Anchored and Unanchored Shopping Center Financing

ANCHORED & UNANCHORED SHOPPING CENTER FINANCING

Please bear in mind that the following program guidelines are just that - guidelines. We encourage you to run your "Commercial Loan Scenario Request" by us and we will respond with our best-case scenario from over 600 Capital Sources. On the rare occasion that we have not been able to place a commercial loan package ourselves, we have always been able to help point the customer to the right source.

Loan Amounts

$750,000 to unlimited

Loan Term / Amortization

5, 7, 10 and 15 years with amortization periods of up to 30 years for anchored, 25 years for unanchored.

Interest Rates

Anchored - Fixed interest rates currently priced at spreads of 190-300 basis

Unanchored - Fixed interest rates currently priced at spreads of 225-375 basis points over the comparable term U.S. Treasury issue.

Debt Coverage Ratio

Minimum of 1.20x

Loan to Value

Anchored - Up to 80%

Unanchored - Up to 75%

Personal Recourse

Non-recourse with standard "Carve-Outs" and Key Principal obligations.

Origination Fee

0% - 2%

Commitment Fee

Depends on loan amount (applied towards third party reports, processing, and closing costs)

Prepayment

Declining fee or yield maintenance (this will really depend on which capital source is chosen)

Third Party Fees

Requires appraisal, mini-environmental and possibly legal reports. Structural engineering and seismic reports may be required in California. (Costs vary with each transaction)

Minimum Occupancy Requirement

Will depend on area and amount of time income property has been in place

Assumability

Assumable with Lender approval and a fee of not less than .5%.