This is a “single close” construction loan which is also the permanent financing for multi-family, senior or student housing, hospitality, office and other categories for investment grade clients.
4.25% fixed 15 years (30 year amortization) 4.702% *APR (annual percentage rate).
Closing costs include 4 points. When considering the 4.25% is also the rate during construction, and the fact that this program is also the permanent financing, this may well be the best such product in the market place. Minimum loan amount $20M. Maximum loan amount $750M. 70% loan-to-costs. This loan is non-recourse. Call for details.
Also offering, Construction loan only with permanent financing offer upon completion.
Prime + 1.25% @ only 1 point for 24 months for loan amounts $5M to $100M on multi-family, office, warehouse, self storage, mixed use, dental, medical and more. 75% loan-to-cost. 1.25%-1.35% debt service based on projections. Non-recourse. Low initial deposit. Brokers welcome.
Fees, points, and program parameters subject to change without notice.