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Commercial Property Loan Structures

Commercial real-estate loan structures, collateral packages, and debt instruments tied to property lending.

Commercial Property Loan Structures covers commercial mortgage structures, CRE capital, collateral packages, DSCR, loan-to-cost, blanket mortgages, and property-backed return measures.

Use these pages when a commercial property loan, borrower structure, lease income, collateral package, or capital stack changes credit risk or investment return. It sits inside Commercial Real Estate Finance, so readers can move up when the broader property-finance context matters.

Use the table below to choose the narrower mortgage or real-estate finance branch before applying a term to a loan file, closing record, servicing review, investor report, appraisal, or valuation model. Move into the term page when the document, calculation, party role, lien position, or property cash flow matters.

What This Branch Covers

AreaUse it for
Blanket MortgageA blanket mortgage is a single mortgage that encompasses more than one parcel of real estate.
Chattel MortgageLoan secured by movable personal property, relevant when collateral is a manufactured home, equipment, or other non-real-estate asset.
Junior DebtJunior debt, also known as subordinated debt, refers to a class of debt that sits lower in the repayment hierarchy compared to other debt claims.
Obligation BondAn obligation bond is a specialized type of mortgage bond where the face value of the bond is higher than the value of the underlying property.
Package MortgageMortgage that finances real estate together with specified personal property, so collateral coverage extends beyond the land and building.
Property LendingLending backed by real property collateral, with analysis focused on value, lien position, repayment source, and enforceability.

What to Check

  • Borrower, sponsor, property type, rent roll, NOI, DSCR, LTV, LTC, and lease concentration.
  • Loan agreement, appraisal, environmental report, title, lien position, and collateral package.
  • Debt service, maturity, amortization, covenant, reserve, recourse, and prepayment terms.
  • Tenant credit, occupancy, capex, operating expenses, valuation, and exit assumptions.
  • Effect on collateral value, refinance risk, lender recovery, equity return, and cash-flow coverage.

Common Mistakes

  • Using residential mortgage assumptions for commercial property loans.
  • Comparing cap rates, DSCR, and loan-to-cost without matching property type and income quality.
  • Ignoring tenant rollover, reserves, capex, recourse, and maturity concentration.
  • Treating appraised value as guaranteed exit value.

Commercial real-estate finance content is educational and does not provide lending, appraisal, legal, tax, or investment advice.

In this section

Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.

Blanket Mortgage

A blanket mortgage is a single mortgage that encompasses more than one parcel of real estate.

Chattel Mortgage

Chattel Mortgage is a mortgage or real estate finance term used in property financing, underwriting, securitization, valuation, or ownership analysis.

Junior Debt

Junior debt, also known as subordinated debt, refers to a class of debt that sits lower in the repayment hierarchy compared to other debt claims.

Obligation Bond

An obligation bond is a specialized type of mortgage bond where the face value of the bond is higher than the value of the underlying property.

Package Mortgage

Package Mortgage is a mortgage or real estate finance concept used in property financing, underwriting, valuation, or ownership analysis.

Property Lending

Property Lending is a mortgage or real estate finance concept used in property financing, underwriting, valuation, or ownership analysis.

Revised on Sunday, June 21, 2026