CMBS 2.0 LOANS

For stabilized, multi-tenant commercial properties, A10 Capital’s CMBS 2.0 loans provide the most competitive rate and term. Our CMBS program is a joint venture, combining the origination and underwriting capabilities of A10 Capital with the backbone of a primary Wall Street conduit platform.

TYPICAL CMBS 2.0 LOAN TERMS

  • $5 million or greater
  • Fixed rate - 5, 7, or 10 year terms
  • Minimum: 1.30x DSCR and 9% debt yield (net cash flow / loan)
  • Pro-forma income not considered
  • 75% max LTV
  • 25 to 30 year amortization
  • Lock box for loans > $15 million
  • Required tax, insurance, and replacement reserves
  • Single asset or special purpose entity required (TIC structures not considered)
  • Primary and secondary markets preferred
  • Prepayment subject to defeasance post applicable lockout period
  • Non-recourse with standard “bad boy” carve-outs

TYPICAL PROPERTIES (STABILIZED)

  • Apartments / Multi-family
  • Industrial (warehouse / distribution / flex)
  • Office (including medical office)
  • Retail (anchored)
  • Mixed-use
  • Self-storage
  • Hospitality
  • Mobile home parks
  • Owner occupied and unanchored retail considered on exception basis

Why A10 capital?

  • Substantial experience structuring and funding CMBS loans
  • Certainty of delivery
  • On leading edge of the emergence of CMBS 2.0