is a correspondent lender for CMBS investment banks, allowing us to provide best-in-class service to our borrower clients with no origination fees—our compensation comes directly from our lending partners. CMBS financing offers a low, fixed-rate, non-recourse mortgage structure while enabling property owners to unlock equity through cash-out refinancing. Unlike traditional lenders that often restrict substantial cash-outs, CMBS lenders recognize that accessing built-up equity is a natural part of the real estate investment cycle—often referred to as the "harvest" phase. Cash-out refinancing allows owners to monetize the value they’ve created without selling their properties, avoiding significant tax implications and asset replacement challenges. Additionally, this structure facilitates partnership buyouts, offering flexibility in ownership transitions. Historically, CMBS financing has been a preferred tool for institutional borrowers, including private and public REITs, family offices, and real estate private equity firms, as it provides a non-recourse solution for ownership distributions or portfolio expansion. While CMBS financing has long been available to middle-market property owners, navigating its complexities can be daunting for first-time borrowers. Summit Real Estate Advisors specializes in guiding clients through the process, ensuring they are informed and confident at every step.