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Hotel Loan

CMBS Conduit Hotel Loan Program Guidelines

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Loan Size $5,000,000 to $500,000,000
Pricing . Depends on loan to value and DSCR.
. Flagged & Non-Flagged Hotel Properties.
Locations Naitonwide funding
Loan Term Up to 10 year fixed rate terms with balloon at end of term.
30 year amortizations.
Borrower Entity Single purpose entity
Loan-to-value Up to 75% of appraised value.
Prepayment Defeasance or yield maintenance.
Personal Guarantee Non-recourse subject to standard carveouts. Loans are assumable.
Minimum DSCR . Flagged Hotel Properties: 1.45.
. Non-Flagged Hotel Properties: 1.55.
Fees $15,000 - $25,000, due upon acceptance of letter of intent.
Third Party Reports Appraisal, Phase One, PCNA, ALTA Land Survey
Eligible Properties Flagged and non-flagged hotel including full-service and limited service. Property should be in strong market sectors with good historical performance. Experianced sponsorship and management preferred.
Preliminary Submission Package for a Conduit Hotel Loan Include the following in your request for a conduit apartment loan quote:
. Property description and location map.
. Representative color photographs.
. Current year operating budget.
. Current rent roll and year-to-date operating statement.
. Operating history - prior two years.
. Sponsor resume.
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