Eligible Property Types
- Neighborhood and community retail strip centers
- Multi-tenant inline retail properties
- Single-tenant net lease (NNN) retail — investment-grade and non-rated
- Anchored and unanchored retail centers (select programs)
- Urban and suburban ground-floor retail
- Retail condominiums in income-producing commercial buildings
Common Use Cases
- Acquisition of stabilized neighborhood retail with in-place tenancy
- Bridge financing for retail centers in lease-up or tenant transition
- Refinance of maturing retail debt on stabilized or near-stabilized assets
- Cash-out refinance of equity from stabilized retail assets
- Value-add repositioning of below-market-occupancy retail centers
- Acquisition of single-tenant NNN retail with long-term leases
Typical Borrower Profile
- Commercial real estate investors and operators with retail experience
- Sponsors acquiring or refinancing neighborhood and community retail
- Net lease investors seeking bridge or term financing on NNN retail
- Value-add retail operators with a leasing and repositioning plan
Required Documentation
- Current rent roll with tenant names, lease terms, and base rents
- Trailing 12-month operating statement
- Executed lease agreements for anchor and major tenants
- Borrower/sponsor background and entity documents
- Property appraisal or recent market valuation
- Site plan and property photographs
Frequently Asked Questions
What retail property types are eligible?
Eligible retail property types include neighborhood retail, strip centers, multi-tenant inline retail, single-tenant NNN, and ground-floor retail. Large-format power centers and regional malls are generally outside our program parameters. Contact originations for your specific property type.
What DSCR is required for retail financing?
Stabilized retail properties typically require a minimum DSCR of 1.25x or higher based on in-place tenancy and underwritten NOI. Transitional or lease-up retail may be financed through a bridge program with a stabilization plan.
Can I finance a single-tenant NNN property?
Yes. Single-tenant net lease retail is eligible for bridge and term programs. Underwriting considers tenant quality, lease term remaining, rent escalations, and property location.
Request Preliminary Terms
Submit your loan request summary and a member of our originations team will follow up to discuss preliminary terms.
Submit a Loan Request Contact OriginationsEligible Markets
Lending is limited to the Top 200 U.S. MSAs. Rural and low-population markets are not eligible.
Subject to underwriting, collateral review, borrower qualification, and lender approval. Not a commitment to lend.
How the Preliminary Term Process Works
Programs are available for qualified sponsors, developers, brokers, and real estate investors. Preliminary terms are subject to underwriting, valuation, market conditions, borrower qualifications, collateral review, and final credit approval.
Step 01
Submit Loan Request Summary
Provide property address, loan amount requested, use of proceeds, and sponsor information through our secure loan request submission portal.
Step 02
Preliminary Review
Our originations team reviews the submission and responds with a preliminary indication of interest and any additional information needed.
Step 03
Term Sheet Issuance
If the loan request meets our program criteria, we issue a preliminary term sheet outlining structure, pricing, and conditions for formal underwriting.