| |
Turner
Hughes finances most types of income producing properties
through its permanent, fixed-rate loan programs and its equity/bridge
programs. Most loans are non-recourse with the exception of
standard carve-outs for "bad boy" provisions. Turner
Hughes minimum loan size is $1 million. Loan parameters are
asset class specific and are established on a case-by-case
basis, with maximum loan-to-value scenarios being pushed up
to 100% in certain cases. Please view the following asset
classes as our underwriting criteria may vary
| MULTI-FAMILY UNDERWRITING
PROFILE |
Eligible
Property Types:
|
Class
A, B, C. |
| Loan Term: |
5,
7, 10, 15, 20 years |
| Standard
Loan-to-Value: |
80% |
| Minimum DSCR: |
1.20x |
| Maximum Amortization: |
30
years |
| Income and
Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
| |
|
| OFFICE
UNDERWRITING PROFILE |
| Eligible
Property Types: |
Class
A, B & C buildings with a preference for diverse rent
rolls. |
Loan Term:
|
5,
7, 10, 15, 20 years |
| Standard
Loan-to-Value: |
75%,
80% for "CBD" |
| Minimum DSCR: |
1.25x |
| Maximum Amortization: |
30
years |
| Income and
Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
| |
| SELF-STORAGE
UNDERWRITING PROFILE |
| Eligible
Property Types: |
All
properties; on-site management preferred. |
| Loan Term: |
5,
7, 10, 15, 20 years |
| Standard
Loan-to-Value: |
75% |
| Minimum DSCR: |
1.30x |
| Maximum Amortization: |
25
years |
| Income and
Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
| |
|
| RETAIL
UNDERWRITING PROFILE |
| Eligible
Property Types: |
Anchored
and unanchored with preference for multi-tenant centers.
|
| Loan Term: |
5,
7, 10, 15, 20 years |
| Maximum Loan-to-Value: |
70-80% |
| Minimum DSCR: |
1.20-1.30x |
| Maximum Amortization: |
25-30
years |
| Income and
Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
| |
|
| HOTEL
UNDERWRITING PROFILE |
| Eligible
Property Types: |
Full
service, limited service & extended stay; flagged
or unflagged. |
| Loan Term: |
5,
7, 10, 15, 20 years |
| Maximum Loan-to-Value: |
70% |
| Minimum DSCR: |
1.40x |
| Maximum Amortization: |
25
years |
| Income and
Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
| |
|
| INDUSTRIAL
UNDERWRITING PROFILE |
| Eligible
Property Types: |
Warehouse,
distribution, light industrial, and flex/office facilities;
preference for multi-tenant properties. |
| Loan Term:
|
5,
7, 10, 15, 20 years |
| Maximum Loan-to-Value: |
80% |
| Minimum DSCR:
|
1.20x
|
| Maximum Amortization:
|
30
years |
| Income
and Expenses: |
Three
years of historical operations if available. Emphasis
is on the trailing 12 months of operations and the current
rent roll. |
Remaining
Guidelines |
|
