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Sources Of Financing
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Sources Of Financing
Captec (800-291-3316) offers comprehensive financing solutions for tenants and developers, specializing sale/leaseback financing, development joint ventures and forward purchase commitments.
MortgageCap Financial (315-425-0890) issues construction loans on all types of commercial properties which can roll into long-term mortgages with 25-year terms and 30-year amortizations. The company can finance up to 85% of cost if construction or value has been stabilized for two years or more. The long-term mortgages can be non-recourse with standard carve-outs, and construction loans can roll into permanents with as little as 90 days of stabilized operations. Rates for most projects fall between 7.9% and 8.8%, and construction loans can be as low as prime + .5%. Preferred transaction sizes range from $5 million to $100 million.
ACRE Partners (212-867-2100) is a principal in the purchase of sale/leaseback financing transactions. The company is actively seeking real property assets for leaseback opportunities. The company also finances new construction or build-to-suits. Preferred transaction range is $15 million to $25 million, with $5 million being the minimum.
Blackburne & Brown (916-338-3232) offers small commercial loans ranging in size from $150,000 to $1.5 million, with a loan fee of .5 point + $500. Rates are figures as follows: for anchored strip centers, 3.35% + 10-year Treasuries rate (10T); unanchored strip centers, 3.60% + 10T; freestanding retail facilities, 4.10% + 10T. Liability is non-recourse with standard carve-outs for loans over $1 million, and full-recourse and personal guarantee for loans under $1 million. Insurance/tax repair reserves of 1.25 x deferred maintenance are required. The assumption fee is 1% + $1,500.
Trust Capital Group (310-322-9666) offers loan programs for a variety of properties. The programs for the specified properties are as follows: anchored shopping centers, fixed rate: $1 million minimum, LTV of 75% on a loan term of 25 years due in 5, 7, and 10 years with 7.5% interest rate; fixed rate, unanchored shopping centers: $1 million to $10 million range, LTV of 75% on a loan term of 25 years due in 5 + 5 years with an 8.875% interest rate; variable rate, unanchored shopping centers: $1 million to $10 million, with LTV of 75% on a loan term of 25 years due in 5+5 years with a 9.25 interest rate; and triple net leased single tenant retail facilities: $1 million minimum, LTV of 100% on a loan term of up to 25 years due in 25 years with a 7,5% interest rate.
Westminster Group (888-797-0157) offers asset-based leasing and lending options for a variety of commercial properties in diverse settings. Loans can be as large as $100 million.
Affinity Bank (877-823-2540) offers income portfolio and CMBS loans for commercial properties ranging in size from $500,000 to $15 million (CMBS) and $250,000 to $4 million (income portfolio). The CMBS loan program has fixed interest rates at 1.59% to 3.50% over U.S. Treasury securities, depending on property type, loan maturity, debt service coverage and overall credit grade of the loan. Amortizations are 25 to 30 years with 7, 10 and 15 year fixed-rate maturities available. The lender’s fee is 1% with a maximum LTV of 80%. The income portfolio program (available in CA and CO only) offers interest rates of 8.65% to 9.25%, amortizations of 30 years with 3, 5, and 7-year fixed-rate terms with 10 to 15 years maturities available. The lender’s fee is 1% with a maximum LTV of 75%.
Fidelity Mortgage Lenders, Inc. (800-752-9533) offers small commercial loans from $20,000 to $1 million. Loans are based on property value. The loans are fully amortized in 15 years with fixed rates, LTV to 60%.
National Mortgage Co. (503-225-2681) offers institutional loans for commercial properties in ID, OR and WA from $500,000 to $65 million with LTV between 65% and 80%. Interest rates are based on a spread over treasuries and vary by lender, property type and credit. The company also small loans from $150,000 to $500,000 with LTV up to 75%. Interest rates are determined at time of commitment based on a spread of 3% over the five-year treasury rate. Fees are 2% with a minimum of $5,000 . The company also offers construction loans if it is also providing the permanent takeout loan through one of its lenders.
APT Funding Group (858-530-3222) offers fixed interest rate loans on anchored and unanchored shopping centers. The rates are determined by the spread of the corresponding 10-year T-bill plus 2.30% to 2.60% on anchored centers, and 2.85% to 3.25% on unanchored centers. Minimum loans are $2 million, with no maximum on unanchored centers. Loans are amortized over 25 years, and the loan is due and payable in 10 years, and are non-recourse except for standard carve-outs. A 1% assumption fee applies.
Northland/Marquette Capital Group, Inc. (602-468-7000) arranges loans from $1 million to $100 million on commercial properties, typically 10 years at fixed rates. Other loan types include variable rate, construction, bridge mezzanine and forward commitment.
Great Eastern Investments, LLC (888-463-4422) offers loans from $500,000 to $65 million on anchored commercial properties. Loan terms of 10 years are typical, with 30 year amortizations or five years less than the life of the loan. LTV is up to 80% and loans are non-recourse except for standard carve-outs. Replacement reserves of $.10 to$.25 psf annually are required (monthly escrow).
Owens Financial (925-935-3840) offers a variety of financing and loan options for properties located in the western United States. Loans range from $200,000 to $15 million with LTV up to 70%. The lender’s fee is 1.5%+, and loan terms are typically one to 10 years.
CHS Financial Services, Inc. (941-355-5504) offers small business administrative loans and conventional mortgage loans ranging from $125,000 to $3 million (SBAs) and $500,000 to $100 million (conventional).
Embassy Equities Group () caters to investors and developers seeking first-mortgage and/or equity financing of commercial properties. Loans range from $2 million to $10 million.
Trinity Financial (818-874-9803) provides financing for all types of commercial properties in CA. Loans range from $50,000 to $ 50 million.
Mason-McDuffie Financial Corporation (510-622-8507) offers a wide range of loans on investment properties.
CCEC, Inc. (303-773-7131) specializes in commercial real estate development loans, construction financing and joint ventures in the U.S., Canada, Mexico, Central America and the Caribbean. The construction lending program features loans ranging from $1 million to $50 million. Rates range from 1% to 3% over Citicorp prime, 2% to 4.5% to open, one to three years interest only, and 2 years for mini-permanent loans.
Bertram & Meade International (760-757-6922) specializes in "hard money" loans ranging from $1 million to $20 million. The company seeks "time of the essence" closings, lender or partner non-performance situations that require quick funding.
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