Loan Criteria
Property Types
Office/Retail/Industrial/Multifamily/Student Housing/Hotel/MHP/Self-Storage and other aset classes on a case by case basis
Locations
Generally urban or suburban locations in primary, secondary, top 200 MSA's.
Purposes
Acquitisions, refinance (including return of equity, subject to minimum holding period).
Loan Size
$5.0MM and up
Term
5 to 15 years
Rate
Market based spread over relevant duration swap or UST
Fees
Par.
Rate Type
Fixed
Amortization
10-30 years, with interest only available on a case by case basis.
DSCR
Generally a minimum DSCR of 1.20x based on underwritten cashflows, and a 30 year amortization, may go lower (case by case).
LTV
Up to 80%, (Hotels and Student Housing 75%)
Prepayment
Yield Maintenance, with flexible prepayment options available.
Loan Services
Retained by an affiliate of Bayview Asset Management.
Recourse
Generally non-recourse except standard carve-outs.
Owner Occupied
Available on a case by case basis.
Reserves & Cash Management
Determined on a loan by loan basis. Generally includes funding of tax, insurance, TI/LC and replacement reserves.
Early Rate Lock
Available upon completion of background/credit checks.