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Real estate Finance

MeMbeRship

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Real estate Finance MeMbeRship

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Thank you for your interest in our Real Estate Finance Memberships.

The Crittenden Report: Real Estate Financing gives you the inside scoop to important changes in the industry to prepare you for your next deal. Each issue of Crittenden’s flagship report analyzes market changes and what that means for the future of commercial real estate financing.

You’ll find coverage on all property and finance types. The Crittenden Report also provides detailed information on what the biggest players in the industry are looking to do next, putting you a step ahead of your competition.

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(Pictured to the right and on the next page: Sample pages of the Finance Report)

The CriTTenden reporT: real esTaTe FinanCing

Quotation not permitted. Material may not be reproduced in whole or in part in any form whatsoever. Copyright © 2019 Crittenden Research Inc.

The CRITTENDEN ™ REPORT®

Real Estate Financing The Nation’s Leading Report on Real Estate Finance

Crittenden Research, Inc. P.O. Box 635107 San Diego CA 92163 Customer Service: (800) 421-3483

Vol. 45, No. 12 June 17, 2019

BUSTLING BANK LENDERS(2019 PROJECTED ORIGINATION VOLUME AND PREFERENCES)

BANK VOLUME DETAILSMorgan Stanley $10B Already funded $4.5B this year; $75M-$1B+ loans for

office, multifamily, hotels, retail, industrial and portfolios; floating-rate non-recourse loans with a max LTV of 65%, mezz loans up to 80% LTV; nationwide

Associated Bank $2B+ Already funded $1B this year; $10M+ loans for multifamily, retail, office, industrial; 75% leverage; less than five-year terms; markets within the bank’s footprint

Bank OZK $1.9B $5M-$650M loans ($70M average); primarily focused on senior secured commercial real estate loans including those collateralized by condos, multifamily, hotels, industrial, office, retail, lot development and mixed-use projects; Libor-based floating rates plus a spread, typical origination fees of 1% but may vary, exit fees up to 1%; 12- to 36-month terms; typically non recourse with standard carve-out, completion and other guarantees; major markets

Bank of the West $1.6B Already funded one-third of projections this year; $15M loans for multifamily, retail, office, industrial, senior housing, self storage; primarily west of the Mississippi River but will follow clients to other states

HomeStreet Bank $1.5B $2M-$20M loans primarily for multifamily Fannie Mae and wholesale portfolio loans, as well as retail, office, industrial, MHC; up to 80% leverage, although deals in major markets often max at 60%-65%; low to mid-4% rates for multifamily, mid- to upper 4% for other assets; DSC as low as 1.15x for multifamily, 1.25x for other deals; full, partial and non recourse; Fannie Mae program nationwide, portfolio loans in WA, OR, CA, ID, NV, AZ, CO, UT, TX, HI

Opus Bank $1.3B Already funded $400M this year; $1M-$20M loans for multifamily, retail, industrial, office, MOB, self storage; up to 75% LTV for multifamily, up to 70% LTV for other assets; up to 10-year fixed-rate terms; recourse and non recourse; interest-only; Seattle; Portland, Ore., Phoenix, Northern and Southern CA

Washington Trust $300M $1M-$30M loans for all property types, caution toward spec and ground-up construction; up to 70% leverage; DSC 1.30x+; prefers seven-year and under terms, will go to 10 years in some cases; New England

For use of original recipient only. It is illegal to forward or otherw

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ission.


The CRITTENDEN ™ REPORT®

Real Estate Financing The Nation’s Leading Report on Real Estate Finance

Crittenden Research, Inc. P.O. Box 635107 San Diego CA 92163 Customer Service: (800) 421-3483

Vol. 45, No. 12 June 17, 2019

BUSTLING BANK LENDERS(2019 PROJECTED ORIGINATION VOLUME AND PREFERENCES)

BANK VOLUME DETAILSMorgan Stanley $10B Already funded $4.5B this year; $75M-$1B+ loans for

office, multifamily, hotels, retail, industrial and portfolios; floating-rate non-recourse loans with a max LTV of 65%, mezz loans up to 80% LTV; nationwide

Associated Bank $2B+ Already funded $1B this year; $10M+ loans for multifamily, retail, office, industrial; 75% leverage; less than five-year terms; markets within the bank’s footprint

Bank OZK $1.9B $5M-$650M loans ($70M average); primarily focused on senior secured commercial real estate loans including those collateralized by condos, multifamily, hotels, industrial, office, retail, lot development and mixed-use projects; Libor-based floating rates plus a spread, typical origination fees of 1% but may vary, exit fees up to 1%; 12- to 36-month terms; typically non recourse with standard carve-out, completion and other guarantees; major markets

Bank of the West $1.6B Already funded one-third of projections this year; $15M loans for multifamily, retail, office, industrial, senior housing, self storage; primarily west of the Mississippi River but will follow clients to other states

HomeStreet Bank $1.5B $2M-$20M loans primarily for multifamily Fannie Mae and wholesale portfolio loans, as well as retail, office, industrial, MHC; up to 80% leverage, although deals in major markets often max at 60%-65%; low to mid-4% rates for multifamily, mid- to upper 4% for other assets; DSC as low as 1.15x for multifamily, 1.25x for other deals; full, partial and non recourse; Fannie Mae program nationwide, portfolio loans in WA, OR, CA, ID, NV, AZ, CO, UT, TX, HI

Opus Bank $1.3B Already funded $400M this year; $1M-$20M loans for multifamily, retail, industrial, office, MOB, self storage; up to 75% LTV for multifamily, up to 70% LTV for other assets; up to 10-year fixed-rate terms; recourse and non recourse; interest-only; Seattle; Portland, Ore., Phoenix, Northern and Southern CA

Washington Trust $300M $1M-$30M loans for all property types, caution toward spec and ground-up construction; up to 70% leverage; DSC 1.30x+; prefers seven-year and under terms, will go to 10 years in some cases; New England



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The Crittenden Report®


LENDERS SHOP FOR RETAIL

Retail borrowers will see available capital from banks, life companies and conduits. High-quality sponsors that invest in best-in-class assets with compelling locations in markets with strong job growth will have their choice of non-recourse capital at historically low interest rates. Lenders seek properties occupied by the highest quality retailers deemed internet-proof such as grocery, pharmacies and restaurants, which are predicted to thrive. Anticipate greater emphasis on capital partners underwriting the intrinsic value of real estate. Lenders will dig a bit deeper to determine if the property is in a strong location for that specific tenant and if that tenant has a continued uptrend in sales. There is a large market for lenders that are focused on shorter term transitional assets. Sponsors will need to become savvier and bring in multiple tranches of mezzanine, preferred equity and JV equity capital.

Borrowers will see 60% to 75% leverage. Investors and developers that seek higher leverage need to turn toward alternative sources of capital and be willing to pay higher interest rates and origination fees. Fixed rates will be around 4% to 4.75%. Floating rates will start at 175 basis points over Libor. Debt yield will be in the 8% to 9% range. Higher quality properties will gain 7.5% to 8% debt yield. Count on debt yield to be greater than 9% as the quality of the property, market and sponsorship dips. DSC will be around 1.25x to 1.50x. Depending on the quality of the asset and the result of the property condition assessment, the payments can be amortized over 20, 25 or 30 years. In certain cases, interest-only is possible for one or two years; if leverage is less than 60%, full-term interest-only can be negotiated.

Banks such as BofA, Wells Fargo, Chase, TIAA Bank, TD Bank, Citizens Bank, SunTrust, AssociatedBank, Bank OZK, Bank of the West, MUFG Union Bank, HomeStreet Bank, Opus Bank, Texas Capital Bank and Washington Trust will fund retail deals. Fidelity Bank and Inland Bank & Trustwill target credit-tenant retail. Borrowers will see 50% to 65% leverage.

Life companies such as Principal Real Estate Investors, PGIM Real Estate Finance, MetLife, John Hancock, Protective Life, Pacific Life, PPM America, Guardian Life, CUNA Mutual, RiverSourceand Security National Commercial Capital will be active. Borrowers will see 65% leverage from life companies. Floating rates will start at Libor-plus 175 to 200 basis points. Life companies will look for grocery-anchored centers where the grocer is among the top three chains in the market.

Conduits such as Morgan Stanley, Deutsche Bank, Citi, UBS, LoanCore Capital, Rialto Capital,Barclays, Starwood Mortgage Capital, StanCorp, Natixis, Guggenheim Commercial Real Estate Finance, KeyBank and Basis Investment Group will also pick up retail market share. Conduits will hand out 75% leverage. Borrowers will see Swap-plus 220 to 250 basis point rates.

Lenders will focus on the tenant mix, longevity and strength of leases. Expect lenders to target 1,500-s.f. to 500,000-s.f. properties, as those under 1,000 s.f. are harder to re-tenant. Lenders will seek necessity retail including grocery, drug stores, dry cleaners, medical and nail salons. Some lenders that turned up their noses at restaurant tenants suddenly love restaurants because they attract shoppers and create an experience that online retailers cannot duplicate. There has been a sharp decline in appetite for big-box retail over the last few years, which will continue especially in tertiary markets such as rural parts of the Midwest.However, there are many tenants that available to fill these vacant big boxes such as grocers, gyms, etc. Look for an increase in bridge and alternative financing to fund these types of renovations.

Keep an eye out for an increase demand for special-purpose retailers, as most of these sites are somewhat e-commerce resistant. There seems to be more of a focus on the health of the tenants. Just having a grocery store with average sales may not be enough to convince lenders anymore. Lenders prefer to see three years of 85% occupancy and higher. If it is a value-add play, lenders will weigh in on how realistic the pro forma is. Deals in low-growth markets with weak sponsorship and functionally obsolete properties will struggle to find access to low-cost, non-recourse capital and will need to settle for lower leverage and full recourse.

High-growth downtown markets and crowded suburban cities will be desired, with the top 25 to 50 MSAs getting the most attention. Coastal cities will always remain favorable. The best markets that show strong employment trends and job growth continue to lead the way such as Texas, Florida, Georgia, Tennessee and the Carolinas. Deals in declining secondary and tertiary markets will be much harder to finance with quality lenders because of the perceived late cycle. Borrowers may be subject to lower leverage or some recourse to act as credit enhancements.



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The Crittenden Report®


BANKS, AGENCIES VIE FOR SMALL-BALANCE MULTIFAMILY

Small-balance multifamily lending will grow as the capital markets remain liquid and lenders scramble to get money out the door. The small-balance multifamily space is well-positioned due to strong investment activity and a vast improvement in liquidity this cycle, due in large part to agency support. Loan size limits will increase slightly, certain programs will become more streamlined and new lenders that previously have not focused on small-balance multifamily will enter the arena. Look for agency lenders and banks to be most the active players. Fannie Mae recently refocused on its SBL product after losing market share the past few years to Freddie Mac. Count on Fannie to be very aggressive on pricing and enter smaller markets going forward. However, both Fannie and Freddie have pulled back slightly as they are ahead of allocations for the year. This leaves room for other lenders to grab deals.

Borrowers will see more favorable terms as lenders compete. Coastal and large MSAs will benefit from the most aggressive underwriting parameters. Borrowers will see up to 75% to 80% leverage. Rates will be in the low 4% to 5% range fixed for five to 10 years. Count on around 1% origination fees. DSC will start at 1.15x to 1.20x. Debt yield will start at around 6% for the highest quality deals. Interest-only periods will be available based on leverage and DSC ratios.

Banks such as Wells Fargo, Chase, Opus Bank, HomeStreet Bank, Fidelity Bank, Inland Bank & Trust, Applied Bank, MUFG Union Bank, Amalgamated Bank, Comerica, Luther Burbank andAxos Bank will fund deals. Borrowers will see 4%-plus rates with banks charging origination fees of up to 1%. Banks will target Class B+ and B properties with five to 70 units. Life companies such as RiverSource, Ameritas, Aegon, Symetra, CUNA Mutual, National Guardian and StanCorp will target newer Class A complexes.

Fannie and Freddie have increased their lending caps and continue to offer steep discounts for “uncapped” business properties with five to 50 units and assets that have a percentage of units that meet certain affordability requirements. Expect Fannie to be more competitive in tertiary markets during the second half of the year. Hunt Real Estate Capital targets properties of all ages and asset classes nationwide. The lender will seek five units and larger buildings with significant pricing discounts for properties with five to 50 units. Leverage will be in the 55% to 80% range. Rates will be in the 4.25% to 5.25% range. DSC will be 1.20x to 1.55x. Arbor Realty Trust seeks five- to 50-unit Class B and C properties located in markets outside of the urban core. The lender will target assets with favorable proximity to transportation as this is often important to these renters. Greystone, RED Capital Group and SunTrust Commercial Real Estate will also be active in the space.

Archway Fund targets both stabilized and value-add deals with a focus on outdated supply where value can be created. Loans start at $2M and leverage will be in the 65% to 75% range. Rates will be in the 7% to 8% range for deals in California and 8% to 9% outside the Golden State. Archway Fund seeks deals near major demand drivers such as CBDs or universities.

Favorable supply and demand dynamics in the small-balance market should buoy stable property income and price appreciation going forward. Excess demand has created opportunities for development in this space. While cap rates on small multifamily properties during the last cycle saw wide spreads, they have not experienced as much volatility over the last few years.

Over the last decade, the small-balance multifamily market has become more formal, as more investors and a diversity of lenders have entered the space. As a result, the amount of liquidity in the market has significantly improved and the demand for small multifamily financing should continue to increase.

Class B and C properties, especially workforce housing, will be targeted. Look for a major push toward outdated supply being modernized. Lenders will seek 1980s or older conventional workforce housing and affordable assets where value can be created. Properties with five to 150 units will be desired.

Lenders will target small deals in major metros, as well as secondary and tertiary cities. Properties in markets with a perceived housing shortage such as Denver, Phoenix, San Diego, Los Angeles, San Francisco, Austin, Texas, Nashville, Tenn., and throughout New England will see the most available capital. Infill locations, major metro areas and smaller markets experiencing strong population and economic growth will also be desired. Secondary markets that benefit from uncapped pricing will also see a lot of activity. Areas with economic or crime issues will be tough to finance.



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The Crittenden Report® Page 3


BANKS, AGENCIES VIE FOR SMALL-BALANCE MULTIFAMILY

Small-balance multifamily lending will grow as the capital markets remain liquid and lenders scramble to get money out the door. The small-balance multifamily space is well-positioned due to strong investment activity and a vast improvement in liquidity this cycle, due in large part to agency support. Loan size limits will increase slightly, certain programs will become more streamlined and new lenders that previously have not focused on small-balance multifamily will enter the arena. Look for agency lenders and banks to be most the active players. Fannie Mae recently refocused on its SBL product after losing market share the past few years to Freddie Mac. Count on Fannie to be very aggressive on pricing and enter smaller markets going forward. However, both Fannie and Freddie have pulled back slightly as they are ahead of allocations for the year. This leaves room for other lenders to grab deals.

Borrowers will see more favorable terms as lenders compete. Coastal and large MSAs will benefit from the most aggressive underwriting parameters. Borrowers will see up to 75% to 80% leverage. Rates will be in the low 4% to 5% range fixed for five to 10 years. Count on around 1% origination fees. DSC will start at 1.15x to 1.20x. Debt yield will start at around 6% for the highest quality deals. Interest-only periods will be available based on leverage and DSC ratios.

Banks such as Wells Fargo, Chase, Opus Bank, HomeStreet Bank, Fidelity Bank, Inland Bank & Trust, Applied Bank, MUFG Union Bank, Amalgamated Bank, Comerica, Luther Burbank andAxos Bank will fund deals. Borrowers will see 4%-plus rates with banks charging origination fees of up to 1%. Banks will target Class B+ and B properties with five to 70 units. Life companies such as RiverSource, Ameritas, Aegon, Symetra, CUNA Mutual, National Guardian and StanCorp will target newer Class A complexes.

Fannie and Freddie have increased their lending caps and continue to offer steep discounts for “uncapped” business properties with five to 50 units and assets that have a percentage of units that meet certain affordability requirements. Expect Fannie to be more competitive in tertiary markets during the second half of the year. Hunt Real Estate Capital targets properties of all ages and asset classes nationwide. The lender will seek five units and larger buildings with significant pricing discounts for properties with five to 50 units. Leverage will be in the 55% to 80% range. Rates will be in the 4.25% to 5.25% range. DSC will be 1.20x to 1.55x. Arbor Realty Trust seeks five- to 50-unit Class B and C properties located in markets outside of the urban core. The lender will target assets with favorable proximity to transportation as this is often important to these renters. Greystone, RED Capital Group and SunTrust Commercial Real Estate will also be active in the space.

Archway Fund targets both stabilized and value-add deals with a focus on outdated supply where value can be created. Loans start at $2M and leverage will be in the 65% to 75% range. Rates will be in the 7% to 8% range for deals in California and 8% to 9% outside the Golden State. Archway Fund seeks deals near major demand drivers such as CBDs or universities.

Favorable supply and demand dynamics in the small-balance market should buoy stable property income and price appreciation going forward. Excess demand has created opportunities for development in this space. While cap rates on small multifamily properties during the last cycle saw wide spreads, they have not experienced as much volatility over the last few years.

Over the last decade, the small-balance multifamily market has become more formal, as more investors and a diversity of lenders have entered the space. As a result, the amount of liquidity in the market has significantly improved and the demand for small multifamily financing should continue to increase.

Class B and C properties, especially workforce housing, will be targeted. Look for a major push toward outdated supply being modernized. Lenders will seek 1980s or older conventional workforce housing and affordable assets where value can be created. Properties with five to 150 units will be desired.

Lenders will target small deals in major metros, as well as secondary and tertiary cities. Properties in markets with a perceived housing shortage such as Denver, Phoenix, San Diego, Los Angeles, San Francisco, Austin, Texas, Nashville, Tenn., and throughout New England will see the most available capital. Infill locations, major metro areas and smaller markets experiencing strong population and economic growth will also be desired. Secondary markets that benefit from uncapped pricing will also see a lot of activity. Areas with economic or crime issues will be tough to finance.



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(Pictured above and on the next page: Sample pages of the Crittenden Directory: Real Estate Financing. Full contact information has been removed from the sample packet. Paid subscribers have access to full view)

Money360

Ladera Ranch, CAMoney360, IncorporatedBridge Lender,Hard Money,Private Lender

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO: $600M

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2017 $358M

2016 $150M

Minimum Loan: $1MMaximum Loan: $20MTypical Rates: 7.50%-9.50%Typical Amort: Interest OnlyRecourse Required:

SUBMISSION FACTSPreferred DSC: 1.05Preferred LTV: 75%Typical Fee: 2%Typical Loan Length: 17- to 36-month termsBroker Submission: No

TERRITORYNationwide

TYPE(S) OF FINANCINGAcquisition,Bridge Loan,First Mortgage,Fixed-Rate Mortgage,Hard Money

PROPERTY TYPE(S)Affordable Housing,Flex Buildings,Healthcare,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Mixed Use,Multifamily,Office,R&D/Bio Science,Retail,Retail(Anchored),Retail (Single Tenant),Retail (Triple Net Leased),Self Storage,Senior Housing,Special Purpose Properties,Student Housing

NOTES

https://www.money360.com/CONTACTS

NationwideGary BechtelPresident999 Corporate Drive Suite 110 Ladera Ranch CA 92694(949) [email protected]

West RegionKen GaitanRegional Director-Western999 Corporate Drive Suite 110 Ladera Ranch CA 92694(714) [email protected]

Western RegionMatt RogersRegional Director-West999 Corporate Drive Suite 110 Ladera Ranch CA 92694(714) [email protected]

Northwest RegionDavid ChristensenRegional Director-Northwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694(415) [email protected]

Notheast RegionKen WoodRegional Director-Northeast999 Corporate Drive Suite 110 Ladera Ranch CA 92694(203) [email protected]

Midwest RegionStratos AthanassiadesRegional Director-Midwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694(630) [email protected]

Midwest RegionTom BelsantiRegional Director-Midwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694(773) [email protected]

Mountain RegionFred BarrowRegional Director-Mountain999 Corporate Drive Suite 110 Ladera Ranch CA 92694(719) [email protected]

Southwest RegionNicolas JansRegional Director-Southwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694(214) [email protected]

Southwest RegionMark HuntonRegional Director-Southwest999 Corporate Drive Suite 110 Ladera Ranch CA 92694(602) [email protected]

The CriTTenden direCTory:real esTaTe FinanCing The Crittenden Directory: Real Estate Financing puts you in direct contact with today’s biggest commercial real estate players.

A membership offers complete access to our online directory which includes real estate lenders, investors, and buyers. Contact information includes titles, phone numbers, and email addresses.

SAMPLE DIRECTORY

LISTING


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New York Life

New York, NYNew York Life Real Estate InvestorsNew York Life Insurance Co.Life Company

TOTAL ASSETS:

ESTIMATED MORTGAGE PORTFOLIO:

PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2019 $6B

2018 $7B

Minimum Loan: $25MMaximum Loan: $250MTypical Rates:Typical Amort:Recourse Required:

SUBMISSION FACTSPreferred DSC: 1.35Preferred LTV: 65%Typical Fee:Typical Loan Length:Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGBridge Loan,Construction/Perm,Fixed-Rate Mortgage,Forward CommitmentFloating Rate

PROPERTY TYPE(S)Industrial Building/Warehouse,Mixed Use,Multifamily,Office,Retail

NOTESPreferred LTV: 55% - 65%

http://www.nylim.comCONTACTS

Eric BecherSenior Director51 Madison Ave. Suite 906 New York NY 10010(212) [email protected]

Rob BoydSenior Director1100 Abernathy Road N.E. Suite 1225 Atlanta GA 30328(770) [email protected]

Kirk KnissSenior DirectorOne Front St. Suite 550 San Francisco CA 94111(415) [email protected]

MIDWESTJohn HowardSenior Director303 W. Madison St. Suite 2050 Chicago IL 60606(312) [email protected]

SOUTHWESTLeslie CassinghamSenior Director4975 Preston Park Blvd. Suite 750 Plano TX 75093(972) [email protected]

New York Life

New York, NYNew York Life Real Estate InvestorsNew York Life Insurance Co.Life Company

TOTAL ASSETS:


PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2019 $6B

2018 $7B

Minimum Loan: $25MMaximum Loan: $250MTypical Rates:Typical Amort:Recourse Required:

SUBMISSION FACTSPreferred DSC: 1.35Preferred LTV: 65%Typical Fee:Typical Loan Length:Broker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGBridge Loan,Construction/Perm,Fixed-Rate Mortgage,Forward CommitmentFloating Rate

PROPERTY TYPE(S)Industrial Building/Warehouse,Mixed Use,Multifamily,Office,Retail

NOTESPreferred LTV: 55% - 65%

http://www.nylim.comCONTACTS

Eric BecherSenior Director51 Madison Ave. Suite 906 New York NY 10010(212) [email protected]

Rob BoydSenior Director1100 Abernathy Road N.E. Suite 1225 Atlanta GA 30328(770) [email protected]

Kirk KnissSenior DirectorOne Front St. Suite 550 San Francisco CA 94111(415) [email protected]

MIDWESTJohn HowardSenior Director303 W. Madison St. Suite 2050 Chicago IL 60606(312) [email protected]

SOUTHWESTLeslie CassinghamSenior Director4975 Preston Park Blvd. Suite 750 Plano TX 75093(972) [email protected]

Wells Fargo

San Francisco, CAWells Fargo Bank, NAWells Fargo & Co.Bank,SBA Lender

TOTAL ASSETS:


PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2017 $7B

Minimum Loan: $1MMaximum Loan:Typical Rates:Typical Amort:Recourse Required:

SUBMISSION FACTSPreferred DSC:Preferred LTV: %Typical Fee:Typical Loan Length: Seven to 25 yearsBroker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGCommercial Lines of Credit,Construction Loan,Fixed-Rate Mortgage,Lines of Credit,SBANon-Recourse Commercial Real Estate Mortgages

PROPERTY TYPE(S)Condominium,Gas Station,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Mixed Use,Multifamily,Office,OwnerUser,Restaurant,Retail,Self Storage

NOTES

http://www.wellsfargo.comCONTACTS

Michael PfaffVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Brendan BurkeVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Christina LangrallVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Chip BrinkmanVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Jon MartinManaging Director/Head of Large LoansReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

FL/CAROLINAS/VA/GA/TNJohn TinkeyManaging Director/Head of SoutheastReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

MidwestAJ WalkerDirector-Small Loan ContactReal Estate Capital Markets10 S. Wacker Drive 32nd Floor Chicago IL 60606(312) [email protected]

Duane HastingsManaging DirectorReal Estate Capital Markets1445 Ross Ave. 48th Floor Dallas TX 75202(469) [email protected]

Jon AlbertellManaging Director/Head of Northeast, Mid-Atlantic,MidwestReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

NortheastAustin LavertyVP-Small Loan ContactReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Daryl BookDirector-MD/DEReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Jeff SchorManaging Director-NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

NY/NJJoe TufarielloManaging Director-NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Robert CadeManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Kevin CowanManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Richard ObermanManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Robert RosenbergManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Terry LivingstonMng. Dir. - ConduitReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

VT/CT/RI/NH/ME/PAMike PetrizziDirector-NortheastReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Todd BarnettManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(949) [email protected]

Alan FlattManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(949) 251-4432 [email protected]

Kelly DixDirector-Small Loan/ConduitReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(415) [email protected]

CAEric SmithManaging Director-Small Loan/ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) [email protected]

Northern CA, NV, OR, WA, AKBill WhalenManaging Director, Head of Northwest Origination-ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) [email protected]

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Wells Fargo

San Francisco, CAWells Fargo Bank, NAWells Fargo & Co.Bank,SBA Lender

TOTAL ASSETS:


PRODUCTIONTOTALS

DOLLARVOL

# OFLOANS

2017 $7B

Minimum Loan: $1MMaximum Loan:Typical Rates:Typical Amort:Recourse Required:

SUBMISSION FACTSPreferred DSC:Preferred LTV: %Typical Fee:Typical Loan Length: Seven to 25 yearsBroker Submission: Yes

TERRITORYNationwide

TYPE(S) OF FINANCINGCommercial Lines of Credit,Construction Loan,Fixed-Rate Mortgage,Lines of Credit,SBANon-Recourse Commercial Real Estate Mortgages

PROPERTY TYPE(S)Condominium,Gas Station,Hotel,Industrial Building/Warehouse,Manufactured Home Communities,Mixed Use,Multifamily,Office,OwnerUser,Restaurant,Retail,Self Storage

NOTES

http://www.wellsfargo.comCONTACTS

Michael PfaffVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Brendan BurkeVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Christina LangrallVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Chip BrinkmanVPReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

Jon MartinManaging Director/Head of Large LoansReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

FL/CAROLINAS/VA/GA/TNJohn TinkeyManaging Director/Head of SoutheastReal Estate Capital Markets301 S. College St. 12th Floor Charlotte NC 28202(704) [email protected]

MidwestAJ WalkerDirector-Small Loan ContactReal Estate Capital Markets10 S. Wacker Drive 32nd Floor Chicago IL 60606(312) [email protected]

Duane HastingsManaging DirectorReal Estate Capital Markets1445 Ross Ave. 48th Floor Dallas TX 75202(469) [email protected]

Jon AlbertellManaging Director/Head of Northeast, Mid-Atlantic,MidwestReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

NortheastAustin LavertyVP-Small Loan ContactReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Daryl BookDirector-MD/DEReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Jeff SchorManaging Director-NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

NY/NJJoe TufarielloManaging Director-NY/NJReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Robert CadeManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Kevin CowanManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Richard ObermanManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Robert RosenbergManaging Director - Large LoansReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Terry LivingstonMng. Dir. - ConduitReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

VT/CT/RI/NH/ME/PAMike PetrizziDirector-NortheastReal Estate Capital Markets150 E. 42nd St. 38th Floor New York NY 10017(212) [email protected]

Todd BarnettManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(949) [email protected]

Alan FlattManaging DirectorReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(949) 251-4432 [email protected]

Kelly DixDirector-Small Loan/ConduitReal Estate Capital Markets2030 Main St. Eighth Floor Irvine CA 92614(415) [email protected]

CAEric SmithManaging Director-Small Loan/ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) [email protected]

Northern CA, NV, OR, WA, AKBill WhalenManaging Director, Head of Northwest Origination-ConduitReal Estate Capital Markets420 Montgomery St. Floor 6 San Francisco CA 94104(415) [email protected]

1 2

SAMPLE DIRECTORY

LISTING SAMPLE DIRECTORY

LISTING


5

Crittenden Conferences creates a bridge of information between the industry and its professionals, presenting the most advanced information to educate, challenge and inspire.

For over 30 years, Crittenden Conferences has provided the ideal occasion to create direct contact with today’s executives and tomorrow’s leaders. Crittenden has established a recognized platform where business professionals are given the necessary tools to build their companies and succeed in today’s market.

All paid members are eligible to receive 20% off registration fees to our three Real Estate conferences.

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S I N G L E U S E R

MeMbership paCkages

M U LT I P L E U S E R• Single-user login access to the online Crittenden Directory: Real

Estate Financing• Single recipient to The Crittenden Report: Real Estate Financing • 20% discount on registration fees for all Crittenden Conferences

P l a t i n u m

• Company-wide access to the online Crittenden Directory: Real Estate Financing

• Company-wide distribution to The Crittenden Report: Real Estate Financing

• 20% discount on registration fees for all Crittenden ConferencesIf Appplicable Lender:

• 1 Email Ad sent on your company’s behalf to our real estate database• Logo featured on your directory listing with top placement

$10,000

G o l d

• Up to 10 user logins to the online Crittenden Directory: Real Estate Financing

• Up to 10 recipients to The Crittenden Report: Real Estate Financing

• 20% discount on registration fees for all Crittenden ConferencesIf Appplicable Lender:

• Logo featured on your directory listing with top placement

$5,000

S i l v e r

• Up to 3 user logins to the online Crittenden Directory: Real Estate Financing

• Up to 3 recipients to The Crittenden Report: Real Estate Financing • 20% discount on registration fees for all Crittenden Conferences

$2,500

Semi-Annual Membership $499.00

2-Year Membership$1,741.00

Annual Membership$967.00

3-Year Membership$2,466.00


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MeMbership regisTraTion

Platinum

$10,000

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$5,000

Silver

$2,500

Single User 2-Year

$1,741

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