As the Agencies slow loan production for many Multifamily properties in order to keep funds available for Q3 and Q4, alternative non-recourse perm lenders are filling the gap.
In addition to retail, office and industrial product types, DePaul Real Estate Advisors provides attractive interim and permanent financing for multifamily properties. Contact Paul DeCrescentis or Jarod Pate at DePaul to size up your apartment loan.
Sample loan terms
Loan Type: Acquisition loans, maturity refinance or cash-out refinance
Property Type: Retail, Multifamily, Office and Industrial
Leverage: up to 80% LTV (mezz available)
Loan Amount: $2 million minimum
Non-Recourse: No personal guarantee except for standard "bad acts" carve-outs
Fixed Rates and Floating Rates: Call for quotes
Costs: 1-2% depending on the complexity of the transaction
Closing: 30-45 days