LifeCo Loan Financing Solutions for Commercial Real Estate
Long-Term • Fixed-Rate • Institutional Execution
LifeCo financing is long-term, fixed-rate, non-recourse permanent capital from life insurance company balance sheets, structured for core and core-plus stabilized commercial real estate. LifeCo debt is underwritten against the asset's in-place cash flow, DSCR durability, sponsor institutional quality, and balance-sheet fit with the life insurance company's investment mandate, typically offering lower spreads than CMBS for the highest-quality assets. With more than 70 years of combined capital markets leadership experience, Cornovus Capital structures LifeCo executions aligned with sponsor objectives, navigating insurance company underwriting requirements with institutional discipline and capital markets precision at every phase of the engagement.
Our advisory team manages the full LifeCo process for sponsors nationwide, from initial underwriting and third-party diligence coordination through insurance company lender interface, structuring, and closing execution, ensuring clarity and execution certainty throughout the transaction. LifeCo loan sizes range from $7 million to $150 million and above with 5 to 30 year fixed-rate terms, 20 to 30 year amortization, and leverage up to 75% LTV. For sponsors evaluating LifeCo financing, Cornovus Capital structures and places long-term fixed-rate executions for acquisitions, refinancings, recapitalizations, and permanent financing strategies across office, industrial, multifamily, retail, and high-quality hospitality assets.
Typical LifeCo Loan Terms
| Loan Size | $7 million to $150 million+, depending on property type, market, and sponsorship |
| Leverage | Up to 75% LTV for stabilized income-producing assets |
| Amortization | 20 to 30 years; interest-only periods available |
| Term | 5 to 30 years fixed-rate; extension options based on structure |
| Recourse | Non-recourse with standard carve-outs |
| Rates | LifeCo spreads tied to U.S. Treasuries, typically lower than CMBS or bank alternatives |
| Prepayment | Yield maintenance, step-down, or defeasance structures available |
| Closing Timeline | 30 to 60 days from executed term sheet and diligence completion |
Who Qualifies for LifeCo Loan Financing?
- Institutional and private owners with stabilized, income-producing commercial assets.
- Sponsors transitioning from bridge or CMBS executions into long-term LifeCo debt.
- Developers or investors refinancing core or near-core stabilized properties.
- REITs and portfolio owners executing recapitalization or balance-sheet restructuring.
Eligible Property Types
- Office, industrial, medical, and corporate headquarters.
- Retail centers or anchored shopping complexes.
- Hospitality and multifamily assets with proven NOI performance.
- Mixed-use or diversified portfolios with institutional-quality tenancy.
Ineligible LifeCo Loan Transactions
- Transitional or value-add properties without stabilized cash flow.
- Speculative developments or construction-only projects.
- Single-tenant or owner-dependent assets lacking institutional tenancy.
- Borrowers with insufficient liquidity or financial history to meet LifeCo requirements.
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: Conventional Multifamily (Agency and LifeCo), CMBS and Conduit, Bridge and Structured Debt, SBA 7(a), SBA 7(a) 100% CRE, SBA 504, 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
LifeCo financing supports core and core-plus stabilized commercial real estate with long-term, fixed-rate, non-recourse capital from life insurance company balance sheets, typically offering lower spreads than CMBS for the highest-quality institutional assets. 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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