Commercial Real Estate Financing
CRE Program $50 Million to Over $5 Billion
Prime Commercial Lending through its fund Prime Capital Ventures is proud to announce the $188,000,000 funding of ALux Properties, LLC.
Prime Capital Ventures just funded Indigo Pharmaceutical for $20,000,000 for the construction of their new facility to include the building, state-of-the-art equipment and working capital.
Prime Commercial Lending recently committed to lending $17 Billion nationally and internationally with a South Korean firm.
Prime Capital Ventures:
Loan Amount: $50 Million to Over $5 Billion
Prime Commercial Lending, through our own fund Prime Capital Ventures, offers one of the industry’s most unique and innovative commercial real estate finance programs both Nationally and Internationally. We are entrepreneurial bankers that take a practical approach in underwriting and funding sponsors. The goal is to fund qualified transactions and assets with a sponsor who can demonstrate a good track record and experience without the headaches Banks present today. We have the ability to finance 100% of the whole capital stack. There is no need to syndicate other investments.
Prime Capital Ventures: For Both Debt and Equity
Program Highlights & Process:
- Loan Amount: $50 Million to Over $5 Billion
- Geography: United States and Select International Countries.
- Property Types: Multifamily, Retail, Office, Mixed Use, Ground Up Development and Construction. Raw Land, Industrial, Hotels, Resorts, Gaming
- Rate: 6.5% to 8% Interest Only Structured as a Line of Credit.
- Term: 5 Year Term with optional 1 year extension.
- LTC : Up to 80%; 100% for construction projects.
Sponsor Contribution Requirement: We require all sponsors to have 20% of the project cost or funding request in liquid cash for their projects. We cannot consider money already put into the project or assets that are already in place for this requirement. This 20% is required and serves three purposes in order for us to fund your project. This deposit goes into an ICA account for the following purposes.
» It allows us to leverage the capital needed for your project.
» Source of Interest Only Reserves throughout the term.
» Is used as additional collateral for the project.
Sponsor Experience: We look heavily at the sponsor’s ability to perform based on experience and track record with similar projects at the investment level being requested from us.
Equity: In most cases we will require a 10% to 20% equity stake in the transaction with a pref equity rate determined on a case by case basis. * Note that for transactions over $100 Million whereby the sponsor does not have 20% but has a minimum of 10% we can bring in the other 10% but will require a minimum of 50% equity ownership in the project.
1. Initial Exploratory
Initial exploratory phone call is set up with us and Sponsor. After call we will send a (Project Submission Form) which is to be completed by sponsor and return back to us for review.
Our board reviews the project and makes a determination if we have further interest.
3. Moving Forward
If we proceed forward the sponsor will receive a checklist of items needed for us to generate a term sheet.
4. Term Sheet
Upon receiving signed term sheet it moves to formal underwriting. A checklist will be sent on any remaining items needed including a KYC to be completed by sponsor and a proof of funds for the 20% of the project.
Approval Issued and finalized construction budget/draw schedule will be required by us. Then LOC Agreements and loan documents are sent via Docusign to sponsor.
7. LOC Agreements
Upon Execution of LOC agreements wire instructions are sent to sponsor to wire into our ICA account.
Upon wire confirmation from us, the sponsor is sent an acknowledgement letter with ICA account number, and sponsor will receive a welcome package.
9. 30 to 90 days
Upon receipt of wire, funding will take 30 to 90 days to fund the first tranche according to sponsors budget and draw schedule.
Project funded. Project manager assigned.
66 South Pearl St.
Albany, NY 12207
When it comes to property investment, a dynamic and flexible approach is key to maintaining success. Sticking with the same strategy year in, year out, can lead to stagnation or even losses. On the other hand, actively managing your portfolio and making adjustments as...