CMBS Underwriting

We service CMBS & SFR portfolio lenders, B-piece investors, property owners and the brokerage community with unsurpassed reliability.

Our experts combine the latest local market intelligence, current sentiment, emerging trends and future forecasts to develop a customized forward-thinking execution strategy for each assignment. A breadth of technical skills and team dedication uniquely qualifies us to address any timing challenge and all property types including:

• Manufactured Housing
• Single Family Rental
• Seniors Housing
• Multifamily
• Self-Storage
• Hospitality
• Industrial
• Retail
• Office

Leveraging Armada Analytics’ capacity, market knowledge and capital markets expertise to optimize executions, our team becomes your team; your needs and objectives are always front-of-mind in our execution of your assignment.

Our capabilities include:

• Full or limited scope commercial real estate loan underwriting due diligence
• Secondary Market Investor Analysis
• Securitization & Servicing Support
• Template & Process Design
• Shadow Desktop Review
• Collateral Assumptions
• Cash Flow Modeling
• Portfolio Packaging
• Lease Abstracting
• S.W.O.T. Analysis

Sample scope of work:

• Review sizing and loan structure
• Critically examine historical cash flows and rent roll to identify issues and prepare proforma underwriting.
• Lease reviews, rollover and TI/LC analysis
• Recommend credit enhancements, earn-outs, holdbacks, reserves, and appropriate release parameters.
• Critically review third party reports
• Investigate sponsor credit, history, and financials
• Perform site inspection, collect market data, analyze comparables, and interview market participants.
• Identify strengths/weaknesses and mitigants to risks.
• Credit memorandum and asset summary preparation for presentation to credit committee.
• Closing and securitization support.