Construction Financing

Our construction financing options are
available to all States.  A basic description of project qualifications and the program’s general parameters is found below.  Should you have any questions, please feel free to let us know.

Construction Financing Program Highlights:

  • Amount:  $1,000,000 – $100,000,000
  • Typical Loan to Cost:  65% LTC
  • Increased Loan to Cost to 85% LTC with Mezzanine / Preferred Equity
  • Equity:  Up to 90% of required equity
  • Rate:  5%
  • Term:  1 – 3 years usually with permanent financing after construction
  • Amortization:  None
  • Non-Recourse:  Available
  • Prepayment Penalty:  1%

 

In order for us to proceed to a formal loan offer we will need to review the following
information:

  • Current dated business financial statements and personal financial statements on the
    individuals of the borrowing entity
  • Global Schedule of Real Estate Owned by the principals of the borrowing entity (sample schedule attached)
  • Recent credit report for the principals of the borrowing entity
  • Itemized construction budget indicating total project costs, costs paid to date and costs to be paid.   (sample form attached)
  • Proposed drawdown schedule during construction and lease up
  • Operating proforma through lease up and stabilization
  • Recently completed market / feasibility study if available
  • Copy of project approvals
  • Bio’s on the entire project team (General contractor, architect, engineer, leasing and
    marketing firm, project manager, etc)
  • Architect renderings of the project
  • Digital photos of the subject site and surrounding area