“Lend is not a four letter word.”
Some are in a challenging financial climate, as long as you currently maintain your credit score in good or impeccable standing, chances are you have the ability of receiving approval for a commercial real estate loan. Our commercial lending professionals are strategic in organizing your scenario. Now is the time we can offer your company flexible financing. We work with local commercial bankers who are creative in making your commercial real estate transaction happen, besides our selective nationwide commercial lenders.
Alternative Apartment Financing and Multifamily Loans
Take advantage of our competitive Apartment Financing and Multifamily products with financing services geared towards your real estate investment.
In today’s market, the investor knows its time buy apartments and fractured condos.
The demand for rent is becoming an epidemic; rent inflation is popular, a precise time in real estate where investors are back purchasing apartments, fractured condos, multifamily and mixed use buildings.
What is Mixed Use? Retail and Apartments combined in one building
- Minimum Loan Amount: $500,000
- Better Credit Scores Provide Higher Loan to Value and Conservative Interest Rates
- No upfront commercial broker fees
Some Fractured Condos are distressed assets; they have incomplete construction or when there are more unsold condo units than sold units in the development. At that point, the units are listed for sale for an investment partnership to purchase the fractured part of the apartment-condo community, which are either incomplete construction or simply unsold. On the other hand, there are existing multi units of an apartment-condo community, such as 20 units or more that are owned by investment partnership, which either are listed for sale or refinanced into a commercial real estate loan.
A developer seeks a fractured condo purchaser when more unsold units than sold units equate to a possible financial liability, and can no longer hold the community development overhead. In the end of this scenario, an investor or an investment pool may purchases the remaining units at wholesale or a possible distressed value.
- From 2 condos to 200 Condos
- Purchase or Refinance
- Partial Lien Release- Okay
- Underwritten like Multifamily
- Builder Controls HOA-Okay
- Interest Reserve-Yes
- Condo Projects that are partially or fully rented
- Loan to Value: 75%
- Terms: 6-24 months
- No Pre-Payment Penalty
- No upfront commercial broker fees
Blanket Commercial Mortgage
A mortgage which covers two or more pieces of real estate. The real estate is held as collateral on the mortgage, but the individual piece of the real estate may be sold without retiring the entire mortgage. Source: Investopedia
- Starting loan amount 5m and up
- Minimum credit score 680
- Conservative Rate and Terms
- A blanket loan is ideal for developers and real estate investors who have multiple properties that can be accepted for cross-collateralization
Alternative Commercial Real Estate – Conventional Term Loans
Ask us how a term loan from us can help you strengthen your competitive position, increase your working capital, and maximize your business profitability. Refinancing your existing properties tailored for your business solutions is one way of strengthening your capital. If you are you in the market of buying commercial real estate, contact us for a free consultation regarding your financing options.
What Types of Properties are Eligible for a Conventional Real Estate Loan?
- Flagged and Non-Flagged Hotels
- Flagged Motels
- Mobile Home Parks
- Stand alone retail building
- Strip malls (shopping centers)
What Types of Properties Fit into SBA 504 or SBA 7a Commercial Real Estate Loan Program?
- Bowling Alleys
- Golf Courses
- Medical Offices
- Medical Plazas
- Medical Practices
- Office Condos
- Retail buildings
- Retail Stores
What is Hard Money Financing?
Hard Money is a short term alternative loan that is securitized by your commercial real estate; the funds are made by private investors, not a retail bank. If you have a unique property or a distressed financial situation, hard money financing is your solution – cross-collateralization maybe required. Hard money financing is more expensive than conventional financing, because of the property type, the credit, the distressed financial situation, besides your short term loan request for your investment project.
Our large scales of Hard Money products offer you countless resources to complete your purchase, refinance or short-term rehab project. For the past 26 years, we provided endless lending opportunities to our satisfied clients
Hard Money Bridge Parameters
- Loan Terms: 18-24 Months
- Maximum Loan to Value: 45-65%
- Documentation: Full Documentation or Alternative Documentation
Collateral Types: Apartment Buildings, Assistant Living Facilities, Auto-Repair, Churches, Distressed Commercial Real Estate Debt, Golf Courses, Flagged and Non-Flagged Hotels, Flagged and Non-Flagged Motels, Light Industrial, Marinas, Mixed Use and Mixed Use Rehab, Office Buildings and Office Condos, Warehouses
Purchase or Refinance
- Minimum Loan Amount: $250,000
- Credit Score Requirement: 550 or better
Alternative Commercial Lending and Hard Money Specialists
For more information on how we can best serve your alternative commercial real estate loan and commercial hard money request, please fill out the online contact form about your concerns or give us a call at 855.477.9007 Read what people have to say about First Pro Capital on our Testimonials page.
Allow our team of professionals to assist you!