Construction & Permanent
Multifamily or Assisted Living
Financing in One Loan Product
Ideal for New Construction and Substantial Rehabs
We offer a 40-year, fixed-rate, non-recourse, multifamily
or assisted living construction financing with lower
developer equity requirements.
- Long Term Fixed Rate – 40-year fixed interest rate with
interest-only during the construction period.
- Non-Recourse – means no personal guarantees*
- Low Equity Requirements –
– M U L T I F A M I L Y Equity requirements begin at 15%
of eligible development costs, and decrease to 13% for
affordable properties and 10% for projects with 90%
or greater rental assistance.
– A S S I S T E D L I V I N G Equity requirements begin at
25% for assisted living and memory care, decreasing to
20% for skilled nursing facilities. Non-profits are eligible
for 20% for assisted living and memory care, decreasing
to 15% for skilled nursing facilities.
- Save Time and $$ – One loan means = one set of underwriting criteria.
- Save $$ by only paying closing costs for one loan, not two.
- Loan Proceeds Protection – One loan means there is no risk of
having loan proceeds reduced if your stabilized rents are less
than proforma figures.
- No Interest Rate Increases Ever – One loan means one fixed
interest rate for the full 40-year term. No balloons or interest rate hikes.
- Assumable Loan – This is a fully assumable loan (subject to approval.)
- Maximum Loan Amount : None
- Market Rate, Luxury, Affordable and Rental Assistance Properties
- New Construction or Substantial Rehabilitation
*With standard exceptions for fraud and misrepresentation
Note: Each loan package is case by case. Not all applicants will qualify. There is no guarantee of approval. Terms and conditions apply. Please call for details.