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Welcome to Chatter! We’re happy to be your source for multifamily news, research and insight. Bookmark us and be sure to sign up for our weekly newsletter to stay on top of all things financing and investment for the multifamily industry. We also invite you to follow us on Twitter. What is Chatter? So what Read the full article…

Research

How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

Around the Web

Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

Commercial Mortgage-Backed Securities (CMBS)

Arbor offers CMBS financing for multifamily, office, retail, industrial, hotel and self-storage.

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Experience multifamily CMBS lending the Arbor way

Arbor’s CMBS expertise and experience has allowed us to build a loan platform for you with unique agility, flexibility and, above all, personalization.

Unique Arbor multifamily CMBS advantages

  • Maximized leverage
  • Rapid execution
  • Personalized benefits of working with a true relationship lender
  • Flexible options, including bridge-to-permanent CMBS Loans, Mezzanine and Preferred Equity
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  • CMBS PROGRAM®

    • LOAN AMOUNT

      $5,000,000 – $100,000,000

    • LOAN TERM

      10 years, 5 or 7 year term available in select instances.

    • AMORTIZATION

      25 year amortization for hotels; 30 year amortization for other property types with up to 10 years of interest-only available in select instances.

    • MINIMUM DSCR

      1.25x

    • MAXIMUM LTV

      Up to 70%-75% of appraised value depending on property characteristics.

    • INTEREST RATE

      Fixed rate throughout term and priced over corresponding swap rate.

    • ELIGIBLE PROPERTIES

      Office, retail, industrial, hospitality, self-storage, mixed-use, manufactured housing communities and multifamily.

    • ELIGIBLE MARKETS

      All U.S. markets.

    • ELIGIBLE BORROWER

      Special-purpose entity required.

    • RESERVES

      Taxes, Insurance and Replacement Reserves typically required.
      Tenant Improvement and Leasing Commissions typically required for commercial properties.

    • RECOURSE

      Non-recourse except industry-standard “bad act” carve-outs.

    • PREPAYMENT

      Typical 2 to 3 year lockout, defeasance or yield maintenance thereafter.

    • ASSUMABLE

      Permitted subject to lender approval and an assumption fee.

    • SECURITY

      First-lien mortgage.

    • EXPENSE DEPOSIT

      $50,000 expense deposit – adequate to cover third-party reports, legal fees and other customary costs.

    • ORIGINATION FEE

      None

    • IN-PLACE SUBORDINATE DEBT

      May be allowed in accordance with CMBS standards.

    • FUTURE SUBORDINATE DEBT

      May be allowed in accordance with CMBS standards.

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