No Floor Money Center Bank at LIBOR + 250
September 1, 2011A national Money Center Bank is looking to expand their on-book commercial real estate holdings by $500,000,000 and will price down to LIBOR + 250 without a floor on multifamily, office, retail and industrial properties. Initial transactions of $10,000,000 or more will be required for smaller transactions to be considered on a go-forward basis. The floating rate loan does not carry a pre-payment penalty and can be swapped for a fixed coupon. Ground-up construction will be considered with a repayment guarantee. Non-recourse debt is available for cash flowing assets below 65% LTV. Mezzanine debt to 85% of value is permitted from an approved partner.
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