The development of large commercial real estate projects can require a tremendous time investment on the part of the developer to negotiate and secure the equity participation required for the type of lending normally available for these projects. In addition, an equity partner can often command a disproportionate share of the equity in the project in return for their financial investment. Our program is different. Term of 2 to 7 years.
Term can include acquisition, construction, and stabilization phases.
Interest at 275 basis points above the 10 year Treasuries. Insurance company guaranty provides non recourse loan and guaranteed exit strategy. Developer retains management control of the project. All we need to start are the executive summary, cash flow projections, and if available, the feasibility study. Underwriting makes a determination whether an application will be issued, and closing can usually occur within 120 days of collection of all underwriting documents.