nnn@michaellewisgroup.com 440-637-5646

NNN Retail / 100% LTC Build To Suit Construction Loans

100% financing for pre-leased NNN

We provide 100% financing for development projects and we only work with pre-leased credit development projects.

100% financing for pre-leased NNN credit development projects USA and Canada

100% financing for development projects and we only work with pre-leased credit development projects. Must have a lease in place or a hard LOI from prospective tenant. Credit rated tenants and NN or NNN preferred. Can include land acquisition if it is controlled / at least under contract. Can be a single project or several.

For credit, pre-leased, “household-name” development, assume the loan will be 100% of cost not to exceed 80% of ultimate value (stabilized).

Q: Does the 100% loan program cover the cost of the land and soft costs? Yes, it covers the total project cost including land, hard costs, and soft costs. It even includes a reimbursement of legitimate, third-party predevelopment expenses.

Q: Does the borrower need to own the land and have soft costs and horizontal already taken care of / owned? The borrower just needs to control the land by way of a purchase contract. We need to get a package when the land is under contract and the developer at least has an LOI with the tenant.

Recourse is negotiable. We have some trade secrets that could alleviate your having to sign personally.

The borrower will never be relieved from recourse for construction completion, environmental nor “bad boy” clauses.

The rates seem to change daily. We make the lenders compete!

No lender participation.

The lenders want to charge a point going in and same at exit. (This is negotiable.)

The total cost of the loan including the interest and the points for a 100% loan may be higher than the blended rate of a bank loan and equity capital, depending on what you must pay for equity capital.

Broker origination 2 points.

Usually 18-24 month term; can pay off sooner. Term can be extended at a charge.

The lenders want to establish a credit facility, not just do one-off.

Must be presented so the lenders must understand (be able to predict) the exit cap rate w/in a narrow range and exit which can be a sale or a perm loan.

Usually, there is a about a two-point spread between yield on cost (NOI ÷ Total Cost) and exit cap rate (NOI ÷ Sales Price or Value). A 1.5% spread could be enough.

No dollar limit.

Anywhere in the US or Canada.

nnn@michaellewisgroup.com 440-637-5646

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