PMB also provides traditional CMBS and pre-CMBS loans for commercial financing of traditional commercial real estate transactions. Minimum loan amount is $2MM, and LTV can be up to 80% on most properties. Pre-CMBS loans are designed for properties and/or situations with lower loan amounts or owner/occupied or single-tenant properties.
What Is a CMBS Mortgage ?
Commercial mortgage-backed securities (CMBS) are a type of mortgage-backed security that is secured by mortgages on commercial properties, instead of residential real estate. A CMBS can provide liquidity to real estate investors and commercial lenders.
What Is a Mortgage Backed Security?
A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. Mortgage-backed securities (MBSs) are simply shares of a home loan sold to investors. They work like this: A bank lends a borrower the money to buy a house and collects monthly payments on the loan.
Here are some of our CMBS loan details: CMBS – Commercial Mortgage Backed Security Loans
Property types – Multifamily, Office, Retail, Industrial, Mixed Use, Self Storage, Hotel/Motel, Mobile Home Parks, Manufacturing
- 75% LTV (80% for multifamily)
- Terms – up to 10 years; 25-30 year amortization
- Rates 4.75% – 6.50%
- Non-recourse
- Assumable
- Newly stabilized properties okay
- Secondary and Tertiary markets accepted
- Blanket loans for smaller properties accepted
These programs require a strong sponsor/borrower, reasonable liquidity or equity, and a fully stabilized asset. Contact us today for a quick quote for your CMBS or pre-CMBS commercial financing needs!
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CLICK HERE for a matrix of our lending programs