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Sources Of Financing
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Sources Of Financing Aries Capital (602-952-9952) offers permanent loans from $2 million to $100 million for Class A and Class B properties with LTV of 75%, a minimum DSCR of 1.25:1, loan terms of five, seven and 10 years and an amortization of 20 to 30 years. Loans under $4 million may qualify for reduced fees and costs. The company also offers an interim program with loans from $2 million to $100 million for Class A and Class B properties with LTV of 75%, a minimum DSCR of 1.15:1, loan terms from one to five years and interest-only amortization for terms ranging from 15 to 30 years. The company also offers a mezzanine program, which offers loans from $1 million to $15 million for Class A and Class B properties with LTV of 90%, a minimum DSCR of 1.05:1 and loan terms of one to five years.
Harbor Capital Group (832-203-6662) arranged $150 million in financing for US Advisor, in partnership with CB Richard Ellis, for RAIT Investment Trust, a commercial real estate direct lender. The facility, which will fund up to 90% of the acquisition costs for multi-family and commercial properties, will accelerate the closing process on targeted properties.
Harbor Capital Group (832-203-6662) arranged a $30.4 million floating rate loan with Archon Financial for the acquisition of The Block, an infill mixed-use property with Class A apartments and 27,984 sq.ft. of retail space located in Richardson, TX. The apartments were 70% occupied at closing, while the retail space was 10% occupied at closing.
Trillions Capital Group, Inc. (954-755-8881) offers equity/mezzanine financing for medium to large projects nationwide from $5 million to $150 million. |