Acquisitions & Development

1. Understanding your projects needs and requirements
2. Creating a tailored loan request package specific to the funder
3. Making the underwriting process quick and efficient
4. Offering a wide range of exit strategy options
5. Ensuring that the money is there when you need it

We have pleased to announce that despite market conditions we are still able to offer ground up financing. The current available programs are specific to Multi Family, Assisted Living, and Senior housing development. Must be primarily a rental, but can contain upto 30% of other asset type (ex.Retail component)

General Lending Parameters:

• Max loan proceeds are lesser of 90% LTC, 90% of DSCR or State Statutory Limit
• Comply with Davis Bacon wages as determined in your area
• One loan
• Non recourse
• Approval by local field office; Stage I review includes:
  • Existing land value assessment
  • Construction Cost (Ratio's)
  • 1 yr Proforma
  • Executive summary
  • Developer experience

Some of the factors that determine the final interest rate and fee for each loan:

• The term of the loan.                                                                                     
• The degree of entitlement risk.
• The financial strength of the borrower.
• The project economics.
• The track record and experience of the development team.
• Soundness of the development plan.
• The amount of borrower equity in the deal.
• The project LTV or LTC.
• Size of the development reserve required.
• Market conditions.
• The exit strategy.

Primary Asset Types -