CMBS in Arizona is a choice, not a default. Capital Market Funds originates conduit and single-asset loans for sponsors who need the CMBS box and can live with prepay, cash management, and special servicing after closing. We are not the issuer and not the conduit.
Life company is usually the cleaner permanent quote for core industrial, multifamily, and retail. Bank debt is usually cleaner when the sponsor wants a portfolio hold. CMBS is the conversation when those sources will not stretch on proceeds or will not take the asset. If your file is actually life company or agency, we will send it there.
No CMBS tombstone is published on this site. We will not invent a conduit closing to rank for the term. Pricing follows swaps or Treasuries plus the new-issue spread at the time. Indicative context is on the rates page. A spread on a webpage is not a term sheet.
When CMBS is the wrong box
- Life company
Permanent debt for core cash flow. Rate lock is typically at application.
- Bank and credit union
Portfolio hold when the relationship, not a securitization box, is the point.
- Fannie Mae
Stabilized Arizona multifamily. Originated to Fannie Mae. Not a DUS lender.
- Permanent
Stabilized senior debt once the asset is a cash-flowing story.