PROJECT INFO
Bank bridge-to-perm loan for pre-Cofo lease-up of newly constructed apartments on Melrose Ave
DESCRIPTION
"Bridge-to-Perm; 60% LTV; LIBOR+2.50%, 30yr amort, 1.05x DCR; 12-month term, IO, no prepay. Recourse
Perm option: 36-months, 3yr CMT+200, 65% LTV, 80% LTC, 30yr amort, 1.15x DCR, 2,1,0 prepay.
Value Add Financing
Multifamily
