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Property Types

Commercial Co-ops & Condominiums / Co-op Mortgages & Credit Lines

This is a type of ownership in which the owners of a multi-unit commercial complex own shares in a corporation (the cooperative corporation) that owns the building, giving each owner or shareholder the right to occupy a specific apartment or unit. Cooperatives shareholders qualify for certain tax-benefits such as deductions for the interest portion of their maintenance payments.

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Mixed-Use Properties

Mixed use properties typically consist of a combination of commercial (most often retail) space as well as residential units. Typically, residential units are above the commercial space but at times they also can be beside or behind.  Mixed-use properties are appealing to property owners because of the commercial income they generate, but lenders are often uneasy if a high percentage of a property's total income is generated by the commercial rather than the residential component. Contact an OCL advisor to discuss your mixed-use property to find out what options are available and to obtain the widest acceptance among capital providers.

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Multifamily / Apartment Building

Multifamily can consist of garden apartments, mid-rise and high-rise structures, co-op units, senior housing, independent living, student housing, military housing, affordable housing and manufactured homes with 5 or more units. Conventional programs provide financing at 80% of value or cost (whichever is lower). There are a few programs that will go to 85% or 90% or will allow secondary financing for a combined LTV of 85% to 90%. Common DSCR is around 1.2, some programs offer lower.

Term: 3, 5, 7, 10, 15, 20 ,25, 30 and 40 year terms are the most common. Interest only, balloon notes and long term fixed are available. Commercial programs may or may not require recourse (personal guarantee).

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Office Buildings

Office buildings are another one of the four food groups in commercial lending. Office covers a full line of office properties such as suburban and downtown single story through high-rise multi-tenant properties and selectively single-tenant and mixed-use properties. Conventional programs provide financing at a maximum of 80% of value or cost. B-notes or mezzanine pieces can be in junior position to gain an additional 5 – 10%. Common DSCR begins around 1.20.

Term: 5, 7, 10, 15, 20, 25, 30 are the most common. Interest only, balloon notes and long term fixed options are available. Commercial programs may or may not require recourse (personally guarantee).

 

  • Business Condos
  • High Rise Building
  • Medical
  • Suburban
  • Single-Tenant Building

 

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Retail

Retail properties cover a broad spectrum such as anchored, shadow-anchored or unanchored retail space, regional malls, power centers, and selectively factory outlet centers and stand-alone/big-box. Conventional programs provide financing at a maximum of 80% of value or cost. B-notes or mezzanine pieces can be in junior position to gain an additional 5-10%. Common DSCR begins around 1.20.

Term: 5, 7, 10, 15, 20, 25, 30 are the most common. Interest only, balloon notes and long term fixed options are available. Commercial programs may or may not require recourse (personally guarantee).

  • Car Care Center
  • Community Center
  • Convenience Stores
  • Factory Outlet
  • Neighborhood Center
  • Regional Malls
  • Strip with Anchor
  • Strip without Anchor

 

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Warehouse / Industrial

Warehouse and industrial properties range such as bulk distribution and self-storage facilities and selectively other single and multi-tenant facilities. Conventional programs provide financing at a maximum of 80% of value or cost. B-notes or mezzanine pieces can be in junior position to gain an additional 5-10%. Common DSCR begins around 1.20.

Term: 5, 7, 10, 15, 20, 25, 30 are the most common. Interest only, balloon notes and long term fixed options are available. Commercial programs may or may not require recourse (personally guarantee).

  • Light
  • Manufacturing
  • Office-Warehouse
  • Research & Development
  • Warehouse/Multi-Tenant
  • Warehouse/Single-Tenant

 

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Hotels / Hospitality

The hospitality industry is a large and broad industry ranging from limited service hotels, branded full service, extended stay, Resort types, independents (non-flagged), and even down to motels. Conventional financing programs vary. It’s best to discuss with a OCL advisor to give you more information.

 

  • Full Service Hotel
  • Limited Service Hotel
  • Resort Hotel
  • Suite Hotel
  • Convention Hotel
  • Flagged Hotel / Motel
  • Independent Motel

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Agricultural Land & Agribusiness

This includes permanent plantings, row crops, ranches, vineyards, orchards, timberland and vertically integrated agribusinesses.

 

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Specialty

Specialty financing ranges from development of auto malls, golf courses and marinas to purchasing a church or a gas station. Call your OCL advisor to discuss your next project.

 

  • Net-Leased
  • Parking Garage
  • Auto Malls/Dealerships
  • Church
  • Condos/PUDs/Co-ops
  • Gas Stations
  • Golf Courses
  • Historic Rehabs
  • Land (Agriculture )
  • Marina/Dockominiums
  • Mini Storage
  • Mobile Home Parks

 

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