BRIDGE LOANS

BRIDGE LOANS
Location Nationwide
Loan Amount $1 – $20 million; may go higher in select cases
Term 3 months -3 years
Loan-to-value (LTV) Up to 65% on “As Is” Valuation (may go to 75% in select cases)
Debt Yield 10% or greater.
Purpose Acquisition / Refinancing / Note Purchase / Re-Capitalization
Loan Type Fixed rate, short-term
Pricing Pricing will vary; rates will typically fall in 8.25% – 11% range depending on risk and timing
Minimum DSCR 1.15x DSCR on underwritten net cash flow
Recourse Typically non-recourse except for certain standard carve-outs
Origination Fees 1.5% to 3.5%
Prepayment 6-month interest guarantee, no-prepayment in select cases
Borrowing Entity Bankruptcy-remote, special purpose entity
Property Types Multifamily, Retail, Office, Industrial, Hotel, Self-Storage, Mixed-Use, Fractured Condominium properties located in California. May selectively provide financing on properties in other major markets
Escrows Generally required interest-reserve payments if there is no current cash-flow

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