Property Types Office, retail, industrial, multifamily, self-storage, mixed use, and mobile home parks. Hospitality considered on a deal-by-deal basis
Status Existing buildings (no ground-up construction)
Quality Class A and Class B. Class C considered on a deal-by-deal basis if mitigating factors
Location Nationwide in primary and secondary markets
Borrowing Entity Single purpose entity
Initial Loan Amount Initial funding for individual properties typically from $1 million to $20 million. Initial funding for multi-property pools up to $150 million
Additional Loan Amount for CapEx Additional future funding available
Additional Loan Amount for TI/LCs Additional future funding of up to 100% for lease-up costs
Loan-to-Value Up to 70% (typical LTV is 60-65%). Stretch LTVs up to 80% considered on a deal-by-deal basis
Loan Term Up to 7 year loans (3-5 year terms plus extensions)
Recourse Non-recourse to key principals with standard bad act carve-outs
Origination Fee Determined by quality of property, strength of sponsor, and loan characteristics
Rate Type Fixed or floating
Interest Rate Interest-only rates competitive with bank and CMBS mortgage constants
Exit Fee Determined by quality of property, strength of sponsor, and loan characteristics
Reserves An amount as determined by borrower and A10 Capital
Prepayment Loan can be prepaid at any time. A reasonable minimum interest period aligned with each borrower’s specific business plan is typically required