A Southern California regional lender is expanding multifamily originations with their recent addition of several marketing pros and support staff. Bay Area and SoCal stabilized multifamily assets are underwritten to a 1.15 dcr with pricing starting at 3.0% fixed for three years to 3.9% fixed for seven years. Loans roll into a LIBOR based floater for the balance of the 30 year amortization. Step-down prepayments are structured for loan requests up to $10,000,000. Closing costs are minimal for this streamlined process – there is no lender origination fee.
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