General Information and Structure
Available for land and building acquisition, predevelopment costs and critical repairs. Loan-to-Value: 80% for unimproved land. Loan-to-value based on "as is" appraised value. Repayment: Interest only, payable monthly. Principal due at earlier of acquisition financing or maturity date. In some cases the loan will be structured with a pricipal and interest paymnet, payable monthly. No prepayment penalty. Recourse/Guarantie: Loans will have full recourse to the borrower and guaranty from project sponsor, if applicable.