3701 Maywood Court
Carrollton, TX 75007

Other Loan Types
Mobile Home Park

Eligible Properties: CBD and suburban multi-tenant office properties are eligible. Should have a stabilized income. Unacceptable candidates include office condominiums, buildings that cannot be converted to multi-tenant uses and economically obsolete properties.
Eligible Property Locations: Nationwide; located on main roadways with good visibility and access, or in primary office areas or demonstrated ability to complete and re-lease at market rates. Require solid market strength as determined by, among other factors, absorption and trends in population and employment.
Loan Size: $1 Million - $15 Million; may consider up to $25 Million.
Debt Service Coverage: 1.25 to 1.30, depending on property type.
Loan-to-Value Ratio: Up to 75%
Loan Term: 7 or 10 years
Amortization: 30 years, or less, depending on major lease terms and expiration.
Tenancy: Prefer multi-tenant or credit-tenant properties. Loans for single tenant properties will normally be amortized over the remaining term of the lease.
NOI Calculation: Rents are the lesser of the contractual base rents or current market rents. Minimum vacancy of 5% or market. Recoveries on NNN rents must be consistent with market. Rent Roll - Require smooth lease expiration schedules so that the debt coverage ratio in any given year does not fall below break-even. May consider properties with significant rollover risk on a case-by-case basis. Management Fee - Minimum management fee of 5% of effective gross income. Reserves - $.10 to $.25 per square foot for structural reserves depending on property age and condition and adjusted in accord with the engineering report. Determine TIs/Leasing commission by rollover schedule and market-based TI/leasing commission requirements.

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MMR Realty Advisors
3701 Maywood Court
Carrollton, TX 75007
Phone: 214.924.6026
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MMR Realty Advisors