Commercial mortgages at Protective Life

Commercial mortgages

Specialized lending to help enable your commercial development projects

Our lending focus

With an emphasis on careful management and a focus on specialized market segments, Protective puts its experience to work for commercial real estate developers and owners across the United States.

We specialize in making real estate loans on credit-oriented or credit-anchored commercial properties, including credit-anchored retail centers, single-tenant credit industrial, single-tenant office, multi-family assets and medical offices.

Commercial mortgage guidelines and criteria

Protective deploys roughly $1.5 billion annually on commercial real estate loans. A high level outline of our lending criteria is included below:

Loans ranging from $3 million to $50 million, depending on the type of project.
Forward rate lock available - up to 12 months with a rate premium or fee
75% maximum loan-to-value ratio
Minimum debt service coverage of 1.20 (25 year amortization)
Loan types include:
- Long-term, fixed-rate; fully amortizing or balloon structure
- Participation

Financing available for select property types

Protective focuses on property types within these segments:

Anchored shopping centers

We finance shopping centers that are anchored by one or more creditworthy regional or national tenants on long-term leases which focus on the necessities of life.

Freestanding single-tenant

Within the freestanding, single-tenant segment, Protective focuses on properties with long-term leases to creditworthy tenants.

Medical office buildings

Protective looks for properties that are doctor-owned with a lease guaranty or properties with a long-term lease to a creditworthy tenant. Preference is shown to properties in close proximity to a hospital campus.

Industrial warehouse or distribution properties

We finance properties with long-term leases to creditworthy tenants or owner-occupants. Preference is shown to concrete tilt-up, minimum 28 foot ceiling heights and 15% or less office finish in industrial park locations.

Multi-family properties

Projects in this category focus on high quality, multi-family dwellings. Properties should have a stable operating history and experienced management.