Commercial mortgages are term loans secured by real estate. Businesses usually take out commercial mortgages to buy real property or construct or improve buildings. Mortgages are typically written as a percentage of the appraised value of the property, usually 60-80 percent. Commercial mortgages are often written for longer durations than other term loans. A commercial mortgage has longer lead times and higher up-front costs than other forms of financing because of the need for appraisals, title searches, title insurance, environmental site assessments and the like.
Interest rates are comparable to conventional term loans.
We serve our clients, who include major international corporations, regional middle-market companies, and individuals, in traditional and emerging areas of practice.