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Note Purchase Loans Terms

Eligible Markets Nationwide in primary, secondary, and qualifying tertiary markets
Property Types Office, retail, industrial, multifamily, self-storage, student housing, mixed-use and single tenant with lease considered when guaranteed by investment grade credit
Status Notes secured by first mortgages on existing buildings (no ground-up construction)
Quality Class A and Class B; Class C considered on a deal-by-deal basis.
Loan Type Fixed or floating rate structure
Loan Amount $5 million-$50 million+ per property/ Loan portfolios up to $200 million
Collateral Initial Uniform Commercial Code-1 (UCC-1) collateral assignment of underlying note, converting to first mortgage after obtaining title to property.
Loan Terms 2-7 years with extensions
LTV Loan-to-Value (LTV) Ratio: Less than 60%, based on lower of note purchase price or appraised value.
DSCR No minimum for debt-service coverage ratio (DSCR)
Loan Spreads Competitive spreads, call for pricing
Loan Fees 1.0% / 1.0%
Amortization Interest only
Rate Lock Early rate lock available
Future Facilities Additional future funding of up to 100% for lease-up costs upon completing foreclosure and obtaining title to the property.
Sponsor Borrower Creditworthy individual(s) or entity acceptable to lender with sufficient liquidity and net worth, foreign nationals acceptable, experienced note buyers preferred.
Recourse Non-recourse, subject to industry standard “bad boy” carve outs
Prepayment Ability to prepay at any time with minimum months of interest
Servicing All loans serviced in-house for the life of the loan by A10 Capital Asset Management Team.
No hidden servicing fees.