CMBS Transactions



CMBS Conduit Program for Commercial Lending

The CMBS Conduit program offers commercial lending to eligible office, retail, industrial, multifamily, and hotel properties nationwide.  The program offers Oppenheimer customers through a third party lender, an alternative financing option to traditional multifamily and healthcare programs for a variety of asset classes.

Eligible Borrowers:

Single Asset Entity, Typical assets rated B minus and above, Average DSC ratio greater than 1.25 in the three most recent audited years.

Loan Term:

Fixed:  5, 7, and 10 year terms with up to 30 year amortizations available.

Loan Amount:

Loan to value not to exceed 75%,  $2 million and up.

Interest Rate:

Subject to market conditions, based on competitive swap based pricing


Closing and underwriting are performed simultaneously, closing usually within 60 days.

Personal Liability:

Non-recourse to key principals except for customary carve-outs.


Expense deposit required to cover third party reports, legal fees and other customary costs.  Commercial Lending Originations fee generally at par.  Underwriting fee generally $7,500.


  • An appraisal, ESA and engineering assessment are required.
  • Engineering assessment requires a 12 year escrow analysis for reserve calculation.
  • 3 years of financial statements, current rent roll, property information and pictures, borrower description are required.
  • NOI based off current rent roll using the greater of actual expenses (with a 4-5% management fee)
  • Cash management requires hard lockbox processing.

This is a general outline of the program requirements.  For complete information and to determine how your property can benefit from this accelerated financing opportunity, please contact your Oppenheimer representative at [email protected], or call (215) 631-9151.

icon-pdf OPCO CMBS Conduit.pdf



“I have worked on many transactions with Oppenheimer Multifamily Housing & Healthcare Finance, Inc.; This institution has proven to be highly competent in all areas, responsive to clients’ needs, resilient in problem solving and well resourced with capable professionals of all disciplines, resulting in a great team that always delivers on time.”

Joseph H. Vives
Vives & Associates PLLC