COMMERCIAL REAL ESTATE
- TRANSITIONAL BRIDGE: Properties must have in-place cash flow and minimal capex requirements.
- REHAB BRIDGE:
- Properties requiring light or heavy renovation, partial, or non-cash flowing.
- Vacant properties requiring heavy rehab are eligible for strong sponsors.
- No ground-up construction projects.
- Non-interest bearing future funding facilities available
- Quick close transactions.
- Debt refinancing/restructuring and partner buyouts.
- Mixed Use,
- Self-Storage, and
TYPICAL TRANSACTION TERMS
- Loan Min-Max: $2MM – $20MM+
- Loan to Cost: Up to 80%
- Maximum Stabilized LTV: 70%
- Stabilized DSCR at Exit: 1.25x
- Loan Term with Extensions: 12 – 36 months+
- Minimum Yield Maintenance: Open Prepay with Minimum Interest
- Rates: Starting at 1 Month LIBOR +
- Transitional Bridge: 3.5% to 4.0%
- Rehab Bridge: 6.5%
- Minimum Origination / Exit Fees: 2.5%
- Geographic Region: National except MN, ND, NV, SD, VT, & WV
- Transitional Bridge: Non-Recourse with Bad-Boy Carveouts
- Full Recourse with, Non-Recourse Case by Case
- Minimum FICO: 640
- Liquidity/Net Worth: 15%/100% of Loan Request
- Bankruptcy: None in the past 5 years
- Reserves (as required): Interest, Tax, Insurance, TILC, and CapEx
to download and provide the necessary documentation to receive a Conditional Loan Commitment.