Advance rate: Up to 100% of the total project costs, subject to 65% of the After Repaired Value. Reserve account applies.

Transcription

1 PRIVATE MONEY FINANCING LOAN PROGRAMS FLORIDA REHAB LOANS NATIONWIDE (NATIONWIDE) EXCEPT: AZ,CA,NV,OR,MT,ID,WY,NE,ND,MN,SD,KS,AR,WV,MI,VT Prperty type: Cmmercial lans n 1 4 Family investr prperties and small apartment buildings. Larger Cmmercial lans financed in ur Cmmercial Hard Mney Divisin. Lien psitin: First mrtgage nly. Standard term: 6 mnths with mnthly extensins up t 12 mnths. Advance rate: Up t 100% f the ttal prject csts, subject t 65% f the After Repaired Value. Reserve accunt applies. Renvatin funds: Renvatin funds are usually advanced in ne t three draws, and wired directly t yur accunt. Rehab prtin f the lan typically nt t exceed 100% f acquisitin cst unless therwise apprved. Clsing csts: Up t $1200 f clsing csts (i.e. title insurance, recrding fees, etc.) can be financed as part f the lan prceeds. Guarantee: Persnal guarantee required. Qualifying dcuments: Investr Assessment Frm Lan dcumentatin: (Fr Each Lan) Purchase Agreement Summary f Rehab Wrk t be Cmpleted After Repair Value Appraisal (Obtained by lender) Title Plicy (Obtained by lender) Deal Submissin Frm Pictures f Rehab Prperty Hme Inspectin 3 mnths f Bank Statements 2 years f Tax Returns 3 Mst Recent Paystubs signed 4506 T Quick funding: Once a brrwer has been apprved, funding f individual transactins is quick. N need t reapply fr subsequent transactins. Cde: BV638RHB

2 PROGRAM 2 TYPES OF PROPERTIES Spec Cnstructin, Owner Occupied Builder, r Investr Rehab Flipper Residential/Multi Family/Cmmercial Prperty unfinished r under cnstructin with apprved plans TYPES OF BORROWERS/PURPOSE Owner Occupied and Nn Owner Occupied Exit Strategy at yur discretin: Refinance, Occupy r Sell the prperty upn cmpletin Purchase Mney + Cnstructin Refinance + Cnstructin Cash ut t Cnstructin Grund Up Cnstructin LOAN TERMS Cnstructin and Rehab Lan LTV up t 65% f future value Cnstructin lans up t $4.5 millin NET fr grund up r cnstructin cmpletin Lan decisin based n future appraised value nt purchased value Lan decisin based n the quality f the prject Reasnable Cnstructin Perids Flexible Disbursal Schedule N Prepayment Penalties Nn FICO driven INTEREST RESERVE OK Cde: FM3269RHC

3 CONSTRUCTION FINANCING Types f Prperties Spec Cnstructin, Owner Occupied Builder, r Investr Rehab Flipper Residential/Multi Family/Cmmercial Prperty unfinished r under cnstructin with apprved plans. Types f Brrwers / Purpse Owner Occupied and Nn Owner Occupied Exit Strategy at yur discretin: Refinance, Occupy r Sell the prperty upn cmpletin Purchase Mney + Cnstructin Refinance + Cnstructin Cash ut t Cnstructin Grund Up Cnstructin. Lan Terms Cnstructin and Rehab Lan LTV up t 65% f future value Cnstructin lans up t $4.5 millin NET fr grund up r cnstructin cmpletin Lan decisin based n future appraised value nt purchased value Lan decisin based n the quality f the prject Reasnable Cnstructin Perids Flexible Disbursal Schedule N Prepayment Penalties Nn FICO driven INTEREST RESERVE OK Cde: FMCONk87 PROGRAM 2 Private Mney Fast (Natinwide Jumb Cnstructin Lans) Prtfli Lenders Creative appraches t "Hard Mney" equity lending. N seasning requirements r cash ut limitatins Simple Applicatin Prcess Fax us yur executive lan summary r 1003 Fast Answers Fast turnarund n expressin f interest. Setting the Standard fr "Hard Mney" Equity Lans Lan Amunts: $300,000 t $10,000,000 Lan t Value: Flexible Interest Rates: 9.99% t 11.99% Fees: 2 t 4 pints Lan Term: Up t 5 years Lien Psitin: First Prepayment Penalty: Nne Cde: NJC 1209

4 APARTMENTS & MULTIFAMILY FINANCING Hard Mney Lan financing t $150k t 15 millin +, High LTVs. True equity based lending. N incme check available. ALL PROPERTY TYPES: COMMERCIAL, INVESTOR RESIDENTIAL, SUPER JUMBO $150,000 t $15,000,000 Natinwide All 50 States Bad credit OK fr all ur Bridge Mrtgage Lans All situatins cnsidered including bankruptcy, freclsure 24 Hur Apprvals / Emergency Mrtgage Clsings Our Hard Mney Mrtgage Lan Prgram is designed fr quick clsings Hard Mney Bridge Lan rates are frm 11% 15% LTVs t 65% Our Hard Mney Mrtgage Lans are based n actual prperty/prject value Asset Based Lan Apprvals fr all ur Hard Mney Mrtgage Lans Updated Appraisal Ok IMMEDIATE SITE VISITS Cde: NSNWC1002 PROGRAM 2 Hard mney and private investr financing slutins fr all cmmercial prperty types lcated in Flrida. Whether yu need t refinance an existing cmmercial prperty r yu need purchase mney - we can structure the best hard mney lan t meet yur specific financial needs. Multifamily Hard Mney Lan Prgram Highlights: Lan Amunt frm $750K t $3MM LTV s up t 65% (Cash-Out 60%) 3-5 Year Lan Terms with Int. Only Pmts. N Minimum Fic N Pre-Payment Penalty Interest Rates Starting at 9% BK Restructure r Nte Purchase OK Cde: LC1STFLHAP

5 SENIOR / ASSISTED LIVING FINANCING This financing is NOT at HUD prgram. We have ne f the nly cnstructin lans fr Assisted Living Facilities that is nt dependent n HUD apprval. We have access t ALF funding frm $2,000,000 up t $50,000,000. The ideal range f funding where we see the mst success is frm $10,000,000 t $38,000,000. This exciting new prgram was designed t be an alternative t lengthy HUD prgrams. Assisted Living Facility Cnstructin Financing means that develpers can avid cstly delays assciated with HUD and USDA B&I prgrams! Avid the huge delays assciated with HUD apprvals N dealing with SBA 504 and CDC debentures and cmplicated funding strategies Deal with underwriters accustmed t the cnstructin lan prcess Draw requests, wrk rder changes and ther issues handled by prfessinals well versed in the needs f develpers and cnstructin lending. Ppular markets fr Assisted Living Facility lending includes; Atlanta, GA, Phenix, AZ, Charltte, NC, Jacksnville, FL, Austin, TX and Greenville, SC, Dallas TX. Other markets include Raleigh, NC, Ashville, NC, San Dieg, CA, and Chicag, IL. Lans fr Assisted Living Facility Cnstructin can be btained in many markets but these seem t be very ppular. Cnstructin financing fr Assisted Living Facilities usually takes n this cmbinatin with the cmmercial mrtgage funding the land develpment and building cnstructin funding and the business lan prviding the capital needed t get the equipment and business up and running. Cmmercial Lending s special Cnstructin Lan fr Assisted Living Facilities ffer: Lan Amunts: $10MM minimum, N max Lan t Cst 75% (LTC) Term: 5 7 Year Cnstructin t mini perm Amrtizatin: First 2 Years (cnstructin phase) is Interest nly, after that amrtizatin varies by strength f prject but mst prjects will receive 25 year amrtizatin perid. Rate: Variable r Fixed ptins Variable is WSJ Prime plus rughly 250bp r Fixed rate range is 6 7% Prepayment Penalty: Nne Recurse: Sme Persnal Guarantee typically required hwever this is negtiable depending n strength f deal. Spnsr can als Buy Dwn the recurse with higher Equity Participatin (lwer LTC) Lans that pay dividends fr yur business. We have all types f lans fr assisted living facilities and financing fr medical ffice buildings. Develpment lans, cnstructin lans, cmmercial business lans and Assisted Living Facility Purchase lans. Business lans fr medical ffice buildings and assisted living when cmbined with a small business lan r with equipment financing is ur specialty and we get them dne even when banks have said NO! Cde: DdAht220

6 PROGRAM 2 SBA, CONVENTIONAL, FHA AND FANNIE MAE financing all ver the United States fr many types f Senir Living Prperties t meet the needs f ur aging ppulatin. *Rates starting at 3.25% **FHA PROGRAMS AT BOTTOM OF PAGE Lans frm $500,000 t (N Lan Limit) Purchase Up t 83% LTV Refinance Up t 80% LTV New Cnstructin Up t 80% LTCst (HUD) Up t 75% LTC Cnventinal Rehabilitatin Up t 83.3% LTCst Skilled Full Care Nursing Facilities Assisted Living Independent Living Senir Husing Adult Day Care Hspitals Other specialty care facilities Lcatins: Natinwide All 50 states Amrtizatin: 20,25,30,35, and 40 years FHA cnstructin lans cnvert int a 40 year, fully amrtizing fixed rate lan Lan t Value: % LTV Debt Service: DSCR n healthcare prperties is as lw as 1.2% Nn Recurse: Recurse lans usually nt required except fr SBA Lans and cnstructin (NO PERSONAL LIABILITY AND NO PERSONAL TAX RETURNS) Assumable: Yes, subject t lender apprval LOAN PROGRAMS (1) Healthcare Acquisitin r Refinance HUD (f) *$4 MM minimum Lan n maximum* Healthcare New Cnstructin r Rehab HUD 232 FHA Sr Assisted Living Sizing Spread Sheet (Excel) Fannie Mae Senir Living Husing *$2 MM minimum lan n maximum* (2) Fannie Mae Senirs Husing Financing Infrmatin (3) SBA Assisted Living *$500,000 minimum lan* SBA 7a Lans ($5 MM maximum lan amunt) SBA 504 (Maximum Lan $12 MM) MUST BE OWNER OPERATED Up t 90% LTV (4) Cnventinal $1 MM minimum Cde: NCPSLALNW

7 HOTELS FINANCING Bridge Financing Shrt t medium term capital fr htel acquisitins and recapitalizatins f existing assets. Ideal fr transitinal, nn stabilized assets with a value add cmpnent r situatins where a quick clsing with surety f executin is needed. NOTE FINANCING First mrtgage capital fr htel wners r investrs t maximize returns thrugh the acquisitin f distressed debt secured by hspitality assets. Help a spnsr lking t acquire a distressed nte t get t the asset in the mst expedient manner, r t wrk ut the lan t maximize the investment return. MEZZANINE DEBT FINANCING Mezzanine lans are typically secured by secnd liens n real estate r by partnership and limited liability cmpany interests. They are ideal fr pprtunistic purchases t minimize the direct cmmn equity required, recapitalizatins, financing PIPs and refinances where the principal amunt currently wed is higher than what senir debt lan cmmitments can be btained. DISCOUNTED PAYOFF (DPO) FINANCING Shrt t medium term first mrtgage capital t spnsrs repurchasing their existing debt at a discunt t right size the amunt f debt n the asset. FIRST MORTGAGE BRIDGE LOAN PROGRAM REQUIREMENTS Eligible Cllateral: Typically branded, interir crridr, limited, select, and full service htels with between 75 and 300 keys, and nte purchases secured by same. Eligible Lcatins: Cntinental U.S. Purpse: Purchase, refinance, discunted payff, recapitalizatin, cnstructin cmpletin, nte purchase, etc. Transactin Sizes: $1 millin t $20 millin, higher n a case by case basis. LTV: Up t 70% f "as is" appraised value r actual purchase price. Security: First mrtgage lien n the subject prperty(s), assignment f all permits and apprvals, assignment f leases, UCC filing, r assignment and security interest in same n nte purchases. Ownership: Single asset, special purpse entity. Cmmitment Depsit: 1% f lan amunt (minimum $15,000) payable upn acceptance f Lan Cmmitment fr full underwriting, due diligence, site inspectin, 3rd party reprts, legal, title wrk, dcument preparatin, cmfrt letter, and clsing csts. Prepayment: 6 mnth interest guarantee. Interest Rate: Rates starting at 9.9% interest nly. DSC / Debt Service: <1 based n interest nly acceptable with quality pr frma & turnarund plan Recurse: Full persnal guaranty f spnsrs. Nn recurse available with cmpensating factrs. Lan Term: 1 5 yrs. Reserves: Real estate taxes, hazard insurance, replacement reserves, and mrtgage interest may be required. Underwriting Cnsideratins: Heavy emphasis n new equity capital t be funded in cnnectin with lan r additinal cllateral, cncentratin n value creatin, market analysis, spnsrship, and exit strategy. Third Party Reprts: MAI Appraisal, Phase I envirnmental, feasibility and thers if required r rdered by Lender at expense f Brrwer. Clsing Time: 2 t 3 weeks frm receipt f full package, applicatin acceptance and depsit remittance. Cde: HCDL193a

8 PROGRAM 2 EQUITY Partners with wners by injecting capital int htel real estate and taking a passive preferred equity wnership stake. Preferred Equity Prgram Requirements Eligible Cllateral: Typically branded, interir crridr, limited, select, and full service htels between 75 and 300 keys, and nte purchases secured by same. Eligible Lcatins: Cntinental U.S. Purpse: Purchase, refinance, discunted payff, recapitalizatin, cnstructin cmpletin, nte purchase, etc. Transactin Sizes: Typically $1,000,000 t $10 millin, higher n a case by case basis Ownership: Single asset, special purpse entity. Preferred Equity Return: Typically a current pay rate + a percentage f wnership and assciated cash flw that varies accrding t prject plan & available cash flw. Minimum Levered IRR target: Varies per transactin. Minimum NOI %: Depends n market/prperty type/brand/etc. Cmmitment Depsit: 1% f preferred equity amunt (minimum $20,000) payable upn acceptance f Preferred Equity Term Sheet fr site inspectin, 3rd party csts, legal and clsing csts. Any remainder credited at clsing, r refunded in the event the deal is nt apprved. Buy/Sell Agreement: T be defined in the perating agreement Preferred Term: 3 5 yrs. Reserves: Real estate taxes, hazard insurance, replacement reserves, and mrtgage interest may be required. Underwriting Cnsideratins: Heavy emphasis n value creatin, market analysis, spnsrship, and exit strategy. Third Party Reprts: MAI Appraisal, Phase I envirnmental, feasibility and thers if required at expense f Spnsr. Spnsr Prmte: Occurs after specified IRR hurdles are met and tiered based n the success f the investment. Clsing Time: As early as 30 days frm receipt f full package, applicatin acceptance and depsit remittance. Cde: HGCber02

9 PROGRAM 3 We can prvide the best htel financing fr prperties wrldwide. Lan amunts n htel lans can range frm $500,000 t $1.3 billin. Fixed rates n htel lans are als available as well as htel lans with adjustable rates. Debt cverage ratis fr htel lans start at 1.10 and up. HOTEL PROGRAM PARAMETERS Lan Term: Lan maturities are nrmally ten years. Other maturities will be determined based n yur specific case. Lan Amrtizatin: 25 and 30 year amrtizatin Debt Service Cverage Rati (DSCR): DSCR f 1.35:1 dependent upn prperty type, physical cnditin, age, lcatin and cmpetitiveness f market psitin Lan t Value Rati: Up t 70% with Limited Service r up t 80% with Full Service f MAI appraised value cnfrming t FIRREA and USAO guidelines and up t 75% with limited service r up t 85% (full service) f lan t acquisitin cst (if applicable). Lan Escrws: The brrwer will typically cntribute mnthly t an escrw accunt fr real estate taxes and prperty insurance. The brrwer will usually als establish a mnthly capital replacement escrw reserve equal t the greater f I. 4 % f grss revenues r II an amunt t be determined by DBMC n the basis f an engineering reprt and DBMC s site inspectin. These reserves may be waived r capped depending n yur situatin. Cde: THLHLWLDW1

10 PROGRAM 4 Nn Recurse Purchase: $3 MM and up lan amunts 5 10 year term year amrtizatin DSC % LTV Flagged Limited & Full Service, Extended Stay Experienced peratrs Recurse Purchase $500 K Minimum Lan A. Purchase existing perating prperty May include:. Land / Building / Equipment / Gd Will. Operating Capital. Existing business B. Up t 85% CLTV SBA lan $500 K t $15 MM C. Requires a Star Reprt Refinance A. Rate and term B. Cash ut C. Requires a Star Reprt Cnstructin $3 MM minimum Land purchase Cnstructin cst Equipment Interest nly One time clse cnstructin t permanent lan Requires a Star Reprt and Feasibility Study Bridge and Rehab Lans (fr nn stabilized prperties) 1. Purchase 2. Rehab 3. FOREIGN NATIONALS Cde: NCPHM

11 COMMERCIAL REAL ESTATE FINANCING All types f incme prducing prperties are cnsidered with cmpetitive pricing and terms. We price and structure each lan based upn its merits using sund underwriting and a fair assessment f the prperty, t ensure ur brrwer gets the best terms available. Yu have cnnected t the premier natinwide cmmercial mrtgage lender prviding lans f $1,000,000 and up fr: Hspitality prperties Industrial prperties Mbile hme parks Mixed use prperties Multi family Office buildings Retail centers Single tenant and wner user Special purpse prperties Whether yur cmmercial lan request has a stry r is a "perfect gem", we will cnsider each deal and price the lan t the perceived risk f the transactin. We prvide the fllwing financing: Bridge lans Permanent lans Mezzanine debt Preferred equity Jint venture equity HEALTHCARE PROPERTY LOANS Actively financing all types f senir living facilities and specialty medical facilities. Healthcare real estate financing? We specialize in it. Yu have cnnected t the premier natinwide healthcare mrtgage lender prviding healthcare real estate lans f $1,000,000 and up fr: Assisted living facilities CCRC's Independent care facilities Skilled nursing facilities Medical ffice buildings Surgery centers Nt fr prfit hspitals Prprietary hspitals Senir Husing We prvide the fllwing financing: Bridge lans Permanent lans Mezzanine debt Preferred equity Jint venture equity

12 MEZZANINE/EQUITY FINANCING We are active sub debt capital prvider f mezzanine debt and a prvider f equity fr incme prducing prperties, prperties that are being repsitined, and prperties needing rehab r expansin. Value add pprtunities allw brrwers t access this capital withut the traditinal lan t value restrictins. This financing vehicle is a "hybrid" f equity and debt, and used t expand a cmpany's liquidity r cmplete a real estate prject. Unlike a hard mney lan that is slely secured against the real estate asset, a mezzanine lan is secured by a pledge, r assignment, f the prperty's wnership entity. Often a mezzanine lien is nt secured by the real estate asset. A mezzanine structured lan can prvide a higher "lan t value" than a hard mney lan. Mst all prperty types can qualify fr mezzanine financing and bth majr MSA and tertiary lcatins are cnsidered. We lk fr mezzanine pprtunities in all 50 states, and prefer transactins beginning at $5 millin (lwer amunts n a case by case basis nly). EQUITY FINANCING A higher leveraged financing ptin typically used when the existing senir lender prhibits subrdinated debt financing. Similar prperty types, lcatins, and sizes t ur mezzanine prgram, equity structure varies based upn the fllwing: Stabilized cash flwing prperties Repsitining r "value add" prperties Rehab/expansin HARD MONEY LOANS A direct surce f capital fr thse prperties that d nt qualify fr institutinal type financing fr ne reasn r anther. Therefre, ur pricing and csts vary and are custmized fr each lan. Our general parameters are as fllws: TERM: 1 5 years LENDING AREA: Natinwide AMORTIZATION: Interest Only LOAN TO VALUE: up t 70% LOAN AMOUNTS: $250,000 $25 millin INTEREST RATE: 8% 13% PREPAYMENT PENALTIES: Nne CASH OUT: Allwed Cde: DMHMEQ302

13 BRIDGE LOANS Cmmercial Hard Mney Flrida, FL Flrida Bridge Lan & Cmmercial Flrida Cmmercial Lans Apprved in as little as 60 Minutes Hard Mney Lan financing t $200k t 35 millin +, High LTVs. True equity based lending. N incme check available. ALL PROPERTY TYPES COMMERCIAL, INVESTOR RESIDENTIAL, SUPER JUMBO, HIGHRISE, CONDO CONVERSION, INDUSTRIAL, WAREHOUSE, RETAIL, APARTMENT, INVESTOR, LUXURY VACATION PROPERTY, HIGH RISE INVESTOR COOP, BUILDINGS ALL PROPERTIES $200,000 t $35,000,000 Natinwide All 50 States Immediate Prperty Inspectin in Flrida Flrida Cmmercial Hard Mney in 24 Hurs Frm Apprval Bad credit OK when applying fr a Hard Mney Mrtgage Lan with us All situatins cnsidered including bankruptcy, freclsure 24 Hur Apprvals / Emergency Mrtgage Clsings Our Hard Mney Mrtgage Lan Prgram is designed fr quick clsings Hard Mney Bridge Lan rates range frm 10% 16% with LTVs up t 75% Flrida, NYC exceptins t 80LTV. Our Hard Mney Mrtgage Lans are based n actual prperty/prject value Asset Based Lan Apprvals fr all ur Hard Mney Mrtgage Lans Updated Appraisal Ok IMMEDIATE SITE VISITS NATIONWIDE 1 2 days in entire state f Flrida. Flrida, Entire State f Flrida, (Miami, Frt Lauderdale, Tampa Bay, West Palm Beach, Palm Beach, Orland, Tampa, Tallahassee, Panama City Beach, Pensacla) Title insurance btainable and can be reviewed in 1 business day. Emergency Flrida hard mney, cmmercial hard mney and FL Bridge lans FAST. Cde: CFSNFL679 CONVENTIONAL CONSTRUCTION FINANCING Cnventinal Cnstructin Lans ($2 MM minimum lan amunt N Maximum) Up t 80% LTV (*Cmpleted Value nt cst) Senir Living and Assisted Living facilities thers Cntact us fr details Rehab Up t 65% ARV (*Cmpleted value nt cst) Sr. and ALF Multifamily Htels and Mtels Must be flagged / Full service nly Terms 12 mnths t 25 years Interest nly during cnstructin / Amrtizatin after cmpletin Gegraphic Lcatins / Majr metrplitan areas in US nly Lan Type Structured as first lan Mnthly Draw * Lan amunts based n pr frma stabilized value. Cde: NCPCON13V

14 PROGRAM 2 Cnventinal Financing fr Cmmercial Cnstructin lans Natinwide. Frm $500,000 t 50M + and Up t 100% LTC 75% 80% LTV. Prperty types and Lcatins Mst Cmmercial prperty types are cnsidered Must be in the path f grwth Greater than 15,000 ppulatin is preferred Cmmercial "fr lease" prperties Apartment Assisted care Self Strage Mbile Hme Parks Warehuse Office Retail Medical Single tenant cnsidered n case by case basis The Offer Prime plus.5 1% mnth cnstructin term One time clse Cnverts t 3 yr. mini r 10yr perm at the end f cnstructin 2 3% lender fee Prperty must underwrite at 1:1 rati at clsing Typical year pre pay penalty Typical Brrwer Prfile Builder Develper Investr Experienced Prfessinal Requires strng brrwer credit net wrth liquidity Has several prjects in the wrks Bad credit will nt be turned dwn if yu have cash in the deal Next Steps Executive summary explaining the deal n paper Lcatin map Fixed price cnstructin cntract Pr frma prjectins Current Financials last 3 years persnal and crprate tax returns Resume f principals Purchase cntract Architectural renderings These are the straight frward cnstructin finance guidelines fr prperties such as Mbile hme parks, self strage, apartments, retail strip centers, warehuse, ffice and assisted care facilities Natinwide. Cde: DM155LCC

15 LAND Mney is available t lend fr regardless the stage f develpment. There are very few banks lending fr cmmercial land but, we are! Sme prducts ffered include: Speed We will give yu a quick answer with expeditius clsing times NO r Alternative dcumentatin NO Pre Payment Penalties Crss cllateralizatin Interest nly financing ptins Mney deplyed n Cmmercial Lts can be used fr the acquisitin, refinance, r cash ut. Cmmercial Land Qualified: Raw land Cmmercial Un Entitled land Entitled land PUD Prperty Type: Mixed use develpments Hrizntal Cnstructin Vacant land Paper lts TIFS Lan Types: Purchase, Refinance, Cash Out, DPO, Freclsure preventin, Bank Wrk Out, Stalled Subdivisins Cmmercial Land Financing is available tday! Lending Area: Hawaii, Oregn Clrad Utah New Mexic Califrnia Arizna Nevada Flrida Idah Oregn, Flrida and ther markets cnsidered Natinwide. Min Max Lan Amunt: $500,000 t $20,000,000 Term: 12 t 36 mnths Interest: 6% t 13% Interest Only Fully amrtized cmmercial land lan is als available Amrtizatin: Interest Only Interest reserve (n mnthly payment) Maximum LTV: Typically 30 50% as is value bases upn an appraisal Lien Psitin: 1 st Lien nly Prepayment Penalty: Typically Nne Minimum Credit Scre: Nne Pricing will be related t the verall risk Originatin Fee: 1% 5% f the lan amunt Depends n the cmmercial land lan prgram. Exit Fee: 0% is typical Due Diligence Fee/Depsit: Brrwer is respnsible fr all third party reprt fees. Typical range $3,500 $9,500 after written apprval. Clsing Timeframe: 3 weeks give r take a few days is typical Cde: LDCLM4477

16 PROGRAM 2 RAW LAND Eligible Prperties: Purchase Refinance Cash ut Bank wned, REO prperties, ballning ntes, Trust deed, mrtgages Minimum Lan Size: $500,000 $5,000,000 Pricing: 12.99% 14.99% Interest nly 6% 8% Originatin pints (paid at clsing) Lan Terms: mnths frm initial investment Prepayment Penalty: Nne Persnal Guarantees: NO Nn recurse frmat Lan t Value: 50% AS IS maximum LTV As cmpleted LTV is nt typically cnsidered New Equity (cash) Requirements: Typically n new cash fr Refinance r cash ut Purchase minimum 40% f ttal purchase price Third Party Reprts: Appraisal Cllateral value pinin Reliable Phase I envirnmental reprt (lder reprt can be used if prperty des nt display bvius signs) DML Prperty inspectin (required) ALTA land survey Preliminary Submissin Package fr Residential Land Lans: 1. Well written summary f the prperty descriptin, current entitlement status and gals 2. Representative clr aerial phtgraphs (6 7 preferred) 3. Surces & uses 4. Spnsr(s) resume Cde: DM155RLan

17 PROGRAM 3 Jint Venture Land Lans Eligible Prperties: Bank wned, REO prperties, stalled residential subdivisins, ballning ntes, verleveraged prperties, discunted ntes frm banks, thrifts, pensin funds, etc. Minimum Lan Size: $2,000,000 $10,000,000+ Pricing: Target IRR 25% 35% includes management fees, with an upside ptential Lan Terms: mnths frm initial investment Prepayment Penalty: Nne typically Persnal Guarantees: NO Nn recurse frmat Lan t Value: 55% AS IS maximum LTV As cmpleted LTV may be cnsidered n a case by case situatin New Equity (cash) Requirements: NO 100% financing Develper Minimum new equity CASH injectin 10% 20% f ttal prjected cst Third Party Reprts: Appraisal Cllateral value pinin Reliable Phase I envirnmental reprt (lder reprt can be used if prperty des nt display bvius signs) DML Prperty inspectin (required) ALTA land survey Preliminary Submissin Package fr Jint Venture Land Lans: 1. Prperty descriptin, address, & current debt structure 2. Well written summary f the gals 3. Representative clr aerial phtgraphs r lder appraisal 4. Pr frma 5. Surces & uses 6. Spnsr(s) resume Cde: DM155JVLan

18 PROGRAM 4 Hard Mney Land Eligible Prperties: Purchase Refinance Cash ut Bank wned, REO prperties, Stalled PUD's, ballning ntes Minimum Lan Size: $1,000,000 $15,000,000+ Pricing: 12.99% 14.99% Interest nly 5% 8% Originatin pints (paid at clsing) Lan Terms: mnths frm initial investment Prepayment Penalty: Nne Persnal Guarantees: NO Nn recurse frmat Lan t Value: 50% AS IS maximum LTV As cmpleted LTV is nt cnsidered New Equity (cash) Requirements: NO 100% financing Develper Minimum new equity CASH injectin 10% 20% f ttal prjected cst Third Party Reprts: Appraisal Cllateral value pinin Reliable Phase I envirnmental reprt (lder reprt can be used if prperty des nt display bvius signs) DML Prperty inspectin (required) ALTA land survey Preliminary Submissin Package fr Jint Venture Land Lans: 1. Prperty descriptin, address, & current debt structure 2. Well written summary f the gals 3. Representative clr aerial phtgraphs r lder appraisal 4. Pr frma 5. Surces & uses 6. Spnsr(s) resume Cde: DM155HMLan NATIONWIDE Lan Parameters fr Cmmercial Prperties Lan Size: $50,000 t $50,000,000 Lan Size: $50,000 t $50,000,000 Lending Area: Natinwide Term: 1 3 Years Prperty Type: All Cmmercial Prperties Including Multi Family & Mixed Use 1st & 2nd Trust Deeds Interest Rates: 8.5% 12% (Rates influenced by LTV & cllateral type) Lan t Value: Up t 60% Amrtizatin: Interest Only & Principal and Interest Available Originatin Fee: 2% 4% Taken at Clsing Frm Lan Prceeds Clsing Terms: Clsings in as Quick as 5 Business Days N Up Frnt Fees: Unless Appraisal r Phase 1 is Needed Cde: BLCAcmUS

19 PROGRAM 2 Fast Funding n all types f prjects Incme Prperties Shrt Term Bridge Lans Refinance and r cash ut Htels, ffice building, gas statins Funeral hmes and restaurants Raw land Cnstructin lans Acquisitin and develpment Terms Lans frm 500K t 20MM Can prvide cmmitment letters in 24hurs Fast clsing Shrt term t lng term financing Aggressive rates Lan Requirements Guidelines cme dwn t the asset details, we need t have a lan t value rati that makes sense in rder t lend n. N pages f frms, just need the details, and the lans needs t make sense. N credit requirements N incme requirements N prepayment penalty N strict guidelines Lan must be transparent Cde: JNW752wld

20 DEBT, EQUITY AND JOINT VENTURES Jint Venture/Preferred Equity Financing Seeking t make passive, preferred equity investments. Funds can be used fr: Cmplete real estate develpments Repsitin prperties Pay dwn existing financing Take advantage f special pprtunities Acquire trubled real estate Acquire mrtgage debt at a discunt Buy ut partners THE INFORMATION BELOW PROVIDES A GENERAL OUTLINE OF OUR JOINT VENTURE/PREFERRED EQUITY PROGRAM. Investment Amunt: $500,000 minimum, n maximum Investment Structure: Preferred membership interest in the develpment entity Preferred Return: 12% per annum, cumulative frm investment date Cmmn Interests: We receive a 40 50% cmmn membership interest in the develpment entity fr a nminal amunt, in cnsideratin fr ur investing in yur prject. Spnsr Cntributin: Apprximately 15% t 20% f ur equity investment fr which the spnsr receives a preferred interest similar t urs, but subrdinate t ur interest. Develpment Entity Distributins: Net cash flw frm the peratin and resale f the prject will be applied in the fllwing manner: a) Pay debt service n any prject related lans; b) Pay cumulative preferred return n ur preferred membership interest c) Redeem ur firm s preferred membership interest; Term f Investment: Maximum 5 years Prduct Types: All real estate, except land Market: Natinwide Decisin Making: Majr decisins (e.g. terminatin f manager, sale, r refinance) require ur apprval Recurse: Nn recurse, except fr standard carve uts. A cmpletin guaranty may be required n majr develpment r rehab prjects Clsing: Typically, 4 weeks. Hwever, as fast as 10 days frm the date f receipt f all requested due diligence items. Underwriting Requirement: All final submissins must include an Argus Valuatin DCF data file. If yu (r yur client) have nt mdeled yur submitted prject in Argus Valuatin DCF, yu must engage us r a third party t mdel yur prject. Hwever, n a preliminary basis, please feel free t submit yur prfrma in any frmat. Cde: NLJVEQNW

21 PROGRAM 2 Jint Venture Financing Jint venture financing is similar t a partnership in that it must be created by agreement between the parties t share in the lsses and prfits f the venture. Even thugh ur clients may nt start ut lking fr partners, they recgnize the value f sharing equity ver "straight" debt financing. As a result, thrugh jint venture financing, ur Clients can reduce the amunt f their persnal capital at risk but still fcus n the gal t get their prject funded. In sme cases, jint venture financing may be the nly way t get the prject funded. ELIGIBLE PROJECTS We will cnsider Multifamily, Retail, Industrial, Office, Residential Develpment, Hspitality and Cndminium prjects fr the fllwing types f investments: Develpment Recapitalizatins Renvatins Acquisitins Refinance ELIGIBLE PROPERTY LOCATIONS We wrk n prjects in all 50 states as well as internatinally DEAL SIZE $10,000,000 t $1 Billin+ HOLDING PERIODS 1 5 Years. Prject duratins will affect risk adjustments in pricing INVESTMENT AMOUNTS Amunts up t 100% financing TARGET PROFIT PARTICIPATION Depending n prject dynamics, spnsr suitability and deal structure lender will target between 25% and 75% prfit participatin Cde: VETJV106Nw