CRE Debt & Equity
Non-Stabilized Commercial
- Deal size
- $2M–$50M
- Indicative terms
- 65–75% LTC8–12%2–3 yrs, IO
Overview
Designed for the gap between acquisition/renovation and stabilized occupancy — pricing reflects the transition risk, structured to roll into permanent or sale financing once the business plan is executed.
Submit a DealWho this fits
- Retail, hotel, office, multifamily, condo — nationwide
- Assets not yet stabilized
What disqualifies a deal
- Fully stabilized assets (a permanent loan is cheaper)
- Pre-entitlement land
Frequently asked
Questions sponsors ask about this program
- What deal sizes does Non-Stabilized Commercial support?
- Non-Stabilized Commercial is sized at $2M–$50M. Designed for the gap between acquisition/renovation and stabilized occupancy — pricing reflects the transition risk, structured to roll into permanent or sale financing once the business plan is executed.
- What are the indicative terms?
- Indicative terms are 65–75% LTC; 8–12%; 2–3 yrs, IO. Final pricing and structure depend on sponsor track record, asset quality, and the exit.
- Who is a good fit for this program?
- Retail, hotel, office, multifamily, condo — nationwide. Assets not yet stabilized.
- What would disqualify a deal?
- Fully stabilized assets (a permanent loan is cheaper). Pre-entitlement land. We tell sponsors early when a deal isn't right for this program rather than shopping it to lenders who won't close it.
- How does the process and timing work?
- The structure assumes a takeout — permanent financing or sale — once occupancy stabilizes, so the exit analysis carries as much weight as current cash flow.