Lending Sources

• Life Insurance Companies
• Banks (Including Inland Bank)
• Conduits
• High Leverage Private Placements

Loan Amount

$750,000 and up (typically $2 million to $50 million)

Loan Term

3, 5, 7, and 10 through 25 years (short-term, floating-rate transactions also available)

Amortization

Amortization up to 30 years is available, depending on LTV and property type. Fully amortizing transactions are also available, i.e. 20-year term/ 20-year amortization.

Also, in some special cases, interest-only is available.

Property Types

(Most types of income-producing properties)

• Multifamily
• Market Rate
• Affordable
• Mixed- use
• Credit Retail
• Office
• Industrial
• Self Storage
• Mobile Home Parks
• Hotels
• Nursing Homes
• Senior Housing
• Parking Garages

Recourse

Typically, transactions are non-recourse, with the exception of indemnity for environmental matters and fraud, ect. Unless owner-occupied or, in some cases, single tenant buildings (non-credit)—part of up to 100% recourse may apply.

Assumability

Loans are generally assumable with lender’s approval and a 1% fee or lesser amount if complete in a specified time frame.

Loan-To-Value

Typically LTV is 65-75% with up to 80% LTV for property types (i.e., apartments and credit retail).

Alternatives:

• Credit bond leases: up to 100% LTV

Prepayment Penalty

Typically, the prepayment penalty is yield maintenance with other options available.

Generally, Inland Commercial Mortgage Corporation requires two to three years of historical operating statements and a current rent roll to size transaction.