CFG

The program offers competitive terms for acquisition and refinancing of Assisted Living and Congregate Care Facilities, Nursing Homes and Seniors Housing programs.

MINIMUM LOAN: $5,000,000.00 LOAN TERM: 5 to 30 Years AMORTIZATION: Up to 30 Years MINIMUM DSCR: 1.35x to 1.40x (Minimum DSC reduced by five bsp for tax exempt bond financed projects) MAXIMUM LTV: Case by Case INTEREST RATE: Fixed ELIGIBLE PROPERTY TYPES: Congregate Care and Assisted Living Facilities,  Nursing Homes and Seniors Housing ELIGIBLE BORROWER: Single Asset Entity OCCUPANCY REQUIREMENT: Up to 90% Physical Occupancy for 60 days at application 90 days at commitment TAX AND INSURANCE ESCROWS: Monthly Deposits Required. May be waived if certain criteria are met REPLACEMENT RESERVES: Underwritten at a minimum of $150 per unit per annum - Monthly deposits may be waived if certain criteria are met RECOURSE: Case by Case. In Some Cases Non-Recourse With Standard Exceptions For Fraud and Misrepresentation COMMERCIAL SPACE: Maximum 10% of net rentable area REQUIRED REPORTS: MAI Appraisal, Property Condition Assessment, Phase I and others if applicable PREPAYMENT: Defeasance or Yield Maintenance ASSUMABLE: Subject to Approval and Fee SUBORDINATE FINANCING: Not allowed SUPPLEMENTAL LOANS: Eligible for secondary financing after 12 months subject to approval PRICING: Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV RATE LOCK: Standard 10 day rate lock periods ORIGINATION FEE: PAR to 3% (In Addition to Closing Costs) CONSTRUCTION FINANCE: Construction financing may be available at (TBD LTV) of project cost. Term (interest only) 12 to 36 month depending on the project.  Upon project's 90% occupancy it may qualify for refinancing under above stated terms. Full recourse required during construction period. Other terms and conditions apply

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Above terms or program availability may change without prior notice