 | MINIMUM
LOAN:
$5,000,000.00 |
|
| LOAN
TERM:
12 to 36 Months.
Extension options available |
|
| AMORTIZATION:
Interest only or
fixed principal paydowns |
|
| MINIMUM
DSCR:
1.10x "As
Is" - 1.20x - 1.25x at Exit |
|
| MAXIMUM
LTV:
Case
by Case |
|
| INTEREST
RATE:
Floating rate over
LIBOR index. Spread varies based on
risk and terms |
|
| ELIGIBLE
PROPERTY TYPES:
Apartments, Office,
Retail, Hospitality, Industrial and
others |
|
| ELIGIBLE
BORROWER:
Single Asset Entity |
|
| SPONSORSHIP:
Good overall credit
with sufficient liquidity and
demonstrated experience completing
similar projects |
|
| TAX
AND INSURANCE ESCROWS:
Monthly Deposits Required |
|
| REPLACEMENT
RESERVES:
Monthly deposits Required |
|
| SECURITY:
First mortgage lien
on subject property. If applicable,
additional credit enhancement
(recourse, other collateral, letter
of credit or other guarantees) to be
determined |
|
| REQUIRED
REPORTS:
MAI Appraisal,
Property Condition Assessment, Phase
I and others if applicable |
|
| SUBORDINATE
FINANCING:
Mezzanine if provided
by CFG or an approved third party
lender |
|
| SUPPLEMENTAL
LOANS:
Eligible for
secondary financing after 12 months
subject to approval |
|
| CLOSING
COSTS:
Deposit
required for third party reports,
processing costs, title and legal.
Travel and other standard costs if
an when applicable |
|
| ORIGINATION
FEE:
Minimum 1% to 3%. (In
Addition to Closing Costs) |
|
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|
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|
Above
terms or program
availability may change without prior notice
|
