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Sources of Financing
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Sources of Financing Cornerstone Capital Corp. (614-761-2900) offers funding for owners, tenants and partners involved with freestanding commercial real estate nationwide. Cornerstone lends money through specialized floating rate or fixed rate financing programs secured by real estate. Cornerstone’s floating rate note financing is based on very low adjustable interest rates in the commercial paper market, and is broadly applicable for most real estate types. The company’s Credit Tenant Net Lease program delivers non-recourse, fixed-rate debt for single tenant net lease properties. Cornerstone also acquires single-tenant real estate through direct purchase from owners, small or large sale and leaseback transactions, and tri-party purchase and lease transactions. Cornerstone’s investment activities also include direct equity investments and joint venture development. The company also develops build-to-suit real estate for single tenant users nationwide. Cornerstone develops in new or existing markets as a preferred developer and makes investments to support growth into new markets for retail, restaurant, medical facility or distribution clients.
GE Real Estate (203-357-3327, 203-316-7765, 949-477-1530/1509 or 972-728-7546) offers a retail preferred equity program with the following options: opportunity buys, value-creation plays, recapitalizations and stabilized, high-quality assets in primary markets, rehabs and new construction; investment with preferred equity from 50% to 80% of capital structure, subordinate to senior debt and senior to common equity; pricing commensurate with market and based on preferred equity tranche in capital structure. The company also offers the following retail equity program: deals from $20 million to $50 million, 70% to 80% leverage with portfolios preferred, as well as supermarket or discount-anchored neighborhood and community centers. The company offers partner buyouts, recapitalization, renovations/rehab and redevelopments and expansion.
Across America Real Estate Corp. (303-893-1003) partners with national retailers to provide 100% project funding for rapid retail expansion. Across America strives to create financing solutions for increasing retail productivity and profit.
Bank Atlantic (954-940-5313 or 321-263-2122) offers loans for the following property types: multi-family, anchored retail, office/warehouse, owner/occupied facilities, office buildings, self-storage facilities, development and construction, and/or expansion, land development and acquisition and refinancing of existing projects. The company also offers non-recourse permanent financing with fixed rates and aggressive pricing and corporate loan programs, which include asset-based lines of credit, term loans, inventory equipment, working capital loans, and letters of credit.
Meridian Capital Group, LLC (212-972-3600) financed the following projects: $12.5 million for a 77,280 sq.ft. four-story retail building in the Bronx, NY; $11.7 million for a 45,000 sq.ft. center on 86th Street in Brooklyn, NY; $4.25 million for a 31,644 sq.ft. center on Lee Highway in Arlington, VA and $1.85 million for a 7,364 sq.ft. retail site on South Harlem Avenue in Orland Park, IL.
Northmarq Capital (813-223-3088), a national real estate banking corporation, provides financing for commercial real estate and multi-family properties nationwide. For retail sites, the company offers fixed terms from three to 25 years, amortization up to 30 years and a rate of 80 to 150 bp over the U.S. Treasury. The company recently made the following transactions for retail properties: $23 million for Main Street at Hampton Lakes in Tampa, FL; $2.5 million for La Viva Plaza in Brandon, FL; and $5.4 million for Park Square in Lithia, FL.
Prudential Mortgage Capital Co. (888-263-6800) offers capital markets financing with selective large loans and portfolio loans from $40 million or more; general account financing with rate lock at application, forward commitments, earnouts, holdbacks and interest-only periods; interim bridge financing with no prepayment penalty, 30-day LIBOR based pricing, multiple/staged fundings, collateral enhancements, minimal recourse requirements, fee schedule applicable and anticipated conversion to permanent, long-term, fixed rate; and floating rate financing with non-recourse loans with standard carve-outs.
Eastern Missouri Investments (636-456-1000) offers loans for the following types of properties: owner/user properties, apartment/multi-family, healthcare/senior housing, condominium conversions, anchored and unanchored retail, mobile home parks, office and medical buildings, industrial/warehouse, self-storage, gas station/convenience stores, mixed-use/special purpose, single tenant NNN, hotel/motel, golf course/resorts/gaming, outlet malls, church/synagogues and raw and improved land. Fixed percentage rates range from 5.49% to 12.38%, with LTVs ranging from 65% to 90%, loan terms from three years to 25 years and amortization from 10 years to 30 years.
Interlachen Financial Group (407-539-1600) offers long term, fixed-rate mortgages for income producing and owner occupied properties: Loans with the following terms are offered: a minimum of $1 million with permanent, joint venture or equity financing for anchored shopping centers, office buildings, industrial properties, manufactured home parks, medical offices, retail properties, multi-family properties, mini-storage warehouses, hotels/motels and warehouses.
Great Florida Bank (305-514-6987) offers acquisition, construction, renovation and longer term financing for retail centers, apartment projects, hospitality, industrial, build-to-suits and office projects, as well as acquisition and development and construction financing for residential subdivisions.
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