May be LP, S/C-Corp, LLC, or TIC with 10 or fewer tenants in common. GPs, LLPs, REITS and certain trusts may also be acceptable in limied circustances, subject to additional requirements.  Borrower must usually be be a Single Purpose Entity (SPE) , however, on loans less than $5 million, upon borrower's request, a borrower other than a TIC may be a Single Asset Entity instead of an SPE. If the borrower is structured as a TIC, each teanant in common must be an SPE.