Loan Profiles

Property Types

Office, industrial, retail, apartments, mobile home parks, R&D, mini-storage, condo conversion, and on a case by case basis; land, entertainment complexes, hotels and motels, and other specialty properties.

Geography

USA Nationwide, but prefer Western States

Loan Size

$500,000 minimum to $25,000,000 ($1,000,000 minimum outside California.)

Security

First and/or second mortgages

Funding Time

Two weeks or less. As fast as 48 hours under emergency circumstances with proper documentation.

Borrower Profile

Prefer entrepreneurial, hands-on leasing and management, proven experience, local market presence, credit-worthiness.

Leverage/Equity

Loans to 75% LTV (Higher LTV considered on purchase transactions and special circumstances.)

Loan to Cost

Up to 75%, possibly higher for special circumstances.

Pay Rate

Positive debt service coverage preferred.

Loan fees

2 to 5 points depending upon type of deal and term.

Rate

Short term fixed or adjustable rates (currently 9% to 12%).

Term

One to ten years. (Construction loans typically 1 to 2 years)

Amortization

Interest only.

Recourse

Depends on deal specifics.

Prepayment

Typically no prepayment penalty.