Product
Eligible Properties
- Market Rate Multifamily
- Student Housing
- Age Restriction Multifamily
Target Markets
- Virginia
- North Carolina
- South Carolina
- Georgia
- Florida
- Colorado
- New Mexico
- Tennessee
- Kentucky
- Alabama
- Texas
- Arizona
- Utah
- Nevada
Financing Parameters
TIMING TO CLOSE
30 - 60 Days
LOAN SIZE
$3MM – $50MM
LTV
Up to 75% LTV "as-Stabilized" / 90% LTC of Total Project Costs
LIEN POSITION
Equity Collateral
LOAN TERM
2+1 or 2+1+1 or 3+1+1 or 4+1 or 5
EXTENSIONS
Multple 1 Year or 6 Month extensions, subject to performance hurdles
INTEREST RATE
Fixed 8% – 12% Current Return.
AMORTIZATION
Interest - Only
DEBT YIELD
Equity Reserves will be calculated on a Case-by-Case Basis
RECOURSE
Non-Recourse, other than standard "bad boy acts"; Completion Guaranty may be required
DEPOSITS
Expense Deposit adequate to cover third party reports, legal fees and other customary deal costs
ORIGINATION & EXIT FEES
Market Competitive fees adjusted to loan size, timing and
complexity