Commercial Real Estate Division

Commercial Real Estate - Fannie mae

Fannie Mae Student Housing Multifamily Loan Program Guidelines:

Eligible Properties:

  • Existing, stabilized properties that have a student tenant base and are not readily convertible to conventional multifamily housing.

  • Properties typically have undergraduate or graduate students comprising a minimum of 80% residency that were specifically constructed as student housing facilities, or built as conventional multifamily housing that function as dedicated student housing. 

  • Eligible properties typically are located at or near a college or university with a minimum of ten thousand students, the majority of which are full-time. Property should be located within a two mile radius of campus. 

  • Have twelve month leases with parental guarantees preferred.

  • Not be on university-owned land nor offer food service. 

Ineligible Properties:

  • Properties that don't meet the minimum requirements for the Dedicated Student Housing Loan program may be processed under the Fannie Mae Standard Multifamily program.

Loan Size:

  • $1,000,000 with no maximum. 

Maximum Loan-to-Value:

  • ​​75% LTV.

Maximum CLTV:

  • 100% is possible with Joint Venture

Eligible Locations:

  • All 50 states, Puerto Rico, U.S. Virgin Islands, and Guam.

Fixed Rate Term:

  • Up to 30 years

Amortization:

  • 30 years. 

Minimum DSCR:

  • 1.30

Prepayment Penalty:

  • The greater of 1% or yield maintenance.

Guarantee:

  • Non-recourse for most loans subject to standard carve-outs.

Assumable:

  • Yes, subject to lender approval.

Escrows:

  • Tax and insurance required on higher leveraged loans.

Third Party Reports:

  • Appraisal, Market Study, Phase I Environmental, Engineering Report and Seismic where applicable.  

Sponsor Requirements:

  • Strong operators with a proven track record in student housing.

 

 Synergy Capital Markets

9453 De Soto Avenue

Suite M

Chatsworth, California 91311
 

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Synergy Capital Markets, is an institutional alternative real estate finance investment adviser, investor and underwriter. Synergy Capital Markets does not offer, and does not offer to provide any broker dealer or market maker services. Synergy Capital Markets operates this website at www.SynergyCapitalMarkets.com (referred to as the “Website”). By accessing this Website and any pages thereof, you agree to be bound by its Terms of Use and Privacy Policy. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. We do not provide financial planning services to individual investors. Synergy Capital Markets does not provide tax advice and does not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should conduct their own due diligence, not rely on the financial assumptions or estimates displayed on this Website, and are encouraged to consult with their own financial advisor, attorney, accountant, and any other professional that can help you / them to understand and assess the risks associated with any real estate investment opportunity. Full Disclosure

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