CMBS, also known as Commercial mortgage-backed securities, is a type of mortgage-backed security that is secured by the loan on a commercial property. CMBS Loans are similarly structured and can be used for the purchase or refinancing of income-producing commercial properties like hotels. Since all CMBS conduit loans are similarly structured, Hotel Capital Funding provides a list of necessary steps prior to commencing the loan process.
- Does the Property Qualify for a CMBS Conduit Loan?
- Initial Property/Sponsor Diligence and Loan Sizing.
- Sponsor Education.
- Loan Approval and Application
- Property/Legal Diligence.
In order for us to give you a good indication of the fixed rate non recourse loan amount we would require the following documents:
- Trailing 12 Months Monthly P&L’s with a breakdown of the fixed costs.
- The last 2 years P&L’s or Tax Returns.
- The latest Monthly 2014 STR report, Dec 2013 STR and Dec 2012 STR.
- The Cost Bases (how much it cost including improvements you made) for the property and approximate current loan amount on the property.
- The number of years left on the Franchise.
- Approximate construction costs if you built it in the past 3 years.
Please contact us and let us assist you with your hotel CMBS loan today.