Home > Real Estate Investors > Commercial Mortgage Loans

 

Commercial Mortgage Loans


From the initial clearing and application process through closing and servicing, interaction with NYL Real Estate is characterized by responsiveness, attention to detail, and dispatch.


Property Types


Loan Types

  • Permanent
  • Bridge
  • Senior Mezzanine - Partnership Equity
  • B Notes - Mortgage Lien


Interest Rates

  • Fixed and floating rates at competitive, market-based spreads over Treasuries or LIBOR.
  • Rate locked upon receipt of an executed application with appropriate deposits.


Term

  • Floating Rate: 2 - 7 years
  • Fixed Rate: 3 - 25 years


Loan Size

  • $5 million minimum; typically $10 million to $100 million.
  • Will coordinate and structure co-investment arrangements for loans with proceeds above $100 million.
  • NYL has also facilitated transactions as lead lender on deals up to $300 million in proceeds.


Parameters

  • Loan to Value: Up to 70%, higher for credit transactons.
  • Debt Coverage Ratio: Minimum of 1.30X or greater once stabilized.


Typical Timing

  • Transactions cleared for Commitment and rate lock in a quick and efficient manner.
  • Typical Commitment to Closing: 45-90 days.


Liability

  • Non-recourse to borrower except for standard carve outs.
  • Recourse for the carve outs to be provided by an acceptable enity.


Deposits

  • Typically 2% to 3% refundable deposit required to lock rate.
  • Non-refundable processing payment required for third party consultant reports.


Consultant Reports

  • Appraisal
  • Property Condition
  • Environmental