|
ELIGIBLE PROPERTIES: |
Professionally managed
mobile home parks with a minimum of 50 sites. |
|
LOAN
SIZES: |
$1million+ |
|
LOAN
TERMS: |
5 to 30 Year terms are
available. |
|
PRICING: |
Based on the risk profile
of the loan. |
|
ORIGINATION FEES: |
From 0% |
|
MAXIMUM AMORTIZATION: |
30 Years |
|
MINIMUM DSCR: |
1.25x |
|
MAXIMUM LTV: |
80% |
|
RECOURSE: |
Non-recourse with standard
carve-outs available. |
|
PREPAYMENT: |
Yield Maintenance,
Defeasance and Graduated Prepayment Premium options
available. |
|
INTEREST RATES: |
Fixed and variable rates
are available. |
|
THIRD
PARTY REPORTS: |
Appraisal, Phase I and
Physical Needs Assessment are required. |
|
ESCROWS: |
Replacement reserves,
taxes and insurance. |
|
ASSUMPTION: |
Typically assumable
subject to review and approval of the new borrower’s
financial position. |
