Has anyone seen any Life Companies willing to do partial or even full term IO for lower leverage loans (50-60% LTC) on neighborhood retail (~$5-15M loans)? I'd kill for a relationship lender I could use for smaller deals like this in multiple markets, rather than finding a new local or regional bank every time...
Assume Class-A product with high % national tenants, in strong MSAs.
Protective Life is doing these deals. We haven't been able to get any IO out of them at 65%. Maybe lower leverage you can scrape up some IO.
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