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Sources of Financing
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Sources of Financing Progress Realty Advisors, Inc. (732-389-9701) offers financing for office, retail and industrial properties with loan terms of 10 to 25 years, a fixed-rate period of five to seven years with LTV of 75% and DSCR of 1.25. Recourse may be required. Interest rates are 6.25%. Minimum loan size is $1 million. Single tenant properties are not considered. Capital Lease Funding (212-217-6300) is allocating $50 million in the fourth quarter to provide high-leverage, self amortizing 20-25 year credit tenant loans to borrowers seeking to finance properties net leased to Walgreens. In addition, the company will continue to finance these properties under its proprietary 10-year, high-leverage CTL loan program. |