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Sources of Financing
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Sources of Financing Martin Capital Group (270-354-6394) is providing fixed-rate, non-recourse financing for anchored retail centers nationwide. The company offers rates ranging from 1.40% to 2% over the 10-year treasury, depending on leverage and DSCR. Rate floors are utilized on a case-by-case basis. Loan amounts typically have a minimum of $3 million for a term of 10 years with amortization of 25 to 30 years. LTV is 75% to 80% with DSCR as low as 1.20. Holliday Fenoglio Fowler (212-245-2425) arranged a $63 million permanent loan for Jamaica Center, a 411,000 sq.ft., three-level retail, entertainment and office complex in Jamaica Queens, NY. The center is anchored by a 15-screen National Amusements Theatre, GAP, Old Navy, Bally’s Total Fitness and Walgreens.MortgageCap Financial (212-631-4272) offers construction and long-term mortgage financing for apartments, retail, industrial, hotels, resorts, land developments and golf courses. The company offers financing of $5 million and above domestically and $10 million and above internationally.
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