CMBS

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CMBS

Offering fixed rate and floating rate commercial real estate first mortgages. CICG possesses the size and scale to serve as a one-stop commercial real estate finance firm and seamlessly deliver more complex transactions to its clients with certainty of execution.

Fixed Rate Commercial Mortgages

Loan Amount: $2,000,000 to $500,000,000

Loan Term: 5, 7, and 10 Year

Asset Types: Multifamily, retail, office,

industrial, hotel, and mobile home parks. Other

asset classes considered on

a case-by-case basis

Security: First mortgage and

Mezzanine

Borrower Entity: Single purpose entity

Loan-to-Value: Up to 75% of appraised

value. Higher leveraged mezzanine transactions

considered on a case-by-

case basis

Minimum DSCR: 1.30x on CICG underwritten

net cash flow.

1.25x for multifamily

Amortization: Generally 30 year

Interest Rate: Competitive swap based

pricing

Origination Fee: Generally par

Exit Fee: None

Reserves: Ongoing TI/LC and CapEx

reserves collected unless

low leverage and strong

sponsor

Underwriting Fee: Generally $7,500

Expense Deposit: Expense deposit adequate

to cover third-party

reports, legal fees, and

other customary costs

Prepayment: Defeasance or yield-

maintenance

Recourse: Non-recourse to Key

Principals except for

customary bad boy carve-

outs

Floating Rate Commercial Mortgages

Loan Amount: $10,000,000 to $75,000,000

Loan Term: Typically 2 to 3 years

Asset Types: Multifamily, retail, office,

industrial, hotel, and

mobile home parks. Other

asset classes considered on

a case-by-case basis

Security: First mortgage

Borrower Entity: Single purpose entity

Loan-to-Value: Up to 75% of appraised

value. Higher leverage and

mezzanine transactions

considered on a case-by-

case basis

Minimum DSCR: To be determined on a

case-by-case basis

Amortization: Interest only

Interest Rate: Competitive LIBOR based

pricing

Origination Fee: Generally 1% of loan

amount

Exit Fee: Generally 1% of loan

amount. May be waived

if refinance through CICG

Reserves: An amount adequate as

determined by borrower

and lender. Future

funding of Reserves may

be available on a case by

case basis

Underwriting Fee: Generally $7,500

Expense Deposit: Expense deposit

adequate to cover third-

party reports,

legal fees, and other

customary costs

Prepayment: Freely prepayable after

short lockout/yield

maintenance period

Recourse: Non-recourse to Key

Principals except for

customary bad boy carve

outs