Great Eastern Investments



Construction Loan Program

For a current pricing matrix, complete our On-Line Form
Property Type: Apartments, Assisted Living Care Facilities, Hotels, and Truck Stops. Retail and Office Properties with substantial pre-leasing. Other property types are available on a case-by-case basis.
Loan Security: First fee mortgages encumbering completed projects along with customary assignments and pledges.
Loan Amount: $2,000,000 to $35,000,000 per property. Larger loans are case by case.
Construction Term: Twelve (12) to Twenty-four (24) months.
Mini-Perm Term Twenty-four (24) months to Thirty-six (36) months..
Construction Amortization: None. Interest Only during the term.
Mini-Perm Amortization: Twenty (20) Years.
Maximum LTV: 75%.
Maximum LTC: 80%
Minimum DSCR: 1.25:1 minimum.
Recourse: Full Recourse including standard lender carve-outs, which are required at 100%. Stabilization achievement during the mini-perm may allow a release of Recourse.
Market Feasibility: A Market Feasibility is required that will support the construction of the property and its viability in the market.
Subordinate Financing: None permitted. FF&E cannot be financed or leased.
Other Conditions: A non-refundable application fee is required. Origination fees range from 3 points to 3 ½ points. Each transaction may have specific lender requirements.
Interest Rates: Priced at WSJ Prime plus a premium. Pricing is based upon the transaction and can range from ½% to 2 ½% over the Index.
ALL terms are subject to change.



Loan Programs Contact Us
Company Profile Contact Personnel
Great Eastern Investments, L.L.C.
Tel: 888-463-4422 Fax: 830-796-4774
loan.inquiries@Great-Eastern.com
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