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Sources of Financing
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Sources of Financing CFA Capital Partners (914-967-5780) offers financing from $5 million and up for the following types of properties: retail, office, rental apartments, warehouse, storage, hotel/motel and any income-producing property. The company will not offer financing for land deals and ground up construction. CFA specializes in financing transitional properties that do not currently qualify for permanent financing. The company can close from 15 days to 45 days and offers interest only terms for one to three years, LTV of 85% and up to 90% LTC.
Ryanko (661-889-8711) offers financing for commercial real estate and other projects, including hotels/motels, retail and gas stations.
Dominion Mortgage Corp. (310-477-3041) offers commercial real estate loan programs, a flexible underwriting program, and bridge and hard money loans for mixed-use properties, retail buildings and single-tenant properties. For commercial loans, rates are fixed and adjustable starting at $1 million. For bridge and hard money loans, fast funding and all propety types are considered.
Ackman-Ziff (212-697-3333) arranged debt financing of $32.7 million for a 297,000 sq.ft. center located in Dekalb, IL. The company also arranged equity financing of $11 million for a 121,000 sq.ft. retail portfolio in MA and RI.
Affinity Funding (734-374-3463) offers loans from $100,000 and up for the following types of properties nationwide: retail, apartments, office, hotels, nursing homes, assisted living facilities, mixed-use locations, automotive sites, gas stations, car washes, self storage facilities, office space, industrial sites, warehouse facilities and anchored and non-anchored shopping centers. The company offers adjustable and fixed rates, as well as adjustable to fixed combinations.
George Elkins Mortgage Banking Co. (310-414-6346) offers financing for anchored retail, multi-tenant industrial, office and self-storage space from $5 million and up. The company offers fixed-rate financing, typically priced off of the 10-year treasury plus a spread. Terms are typically 11 years. The company offers amortization of 25 to 30 years. The loans are typically recourse during the construction phase, followed by non-recourse.
Johnson Capital (310-286-7400) arranged $75 million in financing for a private trust on the Mira Mesa MarketCenter located in San Diego, CA. The terms of the deal consisted of a 10-year fixed rate loan. The 487,807 sq.ft. center is anchored by Home Depot, Albertsons, Long’s Drug Stores, Edwards Theatres, Ross Dress For Less, Barnes & Noble and Old Navy. Johnson Capital (949-660-1999) arranged a $7.65 permanent loan for an Orange County-based real estate investor throughout Dillion Reed Capital Management. The loan is secured by four office/retail properties containing more than 40,887 sq.ft. of space in Maple Valley, Covington and Edgewood, WA.
First Bank of Beverly Hills (800-515-1616) offers loans nationwide from $1 million to $20 million for retail, apartment, industrial, office, self-storage and mobil home parks. The company offers the following: tenant-in-common financing, permanent loans and fully adjustable three, five, seven and 10-year rates, a conversion option and interest only. Loans are typically 10 years, with amortization of 25 to 30 years, an LTV of 75% minimum, with DSCR of 1.25:1 minimum. Special loan features include interest only for up to five years for lower LTV loans, conversion from adjustable to fixed rate, a line of credit secured by income property, a reverse 1031 financing, a tenant-in-common ownership structure and staged funding. The company finalized these recent transactions: $1.755 million in refinancing for a 22,500 sq.ft. center in Los Angeles, CA; $2.6 million in refinancing for a 19,888 sq.ft. center in Sacramento, CA; and $1.69 million for an 8,138 sq.ft. center in Citrus Heights, CA. |