General Loan Terms

Rates and Terms vary on a case-by-case basis, but here is a general outline of the products we offer.

This is just a sampling but to obtain a loan product specifically for your property, provide us some information by applying today. Our application does not run credit, ask for social security numbers, or request a processing fee. The application simply provides us with enough information to provide you terms.

 Fixed Rate Commercial Mortgages Floating Rate Commercial Mortgages
Loan Amount$5,000,000 to $250,000,000$10,000,000 to $75,000,000
Loan Term5, 7 and 10 YearGenerally 2 to 3 years
Asset TypesShopping center and retail, warehouse and industrial, apartments and multifamily, single family, condo, and hotel. Other asset classes can be considered on a case-by-case basisShopping center and retail, warehouse and industrial, apartments and multifamily, single family, condo, and hotel. Other asset classes can be considered on a case-by-case basis
SecurityFirst mortgage and MezzanineFirst mortgage
Borrower EntitySingle purpose entitySingle purpose entity
Loan to ValueUp to 75% of appraised value. Higher leverage mezzanine transactions considered on a case-by-case basisUp to 75% of appraised value. Higher leverage and mezzanine transactions considered on a case-by-case basis
DSCR Requirement1.30x on LCF underwritten net cash flow. 1.25x for multifamily.To be determined on a case-by-case basis
AmortizationTypically 30 year amortizationInterest only
Interest RateCompetitive swap based pricingCompetitive LIBOR based pricing
Origination FeeGenerally par1%-2% of the Loan Amount
Exit FeeNoneGenerally 1% of the Loan Amount. May be waived if the Loan is refinanced by Cent Banc
TI/LC, CapEx and Other ReservesOngoing TI/LC and CapEx reserves collected unless low leverage and strong sponsorAn amount adequate as determined by Borrower and Lender. Future Funding of Reserves may be available on a case-by-case basis
Underwriting Fee & Expense DepositGenerally $7,500 underwriting fee. Expense deposit adequate to cover third party reports, legal fees and other customary costsGenerally $7,500 underwriting fee. Expense deposit adequate to cover third party reports, legal fees and other customary costs
PrepaymentDefeasance or yield maintenance, locked out for the earlier of (A) three years following the full funding of the Loan and (B) two years after the securitization of the LoanFreely prepayable after short lockout/yield maintenance period
RecourseNon-recourse to Key Principals except for customary carve-outsNon-recourse to Key Principals except for customary carve-outs

This is just a sampling but to obtain a loan product specifically for your property, provide us some information by applying today. Our application does not run credit, ask for social security numbers, or request a processing fee. The application simply provides us with enough information to provide you terms.

 Fixed Rate Commercial Mortgages Floating Rate Commercial Mortgages
Loan Amount$5,000,000 to $250,000,000$10,000,000 to $75,000,000
Loan Term5, 7 and 10 YearGenerally 2 to 3 years
Asset TypesShopping center and retail, warehouse and industrial, apartments and multifamily, single family, condo, and hotel. Other asset classes can be considered on a case-by-case basisShopping center and retail, warehouse and industrial, apartments and multifamily, single family, condo, and hotel. Other asset classes can be considered on a case-by-case basis
SecurityFirst mortgage and MezzanineFirst mortgage
Borrower EntitySingle purpose entitySingle purpose entity
Loan to ValueUp to 75% of appraised value. Higher leverage mezzanine transactions considered on a case-by-case basisUp to 75% of appraised value. Higher leverage and mezzanine transactions considered on a case-by-case basis
DSCR Requirement1.30x on LCF underwritten net cash flow. 1.25x for multifamily.To be determined on a case-by-case basis
AmortizationTypically 30 year amortizationInterest only
Interest RateCompetitive swap based pricingCompetitive LIBOR based pricing
Origination FeeGenerally par1%-2% of the Loan Amount
Exit FeeNoneGenerally 1% of the Loan Amount. May be waived if the Loan is refinanced by Cent Banc
TI/LC, CapEx and Other ReservesOngoing TI/LC and CapEx reserves collected unless low leverage and strong sponsorAn amount adequate as determined by Borrower and Lender. Future Funding of Reserves may be available on a case-by-case basis
Underwriting Fee & Expense DepositGenerally $7,500 underwriting fee. Expense deposit adequate to cover third party reports, legal fees and other customary costsGenerally $7,500 underwriting fee. Expense deposit adequate to cover third party reports, legal fees and other customary costs
PrepaymentDefeasance or yield maintenance, locked out for the earlier of (A) three years following the full funding of the Loan and (B) two years after the securitization of the LoanFreely prepayable after short lockout/yield maintenance period
RecourseNon-recourse to Key Principals except for customary carve-outsNon-recourse to Key Principals except for customary carve-outs

Cent Banc: Experienced. Reliable. Connected.

Contact Us

Have a quick question? Start here.