Corp Structure Composite Analysis aa)  Conventional Nonrecourse Loans bb)  Construction Loan Programs cc)  Conventional Loan Program   dd) Institutional CMBS   ee) Architects Registration   ff) Hotel Loan Covenants Terminology   gg) Commercial Real Estate Lending   hh) Institutional Loan Glossary ii) Confidential Privacy jj) Investment Pool kk) Private Securities Bond ll) Contact Lender mm) Hotel Directors Conference

Institutional Conventional Loans; Development/Construction, Hotel-Multifamily-Assisted Living-Office & College; Nonrecourse, Fixed Rate, Treasury Index "360 day Weighted Average Index" Rate. Private Securitization Bond, REIT Trusts, Sovereign Wealth Funds

Institutional Fixed Asset Loans              Development, Conversion & Seasoned 

Hotels, Assisted Living, Apts & Office   Conventional & Securitization Loans 

Fixed Asset Mortgage Securitization      Mezzanine and Bridge Loan Option 

NonRecourse Conventional Loans          Fixed Rate Index T-Bill  

Standby Commitment Document             Letter of Credit Issuance

Working Capital Lines of Credit             Hotel PIP Subordinate Finance Option

Index 10 yr Treasury & LIBOR              18 Months Construction Interest Only      


 

Origination Atlanta Office; Underwriting Offices Buckhead Legal Division Beverly Hills CA DC Conference Board

Commission Board

Underwriting & Analysis

Buckhead GA & Beverly Hills CA  

Legal Office Center

Beverly Hills LA California

 

Construction/Development Loans, Conventional Conduit Private Security Loan, REIT Mutual Fund & Investor Portfolio Pool & Sovereign Investor Intermediary Designated Fund

25-30 year Amortization Loans leveraged to 80% LTV. Fixed Rate, Hotels, Redevelopment-Conversion-Debt Restructure & Seasoned Acquisition, Assisted Living Facility, Multifamily Apartments, Medical Building, Anchor Retail, Construction Franchise Hotel,  Acquisition, Converson or Debt Restructure , Gas Stations & C Stores  Commercial  Inventory Factoring Credit, Manufactoring. 

 

 

Development Mini-Perm Loans, Conventional, Conduit Securitization Loans, PIP Mezzanine Option, Bridge Loans Finance Option Loans and Standby Commitment Loans

Conventional, Conduit Securitization Nonrecourse and Development-Construction Mini-Perm Loans Nonrecourse; Loan Leverage 75-90% will be evaluated on risk analysis, Star & Smiths Travel and Cushman Wakefield demographic statistics.  Loans $6-50 million must be a Financial Credit Market Index with Margin Quote. Loans DSCR of 1.10 to 1.21% and 1.40% Conduit Securitized Loans.  Fixed Asset Collateral loans, 25/30 year amortization, Hotel PIP Renovation Mezzanine and Subordinate Loans. FNMA Government Guaranteed Program 

Franchise Hotels,  Apartments, Assist Living, Retail (anchor), Government & University Single Tenant, Air-Rights & Leasehold (property loans), Credit Lines, Working Capital Credit, Mechanic Lien Filing (credit satisfaction), FF&E, IT Franchise Transfer Conversion, Royalty and Hotel Franchise intrinsic valuation.

Highest loan leverage which includes Bridge, Mezzanine, Apartment & Hotel loans.   

 

Eligible Commercial Property Category

Franchise Primary Hotel

New Construction Development Mini-Perm

Acquisition, Seasoned, PIP Renovation

Boutique Franchise Hotels 

Apartments Multifamily

Hotel/Condo/Casino Resort Property

Hotel Renovation & PIP Flag Contingency

Multifamily (vertical & garden type)

Gas & Convenience Stores

Retail (anchor)

Assisted Living Facility

Government Single Occupant Building with 40 year lease

Conversion Hotel to a Select Franchise Hotel   

 

Conventional, Conduit Loans, Bridge Loan Option, Stand-by Commitment, Mezzanine Option, Working Capital Line, Franchise Hotel Portfolio; Seasoned Hotels, Hotel Flag Conversion, Acquisition & New Construction

18 Months New Construction/Development interest only monthly payments, with a Loan Conversion to a Permanent Loan beginning the full loan amortization period once the Grand Opening and Certficate of Occupancy is issued by the local Government Agency in charge of commercial building development inspection and license certification upon completion without building code violations.

 

Current Fixed Rate: 10 year Treasury Index and 2.50 Margin US Development, Conversion and Seasoned Commercial Loan Rate $5 million floor $50 million cap


Construction/Development Conventional Loan: 80% LTV $8-$25 million 25 yr amortizatio, 10 yr fixed rate, 18 months monthly Interest only, nonrecourse, 15% soft FF&E cost, after soft and grand opening loan coverts to a full amortization P&I monthly payment.

Conduit Securitized Loan:  75-80% LTV $10-$100 million Construction Permanent, 25-30 yrs with yield maintenence prepayment,  Hotels, Apartments, Retail Malls, Hospitals, Office, Campus Office Parks, Large Casino Resort Hotels, General Motors, Airlines, Super Yachts.

Bridge Loan Option:  A Temporary financial link between construction/permanent and the preparation for the pending loan structure or an immediate closing settlement to acquire building project while awaiting the increase in occupancy rate. Government Zoning contigencies and the process leading up to the acquisition of a Building Permit.  Machanics Lien cancelation removal to a clean title.

Mezzanine Option:   Coverage for PIP Renovation, Construction Cost Overages, Satisfaction of Construction Mechanics Liens for Clear Title, Buyout of Partner, Substitute for Bridge Finance Option Longer Term Loan.  Mezzanine Loan runs parallel with Senior Debt Lienholder at a Market Rate Index of LIBOR or Treasury with a Market Rate Competitive Margin.  

Working Capital Lines: Temporary Capital Lines of Credit with collateral calculated by a Market Valuation Appraisal. The rate is calculated by a Market Index Rate and Margin.

Revolving Lines of Credit: Typically offshore Hotel-Condominium-Resort loans which are desginated to the construction/development funding with the permanent loans on the fixed asset hotel and partial release waiver on the condo units as the units are sold.  

Letter of Credit Board Authorized: If Borrower requires a Letter-of-Credit to satisfy a Goverement Economic & Development Board Grant Lender will evaluate the request and if approved will issue a legal document version of an Institutional Lender Letter-of-Credit endorsed to the designated Grant Capital Distributor.  These temporary credit letters will have a maximum date of expiration of 24 months.  The rate index will be LIBOR with Margin.

Conventional and Conduit Bond Securitization, Institutional FF&E, Capital Renovation, Construction Developmenet, Franchise Conversion & Transfer, PIP Flag Transfer Contingency, Resort Casino Equipment; Gas & Convenience Stores, Hotels (franchise), Commercial Office, Multifamily (Apartments), Manufactoring & Industrial, Foreign Investor Loans.  All new construction loans must be fully documented with land parcel survey, zoning confirmation, PSA Contract confirmation, Architect AIA, General Contractor, Plans & Blue Prints, cost analysis spread sheet analysis, hotel franchise agreement letter, Geo-Tech, environmental, building location survey, easements & ingress and egress, feasibility study and MAI Appraisal Report.  This should be completed within the first six (6) weeks of loan processing with cooperation by the Borrower and Lender.   

Project desginated Architect AIA  will execute a formal construction inspection on all development/new construction loans while completing the AIA form to reconcile each General Contractor to complete a project construction draw scheduled event and forward all AIA documentation direct to Lender. 

 


Loan Index Rate 10 yr Treasury 360 day Weighted Average Index; or LIBOR Index and Credit Margin; Securitization Rate Index 30 yr Treasury with a 2.25 to 2.50 Margin


Subordinate and Mezzanine Finance; Hotel Franchise PIP Mandatory Contingency, Hotel Conversion Flag Transfer, Mechanics amd Tax Liens, Project Renovation, Capital Improvement; Fixed Asset Bond Securities; Portfolio Securitization Conduit Loans  

Water and Mineral Rights, Oil and Ground allocation, Retainage Calculation for the Construction Draw Calculation,  Zoning and Planning Construction Permits for the completion of any Franchise Hotel Erection Development and Construction . Project  Hotel Eligibility Status:  Nonfeasance, Tax Liens, Mechanics Lien, Easement Contingency, Evironmental Violation, Lienholder Default, Franchise Royalty Default, Code Violation, Franchise Flag Termination (60 day notification) Leasehold Ground Lease Expiration or Default Judicial Filing.  Any of these easements or liens must be waived or cleaned up before Lender will progress the Loan process.

Bridge Loans are considered with the contingency that Lender is the designated lienholder and senior debt lender as the Bridge Loan is a syndicated financial linkage to the permanent phase finance registered loan senior debt under the registered Fixed Asset Loans and Senior Lienholder.  Any Subordinate Debt must be approved by the Lender with a flag conversion would be eligible for a secondary lien recorded.