Specializing in bridge loans and short-term (or gap) commercial real estate loans for all asset classes* in the USA and Canada ranging from $5 million to $150 million.
Rather than waste our clients' time with excessive documentation requirements and red tape, we focus on a few key metrics and criteria that we believe are essential to a commercial real estate project's success. We specialize in creative funding!
For deals that meet our criteria, we move fast - often closing in as little as 14 days. This enables our clients to take advantage of opportunities they might not otherwise be able to.
Properties: Commercial Real Estate (most asset classes)
Locations: United States (all 50 states) and Canada (no true rural areas or vacant land)
Collateral Required: Commercial Real Estate / Full Recourse
Loan Amount: $5M - $150M
Interest Rates: 8% - 11%
Points: 3 - 5
Terms: 1 - 3 Years (Interest Only)
Prepayment Penalty: None
Upfront Fees: None
LTV: 70% - 75%
The 30% - 25% needs to be in either cash, equity within the current project and/or cross collateralization of other owned commercial real estate projects
Ø Project must be income producing
Ø Principals must have 25% - 30% “skin in the game” for all ground up construction projects
Linda King, Owner
Legacy Asset Solutions