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1st Coastal Commercial Capital
1-888-316-1787
NO UP FRONT FEES!
Over 1000 Capital Sources

NATIONWIDE LENDING FROM COAST COAST

The Commercial Capital Gazette
Commercial Mortgage and Real Estate News
Published By 1st Coastal Commercial Capital
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If you are looking to purchase a marina or if you currently own one and other similar property types, 1st Coastal Commercial Capital through thier preferred capital sources provides highly competitive and flexible marina financing options for acquisitions or refinances. We can procure financing for our clients at reasonable rates and terms. Our sources have many years of experiencein financing all types of situations and can navigate you through the process with the least amount of inconvienience to you. We provide fast solutions to those who are in immediate need of financing .
Owning and operating a successful marina can be very rewarding and profitable. Whether you are a marina owner looking to renovate your facility or wanting to acquire a new one, inquire about Marina Financing Program now. We are committed to understanding your business and financing plan. Our capital sources have a team of professionals dedicated to the marina industry to offer you sound financing options.
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MARINA FINANCING
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Permanent Loans

  • Loan Purpose Acquisition loans; refinancing existing debt
  • Loan Amounts $25,000 to $25 million
  • LTV 65% to 70% of LTV
  • (30% to 35% equity)
  • Interest Rate Fixed or floating
  • Loan Term 5 to 10 years
  • Amortization 15 to 25 years
  • Prepayment Varies depending upon lender;

  • Yield maintenance or declining %
  • Debt Service Coverage Generally 1.30:1 minimum
  • Guarantees Generally required; may be reduced to carve-outs after performance.


Loan Amounts $2 million to $20 million

  • LTV 55% to 65% of LTV
  • (35% to 45% equity)
  • Interest Rate Floating; fixed or floating during mini-perm
  • Loan Term 2 years converting to mini-perm
  • Amortization Interest-only during construction; amortization during mini-perm
  • Prepayment No prepay permitted during construction
  • Debt Service Coverage Not applicable during construction
  • Guarantees Required. In addition, completion guarantee during construction.

Construction Loans: (When available)

Loan Purpose New marina construction; major expansion or improvements to an existing marina

  • Loan Amounts $2 million to $20 million
  • LTV 55% to 65% of LTV
  • (35% to 45% equity)
  • Interest Rate Floating; fixed or floating during mini-perm
  • Loan Term 2 years converting to mini-perm
  • Amortization Interest-only during construction; amortization during mini-perm
  • Prepayment No prepay permitted during construction
  • Debt Service Coverage Not applicable during construction
  • Guarantees Required. In addition, completion guarantee during construction.

Loan terms and conditions are determined by:

•Sponsor financial strength and experience
•Debt service coverage ratio (DSCR)
•Loan-to-value (LTV)
•Loan-to-cost (LTC) and cash equity if acquisition or new construction
•Location and access of the marina
•Marina market (trends in occupancy and rental rate trends)
•Capital market conditions (NP)
FINANCING PROGRAMS