Fraterinty and Sorority House Loans
Student housing properties are considered:
Conventional multifamily properties whereby a minimum of 20% of the units are rented to university undergraduate or graduate students.
A property solely constructed or rented for student housing (on-campus or off-campus).
Normally built within a specific distance to the campus of a major university.
Student Housing Financing Sources
We have financing sources and solutions that meets the requirements of your property which include:
Commercial Mortgage-Backed Securities (CMBS)
Fannie Mae DUS®
Federal Housing Administration (FHA)
Life Insurance companies
Take advantage of our comprehensive experience in obtaining financing solutions from a variety of investment sources, where our lenders structure a financing solution around your property's unique requirements.
Stabilized Multifamily student dwellings containing at least 5 units
Must be dedicated student housing and located within 2 miles of the school
University population must be greater than 7,500 students.
MSA population of 250,000 required Food Service is not allowed
Strong single and multi-asset borrowers with proven track record in student housing.
$500,000 - $20,000,000
Term & Amortization:
Typically 30 year terms with 30 year amortization 3, 5, 7, 10 fixed terms offered
Typically step-down prepayment penalties during the fixed rate portion of the loan.
Taxes and insurance escrows required
Fannie Mae & Freddie Mac
Interest Rate - Fixed and variable rate options
Term - 5 to 30 years.
Amortization - Up to 30 years.
Maximum LTV - 75% - 80%
Minimum DSCR - 1.30x
Recourse - Non-recourse execution is available, with standard carve-outs required for "bad acts", such as fraud and bankruptcy.
Terms subject to change.