TIER 1 PROPERTIES
Tier 1 properties can be financed up to 100%. These properties includes Multifamily, Mixed Used Properties, Green Properties and some NON-Profit properties and projects
Alternative Energy-Green Projects – Up to 100% Financing from $3 million to $750 million for the construction and development of any qualified green energy project, construction and development of qualified multi-family including independent living, assisted living, memory care, medical facilities, office buildings, shopping centers, other commercial and industrial projects.
Not For Profit Projects – Up to 100% Financing for All churches and Christian Schools nationwide requiring $500,000 or more in financing with a 3 year operating history. Universities, Colleges and Hospitals requiring $1,000,000 or more.
Multifamily – Up to 100% Financing with Structured Finance from $500,000 containing five or more dwelling units with common area facilities such as entrances, lobby, elevators, stairs, mechanical space, walks or grounds. Units must be rented on a non-transient basis such that tenants consider their unit their permanent residence. Properties that offer weekly or monthly housing would not be considered multifamily properties.
Mix Use – Up to 100% Financing with Structured Finance from $500,000 Mixed-use properties must contain at least one commercial unit (retail, office etc.) and at least one residential unit. Common types of mixed-use properties include a ground floor retail or office unit with apartments above, all within the same building. The primary use at the property must be for residential purposes in order for it to be considered Tier 1 mixed-use. The mixed-use property type can be classified in any tier depending on the percentage of the multi-family component and the type of commercial use.
Single Tenant –From $2 million and up to 115% funding for Retail, Drug stores and Industrial. Depend on tenant lease term. Net Operating revenue and tenant credit rating. One closing Construction-to-Perm Financing. Debt Coverage of 1.00 (NNN lease) and 1.05 (NN or Gross). Loan-to-Value of 95%+ (Leased Fee Value). Fixed Rates up to 30 years (equal to lease term). Minimum Tenant Rating BBB‐ or unrated if $150 million Annual Net Income. Debt Coverage 1.00‐1.05.