Commercial Mortgage Loan Program

Current Loan Portfolio

$8 Billion

2025 Production Goal

$1.8 Billion in Commitments
(66% perm / bridge loans, 33% construction loans)

Collage of different property types

Property Types

The Mortgage Loan Division of Eagle Realty Group offers an array of fixed-rate financing for commercial property.

100 – 400 units
< 25% office buildout
100 room minimum, Prime locations, top operators
Independent & Assisted Living, Memory Care, Private Pay
24,000 sf minimum, On/near campus, >50% hospital affiliated tenants
200 lot minimum
New, grocery-anchored
On/near campus, 100 unit minimum
400 unit minimum

Note: 1990’s or newer with some exceptions in core locations and value-add multi-family.
No office or single tenant retail (unless tenant is investment grade credit).

Markets & Correspondents

Conventional & Bridge Loans

Loan Amounts $15M - $90M. Targeting $25M to $75M. Up to $250M for portfolio transactions.
Loan Sizing Up to 70% LTV and up to 85% LTC on new construction refinance.
Loan Terms 3 to 10 years
Current Spreads Current minimum spread is 190 bps over the corresponding US Treasury rates. 175 bp spread available on stabilized (CM1), Class A apartment loans with 7-10 year terms. Minimum 275 bp spread on hospitality.
Amortization / IO 25 & 30 year amortization and up to 5 years IO depending on LTV.
Lender Fees 35–100 bps, minimum of $50,000.

Unique Products for Pre-Stabilized & Value-Add Opportunities

Hybrid 3+1+1 or 5+1+1 Fixed-Rate To Floating-Rate Structure
Initial 3-5 year fixed-rate period is subject to YM prepayment premiums. Floating rate extension periods are open for prepayment at par, but subject to achieving a pre-negotiated debt yield test and extension fee (10 bps).
36-42 Month, Fixed-Rate Bridge Loan
Minimum 24 months YM, then step down in year 3 (2%, 1%), open at par the last 3-6 months.

Construction Loans

Loan Amount $30M to $80M, < 65% of total development budget
Property Types Multifamily, Industrial, Grocery Anchored Retail, and select Hospitality
Loan Fee 1.0% origination; 1.0% exit, open at par the last 3-6 months
Term 4 to 6 years
Interest Rate Floating rate at 300 to 400 bps over 1-month term SOFR, with a SOFR floor of 300 bps.
Minimum Multiple / Interest 1.15X minimum multiple on the committed loan amount, or 42 months minimum interest
Extension Fees NONE
Cap or Swap Requirements Not Required
Reduced Exit Fee Fee can be reduced to 50 bps if Borrower and Lender agree to a new, fixed rate loan with at least 36 months call-protected term. New loan may include additional "cash out" proceeds.
Completion Guaranty Guarantors will provide a completion and payment guaranty.
Stabilization Guaranty Following completion, Guarantors will provide a stabilization guaranty to unconditionally guaranty and act as surety for the payment of 25%-50% of the Note and the performance of all Borrower’s obligations. Guaranty is released at stabilization.

Representative 2024 Transactions

Canopy by Hilton, Boston MA
TERM LOAN
Canopy by Hilton Boston Downtown (Boston, MA)
212 Keys
$80,000,000
3-year term (w/ extension options)
25-year amortization
JLL
Press House Apartments, Washington DC
TERM LOAN
Press House Apartments (Washington, D.C.)
356-Unit Luxury Apartment Complex
$77,000,000
3.5-year term
30-year amortization
Bellwether Enterprise
I Shops at International Drive, Orlando FL
TERM LOAN
I-Shops at International Drive (Orlando, FL)
78,668 Square Foot, Retail
$33,000,000
3.5-year term
30-year amortization
CBRE
Alligood Industrial Park, Lebanon TN
TERM LOAN
Alligood Industrial Park (Lebanon, TN)
411,150 Square Foot, Industrial
$40,000,000
5-year term
30-year amortization
JLL
The Cartwright, Irvine CA
TERM LOAN
The Cartwright (Irvine, CA)
272-Unit Luxury Apartment Complex
$82,000,000
5-year term
30-year amortization
Northmarq
Willow Pines Retirement Community, Northville MI
TERM LOAN
Willow Pines Retirement Community (Northville, MI)
128-Net Rentable Independent Living Units
$38,600,000
3.5-year term
30-year amortization
Newmark
Landing at Lemay, Fort Collins CO
CONSTRUCTION LOAN
Landing at Lemay Apartments (Fort Collins, CO)
344-Unit, Multifamily Development
$69,500,000
5-year term
30-year amortization
American Mortgage & Realty Corp.
Monon Square Apartments, Carmel IN
CONSTRUCTION LOAN
Monon Square Apartments (Carmel, IN)
247-Unit, Multifamily Development
$56,750,000
5.5-year term
30-year amortization CBRE

Contacts

Greg Rowe

Greg Rowe

Senior Vice President, Real Estate Debt Investments
513-361-7790
greg.rowe@eaglerealtygroup.com
Tom Stanek
Tom Stanek
Senior Vice President, Real Estate Investment Reporting & Analysis
513-361-7845
tom.stanek@eaglerealtygroup.com
Scott Beck

Scott Beck

Nick Emms
Nick Emms
Trevor Kirbabas
Trevor Kirbabas
Alex Williams
Alex Williams
Ryan Green
Ryan Green
Senior Investment Analyst
513-361-7745
ryan.green@eaglerealtygroup.com
Elizabeth Olson
Ellie Olson
Samuel Steiden
Sam Steiden
Jack Walsh
Jack Walsh
Caleb Smith
Caleb Smith
Mortgage Portfolio Asset Manager
513-361-7837
caleb.smith@eaglerealtygroup.com
Nick Arszman
Nick Arszman
Senior Real Estate Closing Specialist
513-361-7838
nick.arszman@eaglerealtygroup.com
Miranda Hart
Miranda Hart
Real Estate Closing Specialist
513-361-7774
miranda.hart@eaglerealtygroup.com
Amanda Bolton
Amanda Bolton
Senior Mortgage Loan Asset Administrator
513-361-7782
amanda.bolton@eaglerealtygroup.com
Ryan Conger
Ryan Conger
Mortgage Loan Asset Administrator
513-361-7797
ryan.conger@eaglerealtygroup.com
Rebecca Brunett
Becky Brunett
Real Estate Investments Specialist
513-361-7784
becky.brunett@eaglerealtygroup.com
Sarah Vierling
Sarah Vierling
Real Estate Investments Specialist
513-361-7748
sarah.vierling@eaglerealtygroup.com
Queen City Square building

About Eagle Realty Group

Eagle Realty Group, led by Paul Silva, is a real estate developer and debt and equity capital provider on behalf of the member companies of Western & Southern Financial Group. The company’s expertise in real estate development is documented by an array of successful ventures ranging from the Queen City Square office development to low-income housing. The company’s financial products include equity joint ventures and mortgage loans for institutional-quality assets ranging from $15 million to $90 million. Property types vary by portfolio and include office, medical office, multifamily, senior housing, mobile homes, retail, warehouse, industrial and hospitality. As of September 30, 2024, Eagle Realty Group oversees portfolios consisting of 86 equity investments and 320 mortgage loans located throughout the United States and total assets under management valued in excess of $9 billion.

About Western & Southern Financial Group

Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, Western & Southern Financial Group, Inc., a Fortune 500® company at No. 284, is the parent company of a group of diversified financial services businesses. Its assets owned ($80 billion) and managed ($42 billion) totaled $122 billion as of Sept. 30, 2024.1 Western & Southern is one of the strongest life insurance groups in the world. Its seven life insurance subsidiaries (The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Gerber Life Insurance Company,2 Integrity Life Insurance Company, The Lafayette Life Insurance Company, and National Integrity Life Insurance Company) maintain very strong financial ratings. Other member companies include Eagle Realty Group, LLC; Fabric by Gerber Life; Fort Washington Investment Advisors, Inc.;3 Gerber Life Agency;4 IFS Financial Services, Inc.; Touchstone Advisors, Inc.;3 Touchstone Securities, Inc.;5 W&S Brokerage Services, Inc.;3,5 and W&S Financial Group Distributors, Inc.6  Western & Southern is a title sponsor of several major community events every year. From 2002 to 2023, it served as title sponsor of Cincinnati’s longtime professional tennis tournament – now named the Cincinnati Open – an ATP Masters 1000 and WTA 1000 event and one of the world’s largest tournaments. The company continues to serve as a major sponsor of the event.