Specializing in many types of financing programs, including working with a Non-recourse loan (Non recourse loan), Apartment mortgage loan, Joint venture real estate, Commercial equity loan, Commercial rehab loan, Structured financing, and Shopping center loan. Of course we're known for our experience in dealing with: land development loans, hard money loans, apartment loans, industrial building loans, and real estate equity.

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income property > interim financing

Interim Financing

These financing programs are generally two to three years in duration to fit the needs of borrowers requiring financing for projects in transition or to facilitate capital requirements. Financing may be arranged on a property to provide cash for purchasing other real estate or for the repositioning and/or renovation of an existing property. Loan structure, pricing, loan-to-cost ratios and recourse requirements are flexible and tailored to meet the needs and risk assessments of each transaction. Most interim financing includes the following:

  • Loan-to-cost ratios of 75% to 90% with up to 100% on pre-leased projects
  • 75% loan to value on most property types; 65% on hotels and special purpose property
  • Structured financing to facilitate all types or renovation and/or construction with either reserves or holdbacks built-in until stabilization
  • Maximum loan amounts are generally 75% of stabilized value that will be achieved after specified occupancy and NOI requirements provide debt coverage ratios
  • Faster closes available for any time sensitive product
  • Recourse dependent upon perceived risk of project and borrowers financial position
  • 12-24 month terms with interest only is a typical interim financing period. Options for extensions are available
  • Rates are variable and either Libor or Prime based plus margins
  • Permanent loan may be arranged to take-out the interim financing upon reaching specified targets, often at no additional cost

Grace Capital has extensive resources to structure your financing requirements. The best method is to contact an Account Executive for details.

Please contact an Account Executive

Rate and terms subject to change without notice

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Other programs include: non-recourse loan | apartment mortgage loan | joint venture real estate
commercial equity loan | commercial rehab loan | structured financing | shopping center loan

Need to discuss a transaction? Please contact an Account Executive.

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