| Property Types: |
*****Program Has Been Suspended***** |
| Investment Amounts: |
|
| Terms: |
12-36 Months |
| Ammortization: |
Interest Only |
| Minimum DSCR: |
1.25 - 1.50X |
| Maximum LTC: |
90% (Primary Markets)
85% (Secondary Markets) |
| Recourse: |
Subject to project quality and sponsorship strength |
| Rate Benchmark: |
Prime |
| Margin: |
100 - 300 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. |
| 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 |
