Interim Financing Terms

Senior Debt: Short-Term

Eligible Properties	Office, Retail, Multifamily, Industrial, Warehouse, Self Storage, Manufactured Housing, Land and Hotel
Loan Term	Up to 3 years
Eligible Collateral	First Mortgage, usually non-recourse
Loan Amount	$1-50 million
Transaction Costs	Expenses include the cost of an Appraisal, Phase I Environmental and Engineering reports, title insurance and lender legal fees.
Interest Rate	Starting at 9%. Varies depending on property type, term and LTV. Typically 12-14%, but could be higher or lower.
Amortization	Generally interest only
Loan To Value	Up to 95% (total capital stack)
Fees	As low as 3% of total loan amount or commitment
Deposits	$5-35,000, non-refundable, depending on transaction type and size; used for third party fees and credited at closing
Loan Commitment	Usually within 10 business days of an executed application, receipt of related funds, requested Borrower data and third party reports.
Recourse	Non-recourse, with the exception of standard carve-outs.
Prepayment	Flexible, as long as IRR is achieved
Entity	Mortgagor may be in the form of a corporation, a limited liability company or a limited partnership, but in any case must be organized as a Special Purpose Bankruptcy Remote entity.

Eligible Properties	Office, Retail, Multifamily, Industrial, Warehouse, Self Storage, Manufactured Housing, Land and Hotel
Loan Term	Up to 5 years
Structure	Mezzanine, second mortgage, B-note, C-note, Preferred equity
Loan Amount	$1-10 million
Transaction Costs	Expenses include the cost of an Appraisal, Phase I Environmental and Engineering reports, title insurance and lender legal fees.
Interest Rate	Coupon rate as low as 10%. Minimum IRR of 15%
Amortization	Generally interest only.
Loan To Value	Up to 95% (total capital stack)
Fees	As low as 4% of total loan amount or commitment
Deposits	$5-35,000, non-refundable, depending on transaction type and size; used for third party fees and credited at closing
Loan Commitment	Usually within 10 business days of an executed application, receipt of related funds, requested Borrower data and third party reports.
Recourse	Non-recourse, with the exception of standard carve-outs.
Prepayment	Flexible, as long as IRR is achieved
Entity	Mortgagor may be in the form of a corporation, a limited liability company or a limited partnership, but in any case must be organized as a Special Purpose Bankruptcy Remote entity.