Bill,
We may be able to do
a 90% LTV loan for this project.
I am a finder for a
gentleman who has direct contracts with five high net worth individuals. They
provide loans for quality commercial real estate projects. We have access to
$1.4 Billion.
RE Lending Guidelines:
1. Will fund 90-100% of acquisition and development costs.
2. Project out of the box (developer not experienced with this type project, or project not completely clean) - may still fund it at 70% and charge more points and higher interest rate.
3. Loan amount will never exceed 70% of end value of project.
4. Person doing project should have financial substance, personal substance, experience with type of current project, good track record, and good credit.
Corporate Acquisitions:
Will loan 80% to valuation on quality projects.
RE Lending Guidelines:
1. Will fund 90-100% of acquisition and development costs.
2. Project out of the box (developer not experienced with this type project, or project not completely clean) - may still fund it at 70% and charge more points and higher interest rate.
3. Loan amount will never exceed 70% of end value of project.
4. Person doing project should have financial substance, personal substance, experience with type of current project, good track record, and good credit.
5. Points range from 3 to 10. Interest rate ranges
from prime plus 2 to 15% or more.
6. Minimum loan amount in CA is $1MM. Minimum
amount outside CA in the US is $2.5MM.
Corporate Acquisitions:
Will loan 80% to valuation on quality projects.
I also have a source for equity partnering on
commercial RE projects in the US. He has a
$300MM equity fund. Minimum project amount is $10MM. After the developer taking
a management fee, equity is
split 50-50%.
Please contact me
for more information.
Greg
Bjorgo
Redwood City, CA
415-846-3352
"pezman.rm" <[EMAIL PROTECTED]> wrote:
Hello All:
Need an 80%LTV Land acquisition loan in North Carolina. Clent will
develop
single family homes. Must be able to finance 80% of 2.3 million.
Sincerely
Bill Perez
Wellington Capital Group Inc.
12797 Pineacre Court,Suite 200
Wellington,Fl 33414
866-459-3716
Fax 775-251-8840
[EMAIL PROTECTED]
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