount: $2-20mm (loan size is per property)

Terms: 5-25 years

Amortizations: 10-30 years

Loan to Value, CTL Structure: Up to 95% if loan term & amortization match up with lease term

Loan to Value, non CTL Structure: up to 80%

Geographic Focus: National

Rates, CTL Structure: Fixed rates currently high 4's to mid 5's: Five year fixed rate would be on the lower end of the spectrum, Fifteen to twenty-five year fixed rate would be on the higher end of the spectrum.

Rates, non CTL Structure: Fixed rates currently low 5's to low 6's: Five year fixed rate would be on the lower end of the spectrum, Fifteen to twenty-five year fixed rate would be on the higher end of the spectrum.

Lender prefers credit tenant lease (CTL) structure where loan fully amortizes during the firm term of the net lease. They will consider a loan that amortizes down to approximately $50 per SF during the lease term for an office property or $20 per SF during the lease term for an industrial property. These residual levels are "ballpark" figures since they will be highly subject to location, condition & functionality of the individual property.

---

Insurance Company #2

Loan Size: $20-100mm+ (loan size is per property)

Terms: 5-15 years

Amortizations: 10-30 years

Loan to Value, CTL Structure: Up to 95% if loan term & amortization match up with lease term

Loan to Value, non CTL Structure: up to 65%

Geographic Focus: National

Rates, CTL Structure: Fixed rates currently high 4's to high 5's: Five year fixed rate would be on the lower end of the spectrum, ten to fifteen year fixed rate would be on the higher end of the spectrum.

Rates, non CTL Structure: Fixed rates currently low 5's to low 6's: Five year fixed rate would be on the lower end of the spectrum, Fifteen to twenty-five year fixed rate would be on the higher end of the spectrum.

Lender prefers credit tenant lease (CTL) structure where loan fully amortizes during the firm term of the net lease. They will consider a loan with an amortization longer than the firm term lease but it will depend on location, condition & functionality of the property.


« Back to Lending Programs List