Berkadia Commercial Mortgage Announces
Launch of New Floating-Rate Bridge Loan
Program to offer rare two-to-three year, non-recourse loans
March 21, 2011 11:27 AM Eastern Daylight Time
HORSHAM, Pa.--(EON: Enhanced Online News)--Berkadia Commercial Mortgage LLC (Berkadia) today
announced the launch of a new floating-rate commercial mortgage program. The program, available through
Berkadia’s nationwide loan origination network, will offer bridge loans to eligible borrowers seeking to acquire or
reposition properties using non-recourse commercial mortgage debt. Berkadia will service the loans and seek to
provide permanent financing upon stabilization of the properties’ operations.
“We’re pleased to have the resources to provide these much-needed loans to our current customers and prospects.
We believe we’re filling a void in the marketplace – these are exactly the types of loans that borrowers want and
need right now,” said Hugh Frater, chief executive officer at Berkadia.
The product launch represents a substantial program, funded using proprietary Berkadia capital. The loans will
finance and recapitalize commercial properties in all the core commercial property types, including office, industrial,
retail and multifamily. The non-recourse bridge loans will be LIBOR-based, floating-rate commercial mortgages.
While the loan term is flexible, terms will typically be two to three years. Berkadia intends to focus on middle-market
lending opportunities with typical loans ranging from $10 - $20 million, but with the potential to do larger or smaller
“We are committed to strong sponsors seeking to finance high-quality properties,” said Frater. “We believe
borrowers needing bridge loans are finding limited opportunities, particularly for smaller balance loans. In today’s
environment investment banks are focusing on bigger deals and the regional banks are still working through their
Berkadia Commercial Mortgage LLC is a highly rated special, master and primary servicer managing a portfolio of
approximately $214 billion as of Dec. 31, 2010. As a correspondent for insurance companies and other capital
providers and a leading approved lender for Fannie Mae, Freddie Mac and HUD/FHA, Berkadia offers clients
access to capital sources for the acquisition, construction, rehabilitation or refinance of commercial real estate
To learn more about Berkadia, please visit www.berkadia.com.
©2011 Berkadia Commercial Mortgage LLC.All rights reserved.
Berkadia Commercial Mortgage LLC
Joyce Patterson, 215-328-3842