CMBS Loans
Non-Recourse, Fixed-Rate Financing for Income-Producing Properties
Commercial Mortgage-Backed Securities (CMBS) loans offer attractive, long-term financing for stabilized commercial real estate assets. At i95 Capital, we help sponsors navigate the complexities of CMBS to access non-recourse, fixed-rate capital with higher leverage and predictable terms.
Key Highlights
Loan Size: $5 million to $100+ million
Loan-to-Value (LTV): Up to 75%
Term: Typically 5, 7, or 10 years
Interest Rate: Fixed
Amortization: Usually 25–30 years
Recourse: Non-recourse with standard carve-outs
Ideal for Stabilized Properties
CMBS loans are best suited for fully stabilized, income-producing assets with strong tenancy, consistent cash flow, and clean operating history. They are often used for:
Acquisitions of core or core-plus properties
Refinancing of mature assets
Recapitalizations with cash-out potential
Locking in long-term fixed rates in rising rate environments
Property Types We Finance with CMBS
Retail (grocery-anchored, power centers, malls)
Office (urban and suburban, multi-tenant or single-tenant)
Multifamily (including student and workforce housing)
Industrial (distribution, light manufacturing)
Hospitality (flagged full-service or limited-service)
Self-storage and select specialty asset classes
What Makes CMBS Unique?
Asset Isolation: Loans are placed in a trust and securitized, making the asset the primary credit rather than the borrower.
Non-Recourse: Protects sponsors from personal liability, aside from standard carve-outs.
Prepayment Restrictions: Typically includes yield maintenance or defeasance requirements.
Servicing: Loans are managed by a third-party servicer, not a traditional lender.
Standardization: Documentation and underwriting follow rigid protocols for securitization.
Our CMBS Expertise
Navigating a CMBS transaction requires experience with the nuances of structuring, underwriting, and closing. i95 Capital brings deep knowledge of the market and strong lender relationships to help clients avoid pitfalls and secure the right terms.
Sample Use Cases
Refinancing a $25M retail center with stable tenancy and strong cash flow
10-year fixed-rate loan for a 90% occupied office building
Cash-out refinance on a stabilized hotel post-renovation
Portfolio-level CMBS financing on multiple industrial properties
Why Work with i95 Capital?
Access to top-tier CMBS lenders and securitization conduits
Detailed guidance through underwriting, closing, and servicing transition
Expertise in defeasance and prepayment structuring
Strategic advice on positioning your asset for CMBS execution
Explore CMBS Financing for Your Asset
If your property is stabilized and income-producing, a CMBS loan could offer the long-term, non-recourse capital solution you’re looking for.
