CMBS Financing Solutions for Commercial Real Estate
Fixed-Rate • Non-Recourse • Institutional Execution
CMBS financing is long-term, fixed-rate, non-recourse capital secured against stabilized commercial real estate, with the loan pooled and securitized into commercial mortgage-backed securities sold to institutional investors. CMBS debt is underwritten against the asset's in-place cash flow, DSCR durability, and conduit pool eligibility, applying institutional servicing standards through the term of the loan. With more than 70 years of combined capital markets leadership experience, Cornovus Capital manages the full CMBS process, from initial underwriting and third-party diligence coordination through lender structuring and closing execution, applying institutional discipline and capital markets precision at every phase of the engagement.
Our advisory team manages the full CMBS process for sponsors nationwide, from initial underwriting and third-party diligence coordination through conduit lender interface, structuring, and closing execution, ensuring clarity and execution certainty throughout the transaction. CMBS loan sizes range from $3 million to $200 million and above with 5, 7, or 10 year fixed-rate terms, 25 to 30 year amortization, and leverage up to 75% LTV with 1.25x DSCR minimum. For sponsors evaluating CMBS financing, Cornovus Capital structures conduit executions for acquisitions, refinancings, recapitalizations, and long-term permanent financing strategies across hospitality, multifamily, retail, office, industrial, and mixed-use assets.
Typical CMBS Loan Terms
| Property Types | Hospitality, retail, office, industrial, multifamily, and self-storage |
| Loan Size | $3 million to $200 million+ |
| Leverage | Up to 75% LTV / 1.25x DSCR minimum |
| Term | 5 to 10 years, fixed rate, balloon at maturity |
| Amortization | 25 to 30 years, interest-only options available |
| Recourse | Non-recourse; standard carve-outs apply |
| Closing Timeline | 45 to 75 days from executed term sheet and due diligence |
Key Highlights
- Stabilized assets only: Designed for income-producing commercial real estate with consistent NOI.
- Long-term financing horizon: 5 to 10-year fixed rates with amortization up to 30 years.
- Non-recourse execution: Protects sponsors from personal liability outside standard carve-outs.
- Institutional placement: Conduit execution with national CMBS lenders and investors.
Who Qualifies for CMBS Financing?
- Developers and investors with stabilized income-producing properties.
- Borrowers seeking long-term fixed-rate execution with predictable servicing.
- Institutional sponsors refinancing legacy debt or recapitalizing portfolios.
- Property owners targeting non-recourse, securitized takeouts post-stabilization.
About Cornovus Capital
With more than 70 years of combined capital markets leadership experience, Cornovus Capital is a national institutional commercial real estate and business capital advisory firm. Led by principals and senior advisors across institutional credit, capital placement, asset management, and hospitality ownership, we perform institutional-grade underwriting on every engaged transaction and place credits with pre-qualified capital partners matched to the transaction's credit profile, structure, asset class, and geography.
Our expertise spans seven debt silos: CMBS and Conduit, Bridge and Structured Debt, SBA 7(a), SBA 7(a) 100% CRE, SBA 504, Conventional Multifamily (Agency and LifeCo), and Student Housing, with a Hospitality Owner's Representation overlay led by principals with direct owner-operator experience across the full asset lifecycle. Our quantitative underwriting platform applies institutional credit standards across every transaction, delivering depth, consistency, and turnaround speed.
For insight into the broader interest rate and monetary policy environment influencing commercial real estate financing, visit the Federal Reserve's Monetary Policy resources for insights into national commercial real estate performance.
Connect with Cornovus Capital
CMBS financing supports stabilized, cash-flowing commercial real estate nationwide with long-term, fixed-rate, non-recourse debt across hospitality, multifamily, retail, office, industrial, and mixed-use asset classes. For active acquisition, refinance, recapitalization, or expansion opportunities, begin with the appropriate financing request. For early-stage discussions, use our inquiry path to confirm program fit and execution strategy.
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