1st Coastal Commercial Capital
NO UP FRONT FEES!
Over 1000 Capital Sources
The Commercial Capital Gazette
Commercial Mortgage and Real Estate News
Published By 1st Coastal Commercial Capital
Although we do have several sources most banks will not lend on overseas investments because of the onerous taxes' that are applied. It makes it difficult if not impossible to make a profit. Due to the fact that we have conduit relationships with multiple capital sources we have a greater opportunity to find funding for you project. Keep in mind that it takes time to ferret out those sources and you must have patience.
Overseas, this major lending source underwrites loans ranging in size from $10 million ($5 million in Canada and Mexico) to $100 million or more, backed by one or more of the following:
•Hard currency [US dollars, DM, EURO, GBP, JPY, etc] and/or existing,
•Non-income real estate assets of defined value
•Financial securities, in most countries of the Western world.
Typically, loan amounts range from 50% to 70% of the properties value supported by strong cash flow and/or credit tenants, with terms of 1 to 5 years, paying interest only for the term of the loan. The minimum Debt Service Coverage (net Cash Flow divided by Debt Service “DSCR”) should range between 1.25X to 2.0X, depending on the type of property and credit enhancements.
In cases where hard currency cash flow cannot be established, they will accept an Investment Grade enhancement in the form of a Surety Bond or a Standby Letter of Credit equal to the Net Operating Income of the property, in US dollars or other hard currency. The enhancement can be issued for a period of one year, automatically renewable, for the duration of the Loan Term. In this scenario, they could lend up to 98% of the present net value with a minimum DSCR of 1.05X. Terms would be self-liquidating over 5 to 20 years.
1st Coastal Commercial Capital - 3201 Mountain Rd Suite 116 - Pasadena, MD 21122
Office Phone: (410) 255-7437 Fax: (410) 360-1429 Cell Phone: (443) 257-9096
Toll Free Phone: (888) 316-1787
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