Seeking interest from lenders and investors to provide $18.5 million of revolving construction financing and $8 million of joint venture equity for the Phase I development of the highly-anticipated, fully-approved ("Project"), which will feature 78 units of luxury condominiums and townhouses -
Located on the northwest coast of New Providence Island, the Project site is one of the few remaining hillside sites on the island, which features spectacular ocean views.
Plus, New Providence Island has a limited supply of upscale, gated condominium communities. In fact, one new residential development in close proximity has reported over $100 million in sales of residences before the start of construction.
The Project is projected to generate more than $113 million in total sales and $10 million in net profit with an excess of 20% IRR and 1.7x equity multiple. Moreover, this Project will be developed by an experienced sponsor, whose principals have more than 60 years of experience in real estate development.
Please provide an executive summary for review, I possibly can assist you with securing the requested financing.
Commercial Mortgage Broker
Commercial Mortgage Funding, LLC
Tel: - (609)971-7171
Fax: - (609)971-7144
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work directly with a lender and we offer the following funding programs:
$100% financing/bond funding. This funding is 100% financing, but, the principal must be able to be able to pay for the underwriting, due diligence and appraisal fees. We charge NO UPFRONT FEES to review a transaction. After reviewing the transaction, we submit it to underwriting and we do a conference call. We do some "Q & A" with the client and at the end, the client decides if they want to go forward. They don't pay any fees until they decide And, we even give out references after the conference call. Yes, you can call our clients and get feedback.
Recourse Funding. Commercial and residential loans from $25,000 up to $500,000. This is an asset based, no-credit score and no personal guarantee loan. We offer bank rates from 4% to 5.5%. 70% LTV based on the ARV (after repair value) of the property. For buy/sell, it's 12-18 month interest only and for buy/sell, we can do a 5 to 10 year term based on a 20 to 30 year amortization.
Non-Recourse Funding. For our non-recourse lending for loans of 70% to 80% LTV based on the ARV. So, for example: you have a client that needs a loan for $3 million and the property is worth $5 million (refinance scenario). Here, there is no personal guarantee and it is asset based. The client MUST be able to show reserves and prove he can service the debt.
Should you have any other questions either e-mail me at firstname.lastname@example.org or call me direct at 551-208-7661.
worked in cayman so understand island life. email me and we can see what we can do
asked for info on feb 27 have had no reply guess you are set
Hello Michael, If you're still seeking funding regarding your Bahamas Commercial Project, please submit Exec. Summary / Details to our Investment Group @ Sunshinelmj77@gmail.com for review and consideration. We look forward to potentially doing business with you.