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.
- Office Buildings (CBD and Suburban)
- Industrial/Warehouse (Bulk/Distribution)
- Regional and Community Shopping Centers
- Credit Lease Transactions
- Senior Mezzanine - Partnership Equity
- B Notes - Mortgage Lien
- Fixed and floating rates at competitive, market-based spreads over Treasuries or LIBOR.
- Rate locked upon receipt of an executed application with appropriate deposits.
- Floating Rate: 2 - 7 years
- Fixed Rate: 3 - 25 years
- $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.
- Loan to Value: Up to 70%, higher for credit transactons.
- Debt Coverage Ratio: Minimum of 1.30X or greater once stabilized.
- Transactions cleared for Commitment and rate lock in a quick and efficient manner.
- Typical Commitment to Closing: 45-90 days.
- Non-recourse to borrower except for standard carve outs.
- Recourse for the carve outs to be provided by an acceptable enity.
- Typically 2% to 3% refundable deposit required to lock rate.
- Non-refundable processing payment required for third party consultant reports.
- Property Condition