CMBS Checklist

Purchase

Refinance

Hotel Purchase CMBSLoan Checklist

Download

Part 1: Guarantors’ Financials

1. Download the following zip file. It is an excel form with two tabs, one for your real estate under personal ownership, the other all your business partnerships (affiliates)
2. Last statements for checking and saving account, stock and IRA/401K account, and the life insurance if there is a cash surrender value
3. Last mortgage statement for all real estate owned
4. Consumer Experian and Equifax credit reports from www.annualcreditreport.com or Credit Karma
5. Three years of personal electronic FULL COPY of federal 1040 returns
6. A copy of drives license
7. Guarantor’s financial of the other affiliates owned at 20% or more:
   • Three years of federal tax return of the affiliates
   • Affiliate’s interim financial statement (profit and loss and balance sheet)
   • Affiliate’s Last mortgage statement

Part 2: Hotel’s Financials

1. Three years of hotel’s electronic FULL COPY of federal tax returns
2. Three years of financial statements
3. Trailing-12financial statement
4. Purchase and Sale agreement
5. Last quality inspection report if a franchise hotel
6. STAR reports for the December of previous 2 years
7. STAR report of the last month available
8. Manager’s statistics report from the franchise management system as of prior day and as of December 31st of the past two years
9. Top 10 accounts reports
10. Customer segmentation: percentage of occupancy for the transient, freeway, business, contracts, and others
11. Copy of any business contracts if applicable
12. Capital expenditure (Major items and the corresponding costs) for the past two years
13. Hotel specifications: Year built, Rooms (interior/exterior), Number of buildings and floors, square footage of the building and acreage of the land,etc.
14. A copy of the last survey from the seller
15. Last appraisal and phase I report if available from the seller

Hotel Refinance SBA/USDALoan Checklist

Download

Part 1: Guarantors’ Financials

1. Download the following zip file. It is an excel form with two tabs, one for your real estate under personal ownership, the other all your business partnerships (affiliates)
2. Last statements for checking and saving account, stock and IRA/401K account, and the life insurance if there is a cash surrender value
3. Last mortgage statement for all real estate owned
4. Consumer Experian and Equifax credit reports from www.annualcreditreport.com or Credit Karma
5. Three years of personal electronic FULL COPY of federal 1040 returns
6. A copy of drives license
7. Guarantor’s financial of the other affiliates owned at 20% or more:
   • Three years of federal tax return of the affiliates
   • Affiliate’s interim financial statement (profit and loss and balance sheet)
   • Affiliate’s Last mortgage statement

Part 2: Hotel’s Financials

1. Three years of hotel’s electronic FULL COPY of federal tax returns
2. Three years of financial statements
3. Trailing-12financial statement
4. Promissory note if it is a refinance
5. Last mortgage statement
6. A copy of the franchise agreement
7. Last quality inspection report
8. Last cleared Property Improvement Plan (PIP) report unless a new PIP Is issued by the franchise
9. STAR reports for the December of previous 2 years
10. STAR report of the last month available
11. Manager’s statistics report from the franchise management system as of prior day and as of December 31st of the past two years
12. Customer segmentation: percentage of occupancy for the transient, freeway, business, contracts, and others
13. Copy of any business contracts
14. Capital expenditure (Major items and the corresponding costs) for the past two years
15. Hotel specifications: Year built, Rooms (interior/exterior), Number of buildings and floors, square footage of the building and acreage of the land,etc.
16. A copy of the last survey
17. Last appraisal and phase I report if available