CMBS/Balance Sheet Underwriting

This best-in-class service has resulted in 40+ long-standing client relationships and the successful completion of over 500 full underwriting assignments representing over $6.5 billion in loan volume since 2014. Experience with all property types including over $375 million in hospitality and over $500 million in self-storage underwritten for CMBS execution. Highlights of which include:

$1.07 billion, 25-property Hotel Portfolio
Created the model and prepared the rating agency tape, credit memo, and securitization term sheet at both the asset and the portfolio level.

$560 million, 430-asset Small Balance Portfolio
Validated existing data fields and incorporated missing/required data from detailed offering memorandum, loan documents, and portfolio data tape. Performed underwriting based on rental information and expense assumptions.

$230 million, 128 Loan SFR Securitization
Created and validated the data tape from source documents, and made required changes. Prepared three additional data tapes: (1) Property tape – Captured the key quantitative and qualitative data of each of the 2,100 properties in the securitization. (2) Lockbox description extraction – Assembled loan type (recourse/non-recourse), cash management, and lockbox information for all 128 loans. (3) Borrower financial information – Captured the financial data of all the borrowers included in the securitization.

$225 million, 50-asset Hotel Portfolio
Created the model and prepared the credit memo at the portfolio level.

$45 million Mezzanine Financing
Underwrote a first mortgage with mezzanine financing secured by a $45.0 million multi-tenant retail power center.

$35 million Bridge Financing
Underwrote bridge loans including a 13-property industrial portfolio and 2-property multifamily portfolio.