Loan Sizes Range From Minimum $2,000,000 - $30,000,000+
Eligible Property Types |
Geography - Tier 1 Markets in US
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| Multi-family Apartments Grocery Anchored Retail Shopping Centers Mixed Use CBD Office Suburban Office Medical Office Student Housing Warehouses / Distribution / Flex Flagged Hotels Parking Garage Self Storage |
Multi-family anywhere in USA
OTHER TIER 1 MARKETS WITH 500,000+ MSA CONSIDERED |
If the loan request is for purchase, the property must be under contract before submitting a loan application.
| First Mortgages | Purchasing Distressed Debt | Financing Third Parties Purchasing Distressed Debt |
Loan to Value Ratio Up to 75% Interest Rate 11 - 14% Term 1 - 3 years Amortization Interest Only Recourse Preferred Origination Fee 2 - 3 Points Exit Fee None Extensions Yes Extension Fee 1/2 - 1 Point Borrowing Entity Special Purpose Entity |
Loan to Value Ratio Up to 75% Interest Rate TBD Term 1 - 5 Years Amortization TBD Recourse TBD Origination Fee 2 - 3 Points Exit Fee None Extensions Yes Extension Fee 1/2 - 1 Point Borrowing Entity Special Purpose Entity |
Loan to Value Ratio Up to 75% Interest Rate TBD Term 1 - 5 Years Amortization TBD Recourse TBD Origination Fee 2 - 3 Points Exit Fee None Extensions Yes Extension Fee 1/2 - 1 Point Borrowing Entity Special Purpose Entity |
What we need to evaluate the deal (Please do not send documents until we ask for them):
Submit one photo plus the following by email to admin@recapital1.com:
1. Narrative Statement - Explain the deal to us. Why is seller selling the asset? Are you buying a performing or non-performing note, REO or stabilized property? What is the purchase price, current value, how value was determined, loan amount requested, and purpose of loan. If the note or property is non-performing, why? What is your plan to stabilize it? Are there any value plays? What is your Exit Strategy (explain how you will take us out of the loan - such as you will re-fi or sell the asset)?
2. Sources & Uses (list how much money is needed and for what purposes (acquisition, acquisition + rehab).
3. Loans against the property - original loan amount & unpaid principal balance + any other liens (type & amount)
4. Current NOI - even if it is a distressed property or note. Give us the current annualized figure.
5. Stabilized NOI - Pro-forma number (could be after rehab and stabilization). Give us the annualized figure.
We will review the above information and let you know if we think we can help. Allow 2 business days for us to get an answer back to you.
Be prepared, we will ask for some or all of the following if we proceed with the loan:
1. Loan Application (website submission or 1003)
2. Color photos of the property (just a few to show outside and inside)
3. Profit & Loss Statements (current, Proforma, plus last 3 years)
4. Rent Roll (current)
5. Copy of Tenant Leases
6. Personal Financial Statement
7. Schedule of Real Estate Owned
8. Appraisal if you have one
9. Schedule for capital improvements to be made (if any) and the estimated cost
10. List any capital improvements made within last 3 years
11. Tax Returns - 2 yrs personal and business may be required
12. Copy of executed Purchase Contract
13. Copy of the Note if you are purchasing the Note
14. Copy of current mortgage statement to show the unpaid principal balance
15. BIO of the borrower(s) to show commercial knowledge/experience in owning/managing commercial
Thank you
