PERM LOAN PROGRAM - FL, NY, PA
Our primary focus is on properties in the state of Florida, Pennsylvania & New York.
FUNDING PARAMETERS:
Loan Amount $1-20MM
LeverageUp to 75% LTV
Fixed Rate Pricing
3- or 5-year term @ 6.25%-6.375% +25bps for retail
7- or 10-year term @ 6.125%-6.25% +25bps for retail
Term and Amortization
20-30 years (Rate fixed for 3-10 years with automatic renewals)
Property Types
Retail, Office, Industrial, Warehouse, Special Use NNN, Multifamily
Geography FL, NY, PA
Prepayment Penalty - Yield Maintenance
Recourse - Full recourse (limited recourse available)
Transactional Scenario - Acquisition or Refinance
✓ WILL rate lock for up to 85-days at application
✓ WILL lend to non-us citizens
✓ WILL lend on properties with near term lease expiration
✓ WILL fund unanchored retail assets
✓ WILL grant automatic term extensions with rate reset (never a balloon risk)
✓ NO fees for legal, No ALTA survey, PCA or Seismic reports required
✓ NO lender covenants or reporting requirements during the life of the loan
✓ NO requirement for windstorm coverage
✓ NO rent seasoning required
✓ NO impounding for insurance, TI/LC or reserves
Michael Lewis Group – info@michaellewisgroup.com – Tel: 440-637-5646