Bond/Private Placement Construction/Mini Perm Loan Program

  • 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.

    © 2020 Wedgewood Investment Group LLC