Commercial Lending: Non-Recourse Office, Retail, and Warehouse loans

By
Mortgage and Lending with 23 Ventures LLC

We are please to announce the creation of our new Non recourse Loans

Eligible Locations: Strong/Stable primary and secondary markets- No tertiary markets. 150,000+ population within 5 mile radius of the asset.
Eligible Transactions: Acquisition or refinance of existing stabilized income-producing properties - no earn-outs
Eligible Properties: Multi-tenant office, retail, warehouse, industrial, credit singe tenant, also select flagged hotels.
Properties that are Not Eligible : Non credit single tenant, restaurant/bar, church/school/day care, funeral home, dry cleaner; any automotive fuel/service/repair; bed & breakfast; co-ops, rest/nursing home, health care; raw land; single family homes; no properties with high vacancy, environmental contamination, needing substantial rehab or tenant fit-up.
Transaction Size: $5 million to $35 million
LTV [The lesser of as-is appraised value or purchase price] Up to 75% for multifamily office, retail, industrial/warehouse; Up to 70% for hotels.Amortization 30 years
DSC: 1.20x multifamily, office, retail and industrial/warehouse; 1.30x hotel.
Loan Term: 5 or 7 year term based on fixed rate period selected - balloon at end of loan term.
Non-Recourse: No personal recourse to principals for loan. Traditional "Bad Boy" carve-outs are required for waste, hazardous substances, etc.
Second mortgage: Not permitted
Prepayment Penalties 5 year term: Year 1&2- locked out; Year 3-2 points; Year 4-1 point; Year 5-open
7 year term: Y ears 1, 2 & 3 - locked out; Year 4-3 points; Year 5-2 points; Year 6-1 point; Year 7- open
Underwriting: Full documentation on borrower and property

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We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.

The above information regarding Commercial Lending was provided by Christopher Hills, the Senior Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris.hills@in-visionfinacial.com or by phone at 508-377-5872 x 704.

I am dedicated to helping you find the right financial solution for the purchase or refinance of your next commercial project

For Commercial lending nationwide see  In-Vision Financial Holdings

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________________________________________________________________________________________________

We have Money to lend!!! We are in all 50 States and provide Great Service, are Honest and Show Professionalism.

 

  • Commercial Loans
  • Hard Money
  • Venture Capital

Christopher Hills, President & CEO , 23 Ventures LLC. Chris can be reached via email at chris@privatemoneyusa.com or by phone at  508-488-9186

For all Loan needs nationwide 23 Ventures LLC

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We have Money to lend!!!

www.privatemoneyusa.com

508-488-9186

 

 

 

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Topic:
Mortgage / Finance
Location:
Massachusetts
Groups:
Commercial Real Estate
Commercial Real Estate Financing
Commercial Real Estate Services and Products
MA REALTORS
Realtors®
Tags:
commercial lending
nonrecourse
commercial loans

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Rainmaker
255,717
Don Eichler
Century 21 Shirley Hooks, Inc.

Thank you for the above information, I Will be in contact soon.

February 03, 2009 07:15 PM
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Rainmaker
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Christopher Hills

Managing Dir. Lending
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