Interim Loan Programs
Preferred Property Types
Apartments (seniors, students and traditional)Retail (anchored, unanchored, freestanding, outlet
malls)Industrial (multi-tenant, single tenant, flex-tech,
self storage)Office and Medical office buildingsHotels (flagged)
| Loan Size: | $5,000,000 - $30,000,000 |
| Interest Rate: | Floating over one month Libor |
| Loan Maturities: | 18 to 36 months with interest only |
| Prepayments: | No penalty or lock out |
| Recourse: | Typically 10% |
| Loan-to-Value: | 90% (current value) |
| Debt Coverage Ratio: | 1.05x minimum |
| Origination Fee: | 5% to 1% |
| Exit Fee: | 1.5% to 2% (if not converted to permanent with same lender) |
| Third Party Reports: | Property condition and seismic report, environmental site assessment and MAI appraisal |