Traditional, Bridge & CMBS Finance Solutions All Properties

Hello All,

This is our first blog posting.

We have over 30 years of lending experience and great products to offer investors and business owners.  If your deal can be done then we can get it done!

Commercial Mortgages

2.5% Fixed Multifamily Mortgages

We have both traditional and non-traditional options available for qualified borrowers.  Our traditional offerings include a 2.5% FIXED interest Multifamily mortgage with a 35 year term.  This product is fully amortized and fully assumable making it a powerful negotiation resource should you decide to sell the property.  Additionally, this product is non-recourse with no pre-payment penalties.

Eligibility:

  • Multifamily properties: Apartment Buildings, Assisted Living, New Construction,  
  • Minimum Request: $2,000,000
  • DSCR: 1.2x 
  • Occupancy: 90%
  • 680 Credit score

*We also have a fantastic bridge program for Multifamily Properties: minimum  request is $3,000,000 with an FHA Exit in order to get the property on the right track and profitable again*

Commercial Mortgage Backed Securities Loans (CMBS)

Your credit is not an issue with our CMBS option.  

Eligibility:

  • Any income producing property will be considered. (Office, Retail, Multifamily, Hotel, Industrial, Mixed Use, Self-Storage, Manufactured Housing)
  • LOAN AMOUNT: $5.0 million – $120 million
  • MARKETS: Primary and Secondary Major Metropolitan Markets
  • SECURITY: First Lien Mortgage
  • TERM (YEARS): 5 – 10 years
  • AMORTIZATION (YEARS): 25 – 30 years
  • MAXIMUM LOAN TO VALUE: 75% or higher in some cases
  • MINIMUM DSCR: 1.25x
  • INTEREST RATE: Applicable treasury plus 200 – 300 bps, floors may apply based on current bond yields
  • EARLY RATE LOCK: Riskless rate lock up to 60 days
  • RECOURSE: Non-Recourse, except industry standard carve-outs
  • PREPAYMENT: Permitted after a typical lock out period, subject to defeasance. Yield Maintenance available at premium pricing
  • ASSUMABLE: Permitted, subject to Lender’s Approval and 1% assumption fee
  • BORROWING ENTITY: Entity acceptable to Lender, with sufficient experience, liquidity and net worth
  • RESERVES: Real Estate Taxes, Insurance, Replacement Reserves, TI/LC (if applicable), and others as reasonable determined by the Lender

Bridge Loans

Eligibility:

  • LOAN AMOUNT: $5.0 million to $50 million
  • MARKETS: Primary and Secondary Major Metropolitan Markets
  • ELIGIBLE PROPERTIES: Preferred: Office, Retail, Multifamily, and Industrial; Secondary: Hotel, Self-Storage, Manufactured Housing
  • SECURITY: First Lien Mortgage
  • TERM (YEARS): 2-5+ years
  • AMORTIZATION (YEARS): 30 years
  • LOAN TO COSTS: Up to 80%
  • MINIMUM EXIT LTV: 70%
  • MINIMUM DSCR: 1.15x as is, 1.30x stabilized, lower initial DSCR options available
  • MINIMUM EXIT DEBT YIELD: 10%
  • INTEREST RATE: 5.00% - 6.00%
  • RECOURSE: Non-Recourse, limited in certain cases, e.g. for completion of renovations
  • PREPAYMENT: Declining fixed fee with last 6 months open
  • ASSUMABLE: Generally not
  • ORIGINATION FEE: 0.75% – 4.0% of Loan Amount
  • EXIT FEES: 1.0% of Loan Amount (waived if affiliate provides take-out)
  • BORROWING ENTITY: Entity acceptable to Lender, with sufficient experience, liquidity and net worth
  • RESERVES: Real Estate Taxes, Insurance, Replacement Reserves, TI/LC (if applicable), and Others as reasonable determined by the Lender
  • OTHER: For transitional properties, plan must be clearly defined and based on current market conditions Lender reserves the right to bifurcate the financing into A and Mezzanine or B Note

Both CMBS and Bridge Loans can be funded in 30 days (or less) provided that all documents are submitted in a timely manner & appraisals are completed.

We are ready to work with your company!

Thank you,

Business Development

www.precisebc.com

info@precisebc.com

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