Our Commercial Real Estate Products

Commercial Build-to-Suit Loans

$1MM-$20MM

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Multifamily Purchase and Rehab Loans

$1MM-$20MM

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Commercial Real Estate Bridge Loans

$1MM-$20MM

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BUILD-TO-SUIT CONSTRUCTION LOANS

  • Ground-up construction projects including land purchase
  • Long term NNN leases executed pre-close
  • All direct project costs including soft costs included

Typical Terms

UW CRITERIA TERMS
Permitted Property Types Retail Ground-up Construction Projects
Loan Min-Max $1-20mm
Loan to Project Cost (incl. financing) 80%-100%
Max Stabilized LTV 75%
Stabilized Debt Yield@Exit 8%+
Stabilized DSCR@Exit 1.25x
Max Loan Term w/ Extensions 36 mos
Minimum Yield Maintenance (typically 75% of initial term) 6 mos
Loan Rate (annualized) Starting at 1ML+7.0%
Minimum Origination/Exit Fees 1.5% / 0%
Minimum Extension/Modification Fees 1% / 1%
Geographic Region All US, except MN, ND, NV, SD, VT & WV
Recourse - Warm Body Guarantors Full or Partial Recourse During Construction/Bad Boy Carve-outs
Other Guarantees (on a case-by-case basis) Project Completion Guaranty GC Surety Bond
Minimum Guarantor FICO 640
Borrower Bankruptcy None in Past 7 Years
Other (as required) Interest/Tax Reserve Minimum 10-yr Initial NNN Lease Term

Featured Project

Jiffy Lube

Texas
$2,150,000

MULTIFAMILY ACQUISITION & REHAB LOANS

  • Transitional multifamily properties that typically require renovation and lease up to stabilize rent rolls and seek conventional financing
  • Includes adaptive reuse projects
  • No ground-up construction

Typical Terms

UW CRITERIA LIGHT REHAB HEAVY REHAB
Loan Min-Max $1-20mm $1-20mm
Construction Holdback/Loan Amount <=33% >33%
Loan to Project Cost (incl. financing) Up to 85% Up to 75%
Stabilized LTV Up to 70% Up to 70%
Stabilized Debt Yield@Exit 8%+ 8%+
Stabilized DSCR@Exit 1.25X 1.25X
Max Loan Term w/ Extensions 36 mos 36 mos
Minimum Yield Maintenance (typically 75% of initial term) 6 mos 6 mos
Loan Rate (annualized) Starting at 1ML+6.5% Starting at 1ML+7.5%
Minimum Origination/Exit Fees 1.5% / 0% 1.5% / 0%
Minimum Extension/Modification Fees 1% / 1% 1% / 1%
Geographic Region All US, except MN, ND, NV, SD, VT & WV All US, except MN, ND, NV, SD, VT & WV
Recourse - warm body guarantors Full Full
Minimum Guarantor FICO 640 640
Borrower Bankruptcy None in Past 7 Years None in Past 7 Years
Other (as required) Interest / Tax Reserve Interest / Tax Reserve

Featured Project

80 Unit Apartment Building

Charlotte, NC
$3,875,000

COMMERCIAL REAL ESTATE BRIDGE LOANS

  • Repositioning of transitional assets requiring renovation or TI/LC funds
  • Quick close transactions
  • Debt refinancing/restructuring and partner buyouts

Typical Terms

UW CRITERIA TERMS
Loan Min-Max $1-20mm
Permitted Property Types MF/Retail/Office/Hospitality/Mixed Use/Industrial/Self Storage. No raw land, mobile homes or manufactured housing
Loan to Project Cost (incl. financing) Up to 80%
Max Stabilized LTV 65%/55% for Hospitality
Stabilized Debt Yield@Exit 8%+
Stabilized DSCR@Exit 1.25x
Max Loan Term w/ Extensions 36 mos
Minimum Yield Maintenance (typically 75% of initial term) 6 mos
Loan Rate (annualized) Starting at 1ML+6.5%
Minimum Origination/Exit Fees 1.5% / 0%
Minimum Extension/Modification Fees 1% / 1%
Geographic Region All US, except MN, ND, NV, SD, VT & WV
Recourse - Warm Body Guarantors Full
Minimum Guarantor FICO 640
Borrower Bankruptcy None in Past 7 Years
Other (as required) Interest/Tax Reserve

Featured Project

Mixed Use Development Loan

Hollywood, FL
$6,000,000