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LifeCo Loans

Eligible Markets Nationwide in primary, secondary, and qualifying tertiary markets
Property Types Office, retail, industrial, multi-family, student housing, medical office, self-storage, mixed-use, and single tenants with investment grade credit tenants, others considered on a deal-by-deal basis
Status Stabilized buildings
Quality Class A and Class B
Rate Type Fixed rate
Loan Amount $7 million to $80 million
Loan Terms 3–20-year
LTV Maximum 70% loan-to-value (LTV) ratio
DSCR Debt-service coverage ratio (DSCR): Minimum 1.30x on underwritten net cash flow, 1.25x on multi-family.
Loan Spreads Competitive pricing with life companies and commercial mortgage-backed securities (CMBS)
Origination Fee .50% - 1.0%
Amortization Up to 30 years
Rate Lock Early rate lock available
Reserves Real estate tax, insurance, and tenant improvement/leasing commissions (TI/LCs) (if applicable)
Recourse Non-recourse, subject to industry standard “bad boy” carve outs
Assumable Yes
Prepayment No cumbersome and complicated defeasance; Assumable option available to counterbalance standard yield maintenance
Closing 30-45 days from signed application and good faith deposit
Unacceptable Property Types Single family residence (SFR), hospitality, owner-occupied, ground-up construction, specialty properties