| Eligible Properties |
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Hotels, Office, Multifamily and Industrial.
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| Loan Size |
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$5 million - $30 million, though larger loans will be considered.
|
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| Maximum Leverage |
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1st Mortgage – up to 80% LTC/LTV.
|
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| Interest Rate |
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1st Mortgage – 8.5%
Subordinated Debt – 13% - 15%
|
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| Loan Term |
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36 - 60 months. |
|
| Amortization / Prepayment |
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Terms will be structured to accommodate developer needs. |
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| Security |
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Assignment of ownership interest.
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| Recourse |
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Non-recourse, except for standard carve-outs.
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| Senior Debt |
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Acceptable senior lender and inter-creditor agreement required.
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| Lender Fees |
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1.0% at closing and 1.0% at exit.
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| Other Costs |
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Sponsor is responsible for all third-party reports, legal fees, travel expenses, and other
out-of-pocket expenses, $10,000 underwriting fee.
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For More Information Contact: |
Thomas Whitesell
310-571-4245
e-mail |
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