Real estate financing may be utilized to support the development of commercial residential and mixed-use projects. Loans to experienced developers of residential real estate and neighborhood retail centers will be considered.
- Construction of Apartments, Lofts/Condos and Single Family Home Developments
- Financing for Commercial Residential Rental Properties and Retail Centers
- Bridging Tax Credit Equity
- Purchase of Real Property Intended for Immediate Development
Loans of this type are intended to assist the developer in meeting the requirements of traditional lenders and are typically subordinate to the senior lender, but will not exceed 50% of the equity required for the project.
Financing types considered are:
- Bridge Loans to Facilitate the Timing Gap of Monetizing Tax Credits
- Construction Loans
- Term Loans (up to 7 years)
General Loan Criteria
- The borrower (developer) must provide financial projections for the project which demonstrate its viability along with detailed budgets and demonstrated repayment capacity.
- The developer/developers must provide three years of financial statements and sufficient information to evaluate the developer’s cash flow and debt service capacity.
- Real estate loans require an equity contribution by the borrower/developer.