Commercial
Capital underwritten on performance
Commercial financing is evaluated on the asset, the rent roll and the business plan. Terms vary widely by lender, so the goal of a preliminary review is to identify a realistic structure before you spend money on diligence.
Multi-family (5+ units)
Stabilized and value-add apartment assets.
Mixed use
Retail or office with residential income above.
Retail & office
Single tenant and multi-tenant commercial space.
Industrial & warehouse
Owner-user and investor-held industrial property.
Ground-up construction
Draw-based financing for new development.
Owner-user acquisition
Purchase the property your business operates from.
What underwriters look at
- Net operating income and debt service coverage
- Loan-to-value and loan-to-cost on construction
- Sponsor experience, liquidity and net worth
- Lease structure, tenant quality and rollover risk
- Exit strategy — refinance, sale or lease-up
What to prepare
- Rent roll and trailing 12-month operating statements
- Purchase contract or current debt terms
- Sponsor resume and schedule of real estate owned
- Budget and timeline for construction or renovation
Estimates only. All figures are preliminary estimates for educational purposes only. They are not an approval, pre-approval, commitment to lend or a rate lock. Actual terms depend on lender underwriting, credit review, income and asset verification, property appraisal and current market pricing. SP Golden Home Inc. — Equal Housing Opportunity.