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Construction Lending
Property Types: Multifamily, Office, Industrial, Anchored Retail
Investment Amounts: $3-$50MM
Terms: 12-36 Months
Ammortization: Interest Only
Minimum DSCR: 1.25 - 1.50X
Maximum LTC: 75% (Primary Markets)
65% (Secondary Markets)
Recourse: Subject to project quality and sponsorship strength
Rate Benchmark: Libor
Margin: 200 - 450 basis points
Geographic Location: Nationwide
Closing: Borrowing Entity- Single Purpose Entity required
Prepayment- open
Escrows- Required for Taxes and Insurance
Sponsorship: Previous experience in asset type required/ Net Worth > Loan Amount
Sponsorship Liquidity: Minimum of 10% of project costs.
Third Party Reports:

Phase I - Environmental Survey
MAI Appraisal

Application Fee: None
Funding: 45 days from complete due diligence package




 

 

 

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