Thursday, July 5, 2012

Lender Alert: Exclusive Rate Offering!

 

An Exclusive Rate Offering  

Limited
One of our primary lending sources is offering the following lending program on a limited basis
    
Parameters
  • Eligible Locations - US, with an emphasis on NY, NJ and PA
  • Property Types - Stabilized property types including Office, Multi-Family, Retail, Industrial, Hotel and Self-Storage Facilities
  • Loan Amount - $5,000,000 to $175,000,000
  • Loan Term - 5, 7 and 10 year loan terms
  • Amortization - Typically 30 years (shorter terms may be required based on property type and use)
  • Loan to Value - Up to 75%
  • DSCR  Minimum - 1.25x DSCR
  • Lender Fee - PAR
  • Reserves - Tax, Insurance and Replacement Reserves required
  • Recourse - Non-recourse, with the exception of industry standard "bad boy" carve outs
  • Assumability - Permitted subject to lender approval and an assumption fee
  • Prepayment - Defeasance with 2 year lockout and 90 day open period during the 90 days prior to scheduled maturity date. Yield maintenance available on a case-by-case basis

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