Citadel Servicing Corporation (CSC) has announced the launch of its new Commercial Property lending program, being added to Citadel’s Outside Dodd-Frank Plus program. The Commercial Property lending program is designed specifically for commercial property investors and owners, offering lending options for properties of five to 100 units.

The Commercial Property lending program covers a range of property uses, including light industrial, retail, office space, multi-family, storage facilities, strip malls, schools, daycare centers and hospitality properties for investors and owners looking to purchase or refinance.

“We are excited to add additional commercial property lending options, making our portfolio of products and services even more robust. Our customers will benefit by having commercial funding options with competitive rates in the non-QM space.” said Kyle Gunderlock, president and chief operating officer.

The Commercial Property program will initially be available in Arizona, California, Florida, Nevada, Oregon, Texas, Utah and Washington with plans to extend to additional states in the immediate future.

“When we launch any program, we do so to provide customers with the best possible product,” said Dan Perl, Citadel’s chairman and chief executive officer. “Our current range of programs have proved to be popular and the demand for commercial mortgages has increased. We are constantly looking for new and dynamic ways to meet our customer’s needs and requirements to.”

Source: National Mortgage Professional Magazine