Great Eastern Investments

Office Property Program

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Property Type: Class "A", "B", and "C" suburban and central business district multi-tenant properties that have good location, occupancy, and maintenance.
Loan Security: First fee mortgages encumbering completed projects along with customary assignments and pledges. Leaseholds considered on a case-by-case basis.
Loan Amount: $500,000 to $35,000,000 per property.
Term: Ten (10) Years.
Amortization: Twenty-five (25) years, or five (5) years less than the remaining life as determined by the Appraisal and Property Condition Report.
Maximum LTV: 80%
Minimum DSCR: 1.25:1
Recourse: Non-recourse, except for standard lender carve-outs, which require 100%.
Assumption: Permitted with the payment of an Assumption Fee, typically 1% plus legal expenses, and with Lender's credit approval.
Replacement Reserves: Typically, minimum of $0.10 to $0.25 per square foot annually, or as scheduled in the Property Condition Assessment Report. Monthly escrow is required.
Subordinate Financing: Typically, not permitted. Lender will consider prior approval with fully subordinated, non-foreclosable cash flow only.
Prepayment Penalty: Typically, one-half of the loan term requires a lockout followed by yield maintenance, or defeasance, to term. No penalty if prepaid during the final 3 - 6 months of term.
Interest Rates: See the most current Pricing Matrix. Rate Buy-Downs are available.
ALL terms are subject to change.

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Great Eastern Investments, L.L.C.
Tel: 800-366-7769 Fax: 830-796-4774
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