Ø Properties: Commercial Real Estate (debt only)

Excluded: Restaurants/Lounges, Gas Stations, Vacant Land, RV Parks, Mining …

Preference: Multifamily (all types), Hotel, Retail, Office Buildings
Ø Locations: Projects located in USA (except CA/HI) and Canada

Ø Loan Types: Acquisition, Refinance, Debt Restructuring, Ground Up Construction

Ø Loan Amount: $5M – $100M ($3M - $100M in Canada)

Preference: $10M - $35M

Ø LTV Amount: 65%

Ø Typical Rates: 8% – 11%

Ø Typical Points: 3 – 5

Ø Typical Terms: 1 – 3 Years

Ø Payments: Interest Only (paid monthly)

Ø Required: 1st Lien Holder, CRE Collateral, Full Recourse/Personal Guarantees

Ø Other: NO Prepayment Penalty, NO Upfront Fees, NO Interest Reserves

Ø NO Credit Check

Ø NO Audited Financials

Ø NO Tax Returns

Ø NO New Appraisal

What is required in order to aid in the closing of funding requests?
Ø Executive Summary of Project

Ø Strong Personal Financial Statement(s) of all Equity Partners

o Resumes of all Equity Partners

o Strong Business Financials (if applicable)

Ø 35% Equity (made up of new cash, but can also include current project equity, a 2nd mortgage held by seller and/or cross-collateralization of other owned commercial real estate projects)

Ø Income Producing Properties (if purchase or refinance)

Ø Past 2 Years and Current P&L / Balance Sheets

Ø Rent Roll and Prior Phase 1 Environmental (if multifamily)

Ø Prior Appraisal or BPO

Ø Purchase Agreement (if purchase)

Ø Site Plan, Detailed “Use of Funds” Breakdown, Construction Contract, Contractors Resume (if ground up construction)

Ø Exit Strategy

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