Our Commercial Real Estate Products

Commercial Build-to-Suit Loans

$1MM-$20MM

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Multifamily Purchase and Rehab Loans

$2MM-$20MM

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Commercial Real Estate Bridge Loans

$2MM-$20MM

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BUILD-TO-SUIT CONSTRUCTION LOANS

  • Ground-up construction or retrofit of existing structures
  • Minimum 10-year NNN lease executed pre-close
  • All direct project costs including land and soft costs included
  • Single tenant projects with strong credit preferred
  • Only strong national credit tenants considered for multi tenant projects

LENDING MATRIX

LENDING CRITERIA TERMS
Loan Size $2-$20MM
Maximum Loan to Project Cost (incl. Financing) 80%-100%
Maximum Stabilized LTV 75%
Reserves (as required) Interest/Tax/Insurance/Construction
Loan Term 12-36 months
Loan Rate Index 1 Month LIBOR
Loan Rate Spread over Index 5.0%+
Typical Origination/Exit Fees 1.0%/1.0%
Prepayment Open Prepay with Minimum Interest
Loan Guaranty Non Recourse with Completion Guaranty. Surety Bond may be required
Minimum Guarantor FICO 640
Minimum Guarantor Liquidity/Net Worth 15%/100% of Loan Size
Guarantor Bankruptcy/Foreclosures None in last 5 Years

Featured Project

Jiffy Lube

Texas
$2,150,000

MULTIFAMILY ACQUISITION & REHAB LOANS

TRANSITIONAL MULTIFAMILY

  • Properties must have in-place cash flow and minimal capex requirements

VALUE ADD MULTIFAMILY

  • Properties requiring light or heavy renovation, partial or non-cash flowing
  • Vacant properties requiring heavy rehab eligible for strong sponsors
  • No ground up construction projects
  • Non-interest bearing future funding facilities available

Typical Terms

LENDING CRITERIA TRANSITIONAL BRIDGE VALUE ADD BRIDGE
Loan Size $2-20mm $2-20mm
Maximum Loan to Project Cost (incl. Financing) 85% 80%
Max Stabilized LTV 75% 75%
Reserves (as required) Interest/Tax/Insurance/TILC/Capex Interest/Tax/Insurance/TILC/Capex
Loan Term 12-36 months 12-36 months
Loan Rate Index 1 Month LIBOR 1 Month LIBOR
Loan Rate Spread over Index 3.5 –5.5% 5.5%+
Typical Origination/Exit Fees 1.0%/1.0% 1.0%/1.0%
Prepayment Open Prepay with Minimum Interest Open Prepay with Minimum Interest
Loan Guaranty Non-recourse, with standard bad boy carveouts Typically Full Recourse. Non-recourse on case-by-case basis
Minimum Guarantor FICO 640 640
Minimum Guarantor Liquidity/Net Worth 15%/100% of Loan Size 15%/100% of Loan Size
Guarantor Bankruptcy/Foreclosures None in last 5 Years None in last 5 Years

Featured Project

80 Unit Apartment Building

Charlotte, NC
$3,875,000

COMMERCIAL REAL ESTATE BRIDGE LOANS

TRANSITIONAL BRIDGE

  • Properties must have in-place cash flow and minimal capex requirements

VALUE ADD BRIDGE

  • Properties requiring light or heavy renovation, partial or non-cash flowing
  • Vacant properties requiring heavy rehab eligible for strong sponsors
  • No ground up construction projects
  • Non-interest bearing future funding facilities available

Typical Terms

LENDING CRITERIA TRANSITIONAL BRIDGE VALUE ADD BRIDGE
Loan Size $2-20mm $2-20mm
Property Types Office/Retail/Mixed Use/Industrial/Self Storage/Hospitality Office/Retail/Mixed Use/Industrial/Self Storage/Hospitality
Maximum Loan to Project Cost (incl. Financing) 80% 80%
Max Stabilized LTV 70% 70%
Reserves (as required) Interest/Tax/Insurance/TILC/Capex Interest/Tax/Insurance/TILC/Capex
Loan Term 12-36 months 12-36 months
Loan Rate Index 1 Month LIBOR 1 Month LIBOR
Loan Rate Spread over Index 4.0 –6.0% 6.0%+
Typical Origination/Exit Fees 1.0%/1.0% 1.0%/1.0%
Prepayment Open Prepay with Minimum Interest Open Prepay with Minimum Interest
Loan Guaranty Non-recourse, with standard bad boy carveouts Typically Full Recourse. Non-recourse on case-by-case basis
Minimum Guarantor FICO 640 640
Minimum Guarantor Liquidity/Net Worth 15%/100% of Loan Size 15%/100% of Loan Size
Guarantor Bankruptcy/Foreclosures None in last 5 Years None in last 5 Years

Featured Project

Mixed Use Development Loan

Hollywood, FL
$6,000,000