Real Estate Investment Banking Services
Loan Amount: $5M to $50M
Interest Rate: Approximately 6.25% tax exempt and 7.25% taxable
Terms: Up to 2 years interest only for construction and then a up to a 30-year amortization mini-perm mortgage; minimum 5-year term
Loan to Cost: up to 75%
Minimum DSCR: 1.30X
Guarantee: No personal guarantees, but S.P.E. guarantees required
Equity Potential: A portion of Developer, Architectural, and Advisory Fees may be used for equity
Mezzanine: Allowed with intercreditor agreements.
Project Cost: Can include placement fees and cost of issuance, construction interest reserve, lease up reserve and 1 year Principal and Interest Reserve.