Construction-to-Perm Financing with most developers receiving 105-115% of cost financing
SINGLE TENANT FINANCING . . .
SINGLE TENANT Construction-to-Perm Financing
MINIMUM FINANCING AMOUNT: MAXIMUM FINANCING AMOUNT: TENANT RATING or FINANCIALS: 
LEASE TERM: LOAN-TO-COST: 

DEBT COVERAGE (min.): LOAN-to-VALUE: AMORTIZATION: LOAN TERM: FIXED RATES: POINTS: RECOURSE: $5 million $300 million+ BBB- stable or better rated If unrated, tenant should have a minimum of $150 million in annual Net Income on a consistent basis Works best on 10, 15 and 20+ year leases Most developers receive 105-115% of cost financing There is no loan-to-cost restriction 1.00 (triple net leases) 1.05 (double net or gross leases) Up to 100% of leased fee value (LTV has never come into play on past financings) Generally 7 years over lease term with a portion of the loan fully amortized with lease term and a second portion interest-only Equal to the lease term Generally 150-200 basis points over the Interpolated US Treasury Yield (depends on tenant credit, financials, industry and lease) 1 Non-Recourse with standard carve-outs after completion
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