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CREDIT TENANT LEASE
Use tenant's credit rating to qualify for the loan

Loan Amount:	$1 million to $300 million; single properties or multi-property portfolios.
Property Types:	Single or Multi Tenant Retail, Warehouse/Distribution and Corporate Office properties on separate tax parcel.
Term/Amortization:	Typically fully amortizing with Lease term or amortization beyond loan term.
Interest Rate:	"On-the-run" UST (matched to average life) plus a spread. Interest calculation is 30/360.
Maximum LTV:	No traditional LTV restrictions. (not to exceed 100% LTV).
Minimum DSCR:	1.00x to 1.15x for leases without landlord obligations; 1.05x for all others.
Residual Value Insurance:	Residual Value Insurance (RVI) will be required for amortization that goes beyond the loan term. NO EXCEPTIONS.
Lease Enhancement Insurance:	If required - 40 basis points. One-time cost at closing.
Tenant Credit Ratings:	BBB or better (Moody's or S&P's)
Rate Lock:	Locked at commitment.
Escrows:	Dependent upon landlord obligations.
Ownership Interest:	Special Purpose Bankruptcy Remote Entity (SPE).
Liability:	Non-recourse, except for standard carve-outs.
Time to Close:	30 to 60 days, subject to receipt and review of due diligence materials.
Lender Fees:	1%-3%
Closing Fees	$10,000 - $30,0000
Third Party Reports:	Appraisal and Environmental Reports (plus Seismic if in an earthquake zone). Engineering report not required.

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Advanced Equity

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