$500,000 to $10,000,000. Preferred loan size ranges from $2,000,000 to 7,000,000.
Up to 70%. Typical LTV is 60%-65%.
1-5 Years. Preferred term is 2-3 years.
For lease-up costs and earn-outs
1st Deed of Trust or Mortgage on commercial property.
Other collateral or liquid assets may be pledged as extra credit enhancement for the loan.
Non-recourse available based on property and loan characteristics.
Variable or fixed.
Variable: Libor + Credit Spread
Fixed: Swap Yield + Credit Spread
Based on property and loan characteristics. Typically ranges from 7.00% to 11%.
Depends on transaction. Typically starts at a couple of points. The origination fee can be wrapped into the loan so that it is not out of pocket.
Usually none after a short lock out period.
Nationwide