Small Loan CMBS Product is Back!

GSP is working with a West Coast capital provider actively funding non-recourse fixed rate CMBS loans down to $2,000,000 with no spread add-on. Until recently, Wall Street was rejecting all loan requests less than $5,000,000. Extensive closing and legal fees made CMBS execution less than palatable for Borrowers. This Wall Street underwriter will cap all lender related closing costs including lender legal fees at $20,000. This nation-wide lender will fund in MSAs as small as 50,000 to a 9%-10% debt yield and 70% LTV. Products include core asset types + student housing and mobile home parks. Hospitality and single-tenant requests are not being considered at this time.