CWCapital, a Needham, Mass.-headquartered vertically integrated, full-service national lender to the commercial and multifamily real estate industries, has introduced two new lending programs – now offered through its capital markets group. The new loan programs offer nonrecourse financing for both fixed- and floating-rate debt structures.
CWCapital says that the fixed-rate program offers highly competitive pricing for five- and seven-year maturities up to 75% loan-to-value (LTV) (70% for hotels) with attractive prepayment terms. This program will target quality office, retail, industrial, multifamily and full-service hotel deals in the $10 million to $35 million range, with larger loans considered.
The floating-rate program is designed for borrowers with stable cashflowing properties who want nonrecourse debt up to 75% LTV (70% for hotels) with more prepayment flexibility than is available in fixed-rate products. The floating-rate program targets loans for the same property types in the $10 million to $35 million range. It offers 3+1+1 maturity schedules with only 12 months of lockout, the firm adds.
Within both loan programs, each loan is assumable, and for loans of exceptional quality, mezzanine financing may be available through CWCapital.
