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:

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  FLOATING RATE MORTGAGE MEZZANINE PREFFERED 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 Libor + 600BPS and up 11% + 12% +