Ready Capital Structured Finance Program Guidlines
Transcription
Ready Capital Structured Finance Program Guidlines
Ready Capital Structured Finance NATIONAL BRIDGE LENDING PARAMETERS DESCRIPTION Nationwide bridge lending platform targeting transitional, value-add and event driven commercial and multifamily properties. LOAN AMOUNT Up to $25 million (larger on a case-by-case basis). LOAN TERM Generally, 1-3 years plus extensions; up to 5 years. ASSET TYPES ADVANCES INTEREST RATE DSCR REQUIREMENT AMORTIZATION FEES FUTURE ADVANCES EARN OUT RECOURSE PREPAYMENT Core: multifamily, office, retail, industrial, mixed-use Non-core: self-storage, student housing, hospitality, residential and commercial condo, specialty use and land Up to 80%. Higher leverage subordinate debt considered on case-by-case basis. Generally, 5.00% - 6.00%+ over LIBOR. Fixed rate available. None. Partial or non-cash flowing assets. Interest only; amortization structured on a case-by-case basis. 1.00% origination fee / 0.50%+ exit fee. Extension fees of 0.25%+. Tenant improvement, leasing commissions and capital expenditures. Available on a case-by-case basis. Non-recourse to Principals except for bad-boy carve-outs; further guarantees may be required on a case-by-case basis. Freely pre-payable. Minimum interest may apply. CONTACT DAVID A. COHEN Managing Director 212-301-1883 [email protected] ©2015, Ready Capital Structured Finance JORDAN GOFORTH Director 212-301-1884 [email protected] READY CAPITAL STRUCTURED FINANCE C/O Waterfall Asset Management 1140 Avenue of the Americas New York, NY 10036