Credit Tenant Lease (CTL) transactions are structured as private placement bonds that primarily focus on the creditworthiness of the tenant and the lease structure and secondarily on the property type, quality and location of the real estate.
Credit Tenant Loan Underwriting:
- Investment Grade or equivalent tenants
- Up to 100% LTV
- 1.00 to 1.05 x DSCR
- 0% vacancy allowance
- Fully amortizing
- All property types financed
- $2 - $500 million
| Sample Credit Tenant List | ||
|---|---|---|
| CVS | Kroger | Bank of America |
| Walgreen's | Wegman's | Wells Fargo |
| Walmart | Publix | PNC |
| Lowe's | HEB | Chase |
| Home Depot | Hy-Vee | Pepsico |
| Kohl's | IBM | Costco |
| The sample tenant list above is based on Investment Grade Bond Rating and subject to addition and deletion due to fluctuation in Bond Ratings. | ||