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.



Program Benefits

  • 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



Eligible Projects

  • 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.