Innovative Capital Advisors, LLC, originators of small balance commercial mortgage loans, announced the closing of its first lending period utilizing its new structure: ICA Investment Period 2012-1. The loans totaled $20,012,000 of small balance commercial loans originated by ICA. They consist of 14 loans from 9 states with an average current LTV of 69.16%, net rate of 4.804 % and DSC of 1.55 x. The loans were made at a rate which provides a yield approximately 305 basis points over the 10-year Treasury. ICA has now underwritten and closed on approximately 370mm of small balance commercial loans in its trusts and new Investment Period structure.
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