Recently Financed Commercial Real Estate Transactions

Borrower was looking to take out construction financing on a recently developed multifamily property simultaneous with full lease-up and stabilization
  • 10 year loan, interest only, fixed rate 2.90%
  • 65% LTV, 8.00% Debt Yield
  • Non-Recourse
  • Yield Maintenance
  • Closed 45 days to avoid loan extension fee
  • Institutional Lender
Amount:$13,000,000
Type:Permanent Loan
Urban Infill Apartments
Location:Southern California
Borrower was looking for a combination construction loan that rolled into permanent financing and locked in at historically low rate:
  • 200 unit development in Southern California
  • Rate locked at application and fixed for 30 years
  • 65% LTV
  • Non-Recourse at stabilization
  • Life Insurance Company
  • 1.20 DCR
Amount:$70,000,000
Type:Construction/Perm Loan
Apartments
Location:Southern California
Borrower was looking for lowest possible floating rate loan with maximum interest only period and achieved 1.85% rate:
  • Grocery Anchored Retail Center in Southern California
  • Libor + 1.75%, Interest Only for 3 years than 25 year amortization
  • 70% LTV, 9.00% Debt Yield
  • Achieved during Covid showing strong track record and essential retail
  • No Prepayment Penalty, Full Recourse
  • Regional Bank
Amount:$37,000,000
Type:Mini-Perm: Retail
Location:Southern California
Borrower was looking to put subordinate financing behind an existing CMBS loan that did not allow subordinate financing:
  • 6% pay rate, accrued to 12% overall rate
  • 90,000 SF Class “A” Trophy Office Building investor.
  • Private East Coast Investor worked diligently with the borrower to overcome a number of issues including a complex ground lease.
  • 3 years with two 1 year extension options.
  • Proceeds used for working capital, TI/LC/Cap Ex to complete stabilization of the property.
Amount:$12,500,000
Type:Preferred Equity:
Office Building
Location:Santa Monica, CA
Borrower was looking to max proceeds for renovation of older property and lock in lowest long term rate:
  • 2.85%, fixed for 10 years, Interest Only
  • 125 unit garden apartment
  • 65% LTV/1.35 DCR
  • Non-Recourse
  • Yield Maintenance
  • Institutional Lender
Amount:13,500,000
Type:Permanent Loan
Garden Apartments
Location:Northern California
Borrower was looking to max proceeds for renovation of older property and lock in lowest long term rate:
  • 2.85%, fixed for 10 years, Interest Only
  • 85 unit garden apartment with government subsidies
  • 65% LTV/1.35 DCR
  • Non-Recourse
  • Yield Maintenance
  • Institutional Lender
Amount:$10,250,000
Type:Permanent Loan
Affordable Housing
Location:Secondary Location
Borrower was looking to maximize dollars and get a non-recourse loan and this loan achieved both goals
  • 35 year fully amortizing loan, 10 Yr Treasury + 1.75%
  • 83% LTV with a 1.20 DCR. The property was built approximately 10 years ago and the excellent condition of the property played an important role in maximizing loan dollars.
  • Non-Recourse
  • Yield Maintenance for 10 years then open to prepayment without penalty
  • Institutional Lender
Amount:$15,500,000
Type:Permanent Loan
Garden Apartments
Location: Riverside, CA
Borrower was looking for lowest priced Non-Recourse Construction Loan and Joint Venture Equity:
  • 65% Loan to Cost Construction Loan
  • Libor + 3.25%, Non-Recourse
  • JV Equity funded 95% of Total Equity Requirement
  • Urban Infill 225 unit project
  • Institutional Investor
  • 1.20 DCR
Amount:$95,000,000
Type:Apartments
Location:Southern California
Borrower was looking for permanent financing to take out construction loan on stabilized industrial property:
  • 3.50% 10 year Loan, 25 year amortization
  • 65% LTV/1.25 DCR/8.00% Debt Yield
  • 80,000 sf industrial building
  • Non-Recourse
  • Defeasance
  • CMBS Lender
Amount:$10,000,000
Type:Permanent Loan
Industrial
Location:Southern California
Borrower was looking for quick close acquisition financing on off-market industrial property:
  • 4.00% 10 year fixed, Interest Only
  • Included TI/LC reserve for future lease-up
  • 90,000 SF distribution building
  • Non-Recourse
  • No Prepayment Penalty
  • Regional Bank
Amount:$8,400,000
Type:Permanent Loan
Industrial
Location:Inland Empire, CA
Borrower was looking to maximize dollars and get a non-recourse loan and this loan achieved both goals
  • 35 year fully amortizing loan, 10 Yr Treasury + 1.75%
  • 83% LTV with a 1.20 DCR. The property was built approximately 10 years ago and the excellent condition of the property played an important role in maximizing loan dollars.
  • Non-Recourse
  • Yield Maintenance for 10 years then open to prepayment without penalty
  • Institutional Lender
Amount:$15,500,000
Type:Permanent Loan
Garden Apartments
Location: Riverside, CA
Borrower was looking for Joint Venture Equity and Credit Enhancement on Infill Multifamily Development:
  • JV Equity funded 95% of Total Equity Requirement
  • $75,000,000 Total Cost
  • 10% preferred return, 35% Promote
  • Urban Infill 225 unit project
  • Institutional Private Equity guaranteed the construction loan
Amount:$20,000,000
Type:Joint Venture Equity: Apartments
Location:Southern California