Tap to get financing
CMBS Loans
Property types
Mobile Home Park CMBS LoansHospital CMBS LoansIndustrial CMBS LoansHotel CMBS LoansRetail CMBS LoansSelf-Storage CMBS LoansMixed-Use CMBS LoansOffice CMBS LoansApartment CMBS LoansCMBS Property Types
Loan basics Loan terms
About
TeamLeadership
Loan docs Blog CMBS Alternatives
Get financing
Newly Published
Jun 14 at CMBS Loans
Pooling and Servicing Agreements: What CMBS Borrowers Need to Know
Jun 14 at CMBS Loans
CMBS Servicing: What Borrowers Need to Know
Jun 14 at CMBS Loans
CMBS and REITs: What Commercial Borrowers Should Know
Explore the Janover Network
Mar 29 at Commercial Real Estate Loans
The Advantages and Risks of Buying Distressed Properties
Mar 28 at Multifamily Loans
Why Smaller, "Boutique" Apartment Buildings Can Be Great Investments
Mar 28 at Multifamily Loans
6 Ways AI Is Revolutionizing Apartment Investing
Was This Article Helpful?
Last updated on Nov 28, 2022
4 min read

CMBS Loan Forms and Documents

All the loan documents, forms, and templates you'll need to get started with the CMBS loan application process for multifamily and commercial properties.

Apply for a loan in minutes and get multiple quotes today → Get Quotes

In this article:
  1. Borrower Forms and Templates
  2. Property Forms and Templates
  3. Get Financing

Having the right loan documents and forms is a must if you want to apply for a CMBS loan. These will provide your lender with specific information about you, the borrower, as well as the property itself. Below, you’ll find standard forms/templates available for download, including a PFS (personal financial statement), an SREO (schedule of real estate owned), a rent roll, and a last 3-years operating budget and pro forma, among others.

Since CMBS financing can be used to finance both multifamily and purely commercial properties (i.e. office, retail, industrial, etc.), we’ve included forms for each of these property types below, when appropriate.

Borrower Forms and Templates

Click to Download a PFS (Personal Financial Statement) Template

A PFS, or personal financial statement, is designed to give a lender the ability to estimate the financial strength of the principal borrower or borrowers. It lists a borrower’s assets and liabilities as well as their total net worth. Unlike banks, HUD, and agency lenders, there aren’t strict net worth and liquidity requirements for CMBS, but borrowers will still need to have a reasonable amount of assets (often varying based upon the borrower’s experience and loan’s leverage).

Click to Download an SREO (Schedule of Real Estate Owned) Template

An SREO, or schedule of real estate owned, lists all other real estate investments that a borrower owns, including information such as the estimated value of the property, the current NOI, the current outstanding loan balance, and other important financial information.

Click to Download an Organizational Chart

An “org chart,” or organizational chart, visually depicts how a borrowing entity is structured. In commercial real estate, organizational structures can sometimes be complex, particularly if joint ventures, trusts, or mezzanine debt/preferred equity are involved. The org chart makes it easy for everyone to understand exactly how everything is laid out, reducing confusion for everyone involved.

Property Forms and Templates

An operating statement is perhaps the most important property-related document you will need as a borrower. This is also referred to as a profit and loss (P&L) statement. This document allows one to figure out a property’s net operating income, or NOI, and its DSCR (debt service coverage ratio), as it lays out a property’s income and expenses. For multifamily properties, a specific type of P&L document is required: a trailing 12 month, or “T-12” statement, which shows the property’s income and expenses for the last 12 months.

Click to Download a Multifamily Property Trailing 12 Month, Month-by-Month P&L or "T-12"

While a T-12 is a great place to start, it generally isn’t sufficient on its own. It generally needs to be augmented with a last 3-years P&L, which looks back at all income and expenses over the previous 3 years. This document will also include a stabilized budget, which estimates the property’s budget for the next 12 months.

Click to Download a Multifamily Property 3 Years Operating Statements and Stabilized Budget (or 12-Month Pro Forma)

Click to Download a Commercial Property 3 Years Operating Statements and Stabilized Budget (or 12-Month Pro Forma)

A rent roll is a document that lists every tenant currently paying rent on a property. It includes information such as lease start and end dates, which (if any) tenants are behind on their rent, as well as any rental concessions provided to tenants, if they exist. A rent roll is one of the most effective ways for a lender to calculate the risk that a property poses as collateral for a CMBS loan. A lease expiration schedule is another important document, which often accompanies a rent roll. A lease expiration schedule shows when each lease will expire and what percentage of the property’s total leasable area each lease represents. This is generally only required for commercial properties, and is included below in our commercial property rent roll template.

Click to Download a Multifamily Property Rent Roll Template

Click to Download a Commercial Property Rent Roll Template

Finally, a sources and uses (S&U) form is generally required. It lays out each of the sources of capital for a project, as well as each of the uses of capital. In general, these much match exactly.

Click to Download a Sources and Uses Statement

In this article:
  1. Borrower Forms and Templates
  2. Property Forms and Templates
  3. Get Financing

Getting commercial property financing should be easy.⁠ Now it is.

Click below for a free, no obligation quote and to learn more about your loan options.

Get financing →
Janover logo

CMBS Loans is a Janover company. Please visit some of our family of sites at: Multifamily Loans, Multifamily Today, Commercial Real Estate Loans, SBA7a Loans, CMBS Loans, Apartment Loans, HUD Loans, HUD 221d4 Loan, HUD 232 Loan, HUD 223f Loan, HUD 223a7 Loan, SBA Express Loans, SBA 504 Loans, and OpportunityZones Help.

Janover Inc.

6401 Congress Ave
Ste 250
Boca Raton FL 33487

hello@cmbs.loans

Property types

Mobile Home Park CMBS Loans
Hospital CMBS Loans
Industrial CMBS Loans
Hotel CMBS Loans
Retail CMBS Loans
Commercial mortgage calculator

Self-Storage CMBS Loans
Mixed-Use CMBS Loans
Office CMBS Loans
Apartment CMBS Loans
CMBS Property Types

Site Information

Privacy Policy
Terms of Use

This website is owned by a private company that offers business advice, information and other services related to multifamily, commercial real estate, and business financing. We have no affiliation with any government agency and are not a lender. We are a technology company that uses software and experience to bring lenders and borrowers together. By using this website, you agree to our use of cookies, our Terms of Use and our Privacy Policy. We use cookies to provide you with a great experience and to help our website run effectively.

Freddie Mac® and Optigo® are registered trademarks of Freddie Mac. Fannie Mae® is a registered trademark of Fannie Mae. We are not affiliated with the Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Freddie Mac or Fannie Mae.

Copyright © 2023 Janover Inc. All rights reserved.