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LARGE PROJECT FUNDING!
Big Project Funding – 100% LTV!
I’ve developed a relationship with a family office that has a new bond fund that is looking for projects from $100 Million to $5 Billion plus. They just closed a $400 Million deal and I have multiple deals I have begun to send them, in various stages.
Key points are:
– Go to 100% on the financing including costs
– Non-recourse
– Rates between 5.75% and 6% interest only!
– Points and costs can get rolled in also
– Projected profits from the project MUST cash flow the loan.
This is NOT a trade platform type of deal. It is ultimately bond financing however there is a $3 Million dollar escrow that will need to be put up AFTER commitment and we will require proof of $3 Million liquid before we bring the deal in. Really though, if you are trying to build something for $100 Million or more and you don’t even have $3 Million, what are you doing? Just being real. I don’t know how quickly they will fill up so I want to get as many projects in front of them as I can. So……
If you need large project funding for deals above $100 Million and you want me to get it in front of them it costs NOTHING to do….just send me the executive summary, pro-forma, sources and uses, etc.(a “package”) and I will underwrite it and get it in. They are ESPECIALLY hungry for energy projects of all sorts but they are entertaining a large hotel deal for me, a really large subdivision deal for rental houses, etc. Any project, send it in and let’s see what they will do! It costs nothing to see what they will offer. Questions? Give me a call at 512-358-1511 today or get started by filling out this form!
Large Project Funding Apartment Construction Loans
For apartment construction loans of $50 Million and up we can provide a combination of debt and preferred Equity/Mezzanine up to 85% loan to cost! We can get up to 65% on the first mortgage at rates in the 4’s and do a 20% preferred equity or mezzanine piece to round out the capital stack-super aggressive financing! In fact, we can do up to 90% LTC for Class A Multi-family in major metros on these larger projects!
What is the minimum loan amount for apartment construction loans?
$1,000,000.00 dollars is the smallest amount we can finance.
NEW – Apartment Construction Loans Now Can be Taken Out with a HUD 223(f)
In an effort to preserve and expand the supply of affordable and workforce housing, the U.S. Department of Housing and Urban Development (HUD) has announced a major change to the FHA Section 223(f) program eligibility for apartment construction loans. Borrowers no longer need to wait 3 years after the original Certificate of Occupancy to apply for 223(f) refinancing.
Advantages of HUD 223(f)
This means that new or recently rehabbed multifamily properties that have loan amounts above $3,000,000.00+ can now be refinanced with the great terms Section 223(f) is known for, including:
- Amortization up to 35 years
- LTVs up to 85% for Market Rate, and up to 90% for Affordable
- Non-Recourse
- Cash Out Allowed up to 80%*
HUD 223(f) Debt Service Coverage Ratio
Apartment Construction Loans eligibility is subject to the satisfaction of HUD underwriting requirements, which include a minimum DSCR of 1.17x for Market Rate properties and 1.11x for Broadly Affordable communities.
ABOUT 60% of my pipeline has some sort of construction component. WE KNOW APARTMENT CONSTRUCTION LOANS and can help make your vision a reality. Out biggest value we bring to the marketplace on these construction loans are EXECUTION and SPEED. We help get these deals funded and funded quickly. If you or anyone you know has need of construction financing, whether Ground Up, Tenant Improvement or Rehab…. we are the one stop source. Once I get the necessary docs you will get a quick answer and we NEVER TAKE A NON-REFUNDABLE APP FEE. That’s right, it costs NOTHING to get a pre-approval in writing and you risk ABSOLUTELY nothing giving us a call.
P.S. When most lenders say no, we say yes. Almost 100% of our closed loans were denied somewhere else BEFORE coming to me. When you call me, I quickly pre-view the loan and if doable, kick out terms at no cost to anyone. Once you move forward with us, we sink our teeth into the deal and have the tenacity to get that deal done even in today’s highly regulatory environment that seems to still be hindering lenders even with all the money available in commercial. It is really simple, if you want to close the loan, give me a call and let me make it happen for you.
Give me a call today to discuss your project at 512-358-1511 today or get started by filling out this form!