Commercial Real Estate

Lending Program

Värde is a leading investor in commercial mortgage credit markets. We focus on providing flexible capital and certainty of execution to meet the needs of experienced real estate investors as a non-recourse, balance sheet lender financing all major asset classes.

Loan
Origination

$7B+ originated since 2017
LOAN CHARACTERISTICS
ORIGINATION CRITERIA

Target Size

Minimum $40m – $125m

Property Types

Multifamily, Industrial, Self Storage, Hospitality, Life Science, Medical Office, Student Housing with select Retail and Office

Geography

Nationwide

Term

Up to 5 years, including extensions

Maximum Loan-to-Value

Up to 80% loan-to-value (decreasing based on property type)

Minimum Note Rate

SOFR-based rate +275 (minimum increasing based on property type); interest only, with amortization during extension periods

Prepayment

Allowed at any time; subject to minimum interest

Lender Fees

1.0% origination fee; 0 – 0.5% exit fee; 0.25% – 1.0% extension fee

Extension Tests

Debt yield and loan-to-value tests

Structural Considerations

Upfront reserves; future funding for leasing and capital costs; earnouts on a case-by-case basis; release flexibility

Recent Transactions