NMV requests initial documentation to aid in building an anonymous Teaser for your deal. For full underwriting, your lender will require additional documentation to a level dependent on your specific financing needs. Which documents are required depends on whether you are seeking financing for an existing building (permanent debt) or for a new building (construction).
The following is a list of documents to support the Teaser and the typical documents that a lender will request for underwriting.
Permanent Financing
NMV requests the below to create a teaser:
T12 Income Statement
Census/Rent Roll (deidentified)
Consolidated Balance Sheet
Purchase Agreement (if acquisition)
Existing Debt Statement/Amount (if refinance)
Lenders commonly request the below for underwriting:
General
Property & Strategy Summary
Borrower Bio
Sponsor Bio
Organizational Chart
Licensure
Financial
Guarantor Personal Financial Statements (PFS)
Prior 3 years’ operating statements
Prior 3 years’ occupancy summary
Current year operating budget
Consolidated Balance Sheet
Prior three years of both personal and business tax returns
Property
Site Plan
Floor Plan
Current and prior CAPEX summary
QMIX or Payor Mix (if SNF)
Supplemental
Operating / Management Agreement
Any available prior appraisals, environmental reports, condition reports, or surveys
Construction Financing
NMV requests the below to create a teaser:
Unit Mix
Location Summary
Consolidated Balance Sheet
Experience of Sponsor and Operator
Projected Construction Budget
Projected Schedule
Lenders commonly request the below for underwriting:
General
Property & Strategy Summary
Borrower Bio
Sponsor Bio
Organizational Chart
Licensure (if available)
Project GC and other contractors’ bios
Letter of Intent or purchase agreement (if applicable)
Financial
Projected Operating Budget
Project GC’s cost estimates and proposed contract
Consolidated Balance Sheet
Guarantor Personal Financial Statements (PFS)
Prior three years of both personal and business tax returns
Property
Site Plan (if available)
Floor Plan (if available)
QMIX or Payor Mix (if SNF)
Supplemental
Operating / Management Agreement
Any available prior appraisals, environmental reports, or surveys