Our asset criteria and lending guidelines
As a life insurance lender ManhattanLife looks for the commercial property to be self-sufficient in its ability to generate rental income and cover its own operating expenses. Therefore, our originators seek stabilized, high-quality assets with good credit tenants on long-term leases. We focus on projects that need permanent debt financing between $1MM and $15MM, with the average loan size around $5MM.
Below are our guidelines for permanent financing or refinancing of your commercial real estate assets.
| Property Types | Office Medical Office Retail Light Industrial/Warehouses Multi-family Specialty Purpose |
| Location | Nationwide with a focus on metropolitan statistical areas of 250,000 or more with good, long-term growth |
| Rates | Highly competitive life insurance fixed rate options |
| Loan Size | $1 million to $15 million |
| Term | 5-, 7- and 10-year options with 25-year amortization |
| Loan-to-Value Ratio | 70-75% based on underwritten value |
| Prepayment | 4% declining (4% in year 1, 4% in year 2, 3% in year 3, 2% in year 4, 1% in year 5 and thereafter) |
| Fees | No origination fees or application fees |
| Loan Servicing | All loans are serviced by ManhattanLife |
| Appraisal | Prepared by an MAI certified appraiser, using Lender’s protocol |
| Leasing | Stabilized occupancy and reduced rollover risk |
PLEASE SUBMIT LOAN PACKAGES AND QUESTIONS TO:
Tim Bennett
Commercial Real Estate Loan Analyst
10777 Northwest Freeway, Houston, TX 77092
(713) 821-6584 phone
TimBennett@ManhattanLife.com