New Gables Capital provides funding for property acquisitions, bridge financing, construction (in select circumstances), re-positioning, partner buy-outs, debt re-financing and recapitalizations. Our general parameters are defined below:

 

FLOATING RATE MORTGAGE

MEZZANINE

PREFERRED EQUITY

LOAN AMOUNT

$1,000,000 to $30,000,000

$1,000,000 to $10,000,000

$1,000,000 to $10,000,000

LOAN TERM

6 Month to 3 Years, with possible extension options

6 Month to 3 Years, with possible extension options

6 Month to 3 Years, with possible extension options

ASSET TYPES

Office, retail, industrial, multifamily and hotel, for-sale, residential condominiums, manufactured housing and development sites. Other asset classes to be considered on a deal-by-deal basis.

Office, retail, industrial, multifamily and hotel, for-sale, residential condominiums, manufactured housing and development sites. Other asset classes to be considered on a deal-by-deal basis.

Office, retail, industrial, multifamily and hotel, for-sale, residential condominiums, manufactured housing and development sites. Other asset classes to be considered on a deal-by-deal basis.

SECURITY

First Mortgage and UCC Lien in certain circumstances

UCC Lien

Priority Position in the Ownership Entity

LOAN-TO-VALUE

75% and below

Varies by Property Type – Typically 80%, sometimes includes equity kicker

Varies by Property Type – Typically 80-85%, sometimes includes equity kicker

DSCR REQUIREMENT

To be determined on a deal-by-deal basis.

To be determined on a deal-by-deal basis.

To be determined on a deal-by-deal basis.

AMORTIZATION

Interest Only

Interest Only

Interest Only

ORIGINATION FEE

1-2%

1-2%

1-2%

EXIT FEE

Varies

Varies

Varies

UNDERWRITING  FEE

$7,500, Waived Upon Closing

$7,500, Waived Upon Closing

$7,500, Waived Upon Closing

PREPAYMENT

Minimum Interest on a deal-by-deal basis

Minimum Interest on a deal-by-deal basis

Determined on a deal-by-deal basis

RECOURSE

Typically, Non-Recourse

Typically, Non-Recourse

Typically, Non-Recourse

INTEREST RATE

L+5.50%+

11% +

12% +