Real Estate Investor Loan Case Studies
Every borrower we work with shows up with a different goal. A self employed investor refinancing four rentals. A first time flipper with a single project. A small business owner trying to escape a 13% hard money loan. A foreign national buying his first US property without a US credit history.
Below are composite case studies built from the deals we close every month. They show how the right loan program changes the outcome, when traditional banks say no, and when speed, structure, or specialized underwriting makes the difference between a deal that closes and a deal that dies.
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Anonymized case studies drawn from deal types PeerSense routinely structures across its institutional lender book.
$25M CMBS Conduit Refinance, Class B Suburban Office
Closed at 6.85% / 70% LTV in 58 days; ~$1.0M/yr interest savings vs prior bridge (~10.85% prior, 400 bps spread tightening on $25M).
- Rate
- 6.85%
- LTV
- 70%
- DSCR
- 1.30x
- Term
- 10 yr
Sponsor was burning carry on a maturing floating rate bridge originated during a value add hold. Underwritten NOI of $2.27M cleared the lender debt yield floor, and PeerSense ran the three constraint conduit test in parallel, LTV bound at $17.5M, debt yield bound at $26.7M, DSCR bound at $20.1M, confirming DSCR was the binding constraint. We pre cleared three institutional CMBS conduits and selected the desk with the tightest spread on Class B suburban product. The conduit funded at $25M flat with a 3 yr IO window that defers principal long enough for the sponsor to recapture leasing reserves before amortization kicks in.
$24M Hospitality CMBS Refi, Flagged Limited Service + PIP Escrow
Refinanced 220 key flagged hotel into 10 year senior CMBS at 7.05% with $3.96M PIP escrow; bridge takeout in 64 days.
- Senior Rate
- 7.05%
- LTV
- 65%
- RevPAR
- $84
- Occupancy
- 72%
Sponsor needed a takeout for a maturing acquisition bridge while simultaneously funding a brand mandated PIP. Trailing RevPAR of $84 on 72% occupancy underwrote to a stabilized NOI that supported a $24M senior CMBS at 65% LTV, fully refinancing the bridge with no additional layers. PeerSense pre cleared three institutional CMBS conduits, selected the desk with the cleanest PIP escrow language, and escrowed $3.96M of the senior proceeds against the brand PIP scope. Non recourse, 10 year fixed, well below the prior bridge carry. Closed in 64 days.
$5M Multi Unit Franchise Partner Buyout, 4 Store QSR Portfolio
Closed 50% partner buyout on 4 unit QSR portfolio with 4 layer stack; 71 day close incl. franchise approval.
- Senior
- SBA 7(a)
- Y1 DSCR
- 0.95x
- Buyout
- 50%
- Standby Note
- full standby
Operating partner needed to buy out a 50% co owner across a 4 unit QSR portfolio, with first year DSCR projected at 0.95x, below SBA's typical 1.15x floor. PeerSense placed the senior $4.25M SBA 7(a) and structured the seller note as a full standby instrument for the life of the SBA loan under SBA SOP, eliminating the need for a separate gap layer. The SBA preferred lender accepted the sub 1.0x Y1 coverage on a documented same store sales growth forecast and the sponsor's 12 year operating history. Closed in 71 days inclusive of franchisor approval and SBA Form 1919 review.
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Disclaimer: Case studies are anonymized representations of deal types the desk has sourced. All borrower names, specific property addresses, and identifying details have been altered or omitted to protect client confidentiality. Loan amounts, rates, LTVs, and structural details reflect typical institutional terms a capital source has set; individual deals vary with credit, sponsor, and market conditions.
All borrower stories on PeerSense.com are composite case studies based on the types of deals we close every month. Names, locations, identifying business details, and exact loan amounts have been modified to protect borrower privacy and are not intended to identify any specific borrower. Numbers shown reflect realistic market pricing and program parameters at the time of publication. Actual rates, terms, LTVs, and outcomes vary by borrower, property, market, lender program, and current rate environment. PeerSense is a capital advisory firm. Talk to PeerSense. The capital source sets the terms. Nothing on this page constitutes a loan commitment or guarantee of approval.