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Real Estate Project Financing [ Get a Free Pre-Approval or Apply Now! ] RCxLOAN.com can assist in arranging financing for real estate projects worldwide. From condo conversions to Caribbean resort developments, we have the contacts, know-how and the ability to get your project funded. Loan Choices: CONDO CONVERSIONS, RESORTS AND CONDOTELS, APARTMENT BUILDINGS, LAND DEVELOPMENT, OFFICE COMPLEXES - Acquisitions
CONDO CONVERSIONS Condominiums are generally converted from either (a) existing rental projects, or (b) vacant office or industrial loft properties. Clearly, the conversion of existing rental projects is a simpler concept for lenders to grasp, with a measurable downside to evaluate. If the condominium conversion does not work, then the property can continue to operate as a rental and can be underwritten as such. Conversely, if an office or industrial loft conversion doesn’t work, you are left with an empty office or industrial property – not something most lenders covet as collateral. For this reason, financing this type of conversion usually requires some level of opportunistic capital willing to understand and assume the inherent risks of commercial conversion to residential, and be rewarded for such risk through a higher than normal interest rate, fee structure or profit participation. To overcome the dilemma of condo conversion, our approach to underwriting resembles the banks’ downside rental-value, but with a twist. We are willing to recognize that the same improvements contemplated to bring the existing rental up to condominium grade quality, may result in a value-added play even if not converted. Many condominium conversions occur with somewhat older projects in good neighborhoods (e.g. a “B” property in an “A” location, or a “C” in a “B”). As such, these properties may have the potential for rent increases if renovated to a higher standard, resulting in an increase in rental value. Our lending partners will lend against the project’s as-improved value, once substantiated by its underwriting. We will assess whether the same dollars committed for interior and exterior improvements for the condominium project, will have a similar value-added effect if the property stays as a rental. Of course, this is not always the result; property improvements may not result in an increased rental value. In such instances, either (a) a significant pre-sale requirement will be required, and/or (b) the lender may require additional equity or a participation in the profits for sharing the risk. Typical terms include:
RESORTS AND CONDOTELS In a time when the financing for hotels and resorts is extremely difficult, RCxLOAN.com in coordination with its lending partners can provide not only permanent financing for your hospitality operation, but also the development loan that you may need to build the structures. In this way, we can satisfy all of the financing requirements you have to get your operation up and running--from new construction to refinancing. Through our in-depth knowledge and contacts, our clients have hotel and resort real estate loans available to them at extended fixed or adjustable loan rates with very exceptional terms, and with an unlimited maximum loan amounts. We understand the Condotel markets and can work with your team to achieve the correct balance between pre-sales and vertical financing loan thresholds. APARTMENT BUILDINGS RCxLOAN.com in coordination with its lending partners provides multifamily loan financings for properties ranging from $500,000 to $10 million. We finance multifamily loans throughout the US, and specialize in both purchase and refinance transactions with LTV's ranging from 70% up to 100% with secondary secured and unsecured financing.
LAND DEVELOPMENT Nearly all building and development begins with the purchase of raw land. In the current environment, many lending sources will not make loans on raw, undeveloped land. RCxLOAN.com in coordination with its lending associates have the resources who will enable you to buy raw land which you want to develop for residential sub-division or commercial or industrial use. Conventional lending sources such as banks, savings and loans, pension funds etc. often are not interested in raw land and development financing. Our alternative lending sources have much expertise in the evaluation and financing of raw, undeveloped land. We will work to get you the highest possible Loan-to-Value ratio on your land collateral. We welcome inquiries from land owners, residential and commercial developers. RCxLOAN.com in coordination with its lending partners has funding sources who make loans using raw land as collateral. Raw land loans from $200,000 to $100,000,000 with terms ranging from 1 to 5 years and rates in the PRIME + 2% to 6% range. OFFICE COMPLEXES RCxLOAN.com in coordination with its lending partners provides and/or brokers commercial property mortgages for office buildings, retail centers, industrial facilities, warehouses, and non-conventional commercial projects. Our wide network of lenders and its direct funding capability for commercial mortgages allow us to close transactions that other firms pass over. Advantages of our commercial property mortgage finance program include:
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