Hotel Loan

CMBS Conduit Hotel Loan Program Guidelines

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.