Key
Features
• Suburban Acts as Agent for Global
Bank
• Standard Construction Loan or Fully-funded
Construction Loan Offered
• Requires Substantial Pre-leasing |
|
| Underwriting Criteria |
 |
| |
|
|
| Loan
Size: |
|
Minimum
$5 million |
|
|
|
| Product
Type: |
|
Multifamily
(including student housing with college contract in place)
Office: Multi-tenant
Retail: Anchored and Unanchored
Industrial: Warehouse and Flex-space |
| |
| Loan
Term: |
|
12-
to 24-month maturities with extensions; or 10 years, plus the
construction period for a fully-funded construction loan. |
| |
| Amortization: |
|
Interest-only
during construction period |
| |
|
|
| Interest
Rate Index: |
|
LIBOR
for standard construction loan |
| |
| Maximum
Loan-To-Cost: |
|
To
75%, depending upon type and quality of proposed property |
| |
| Collateral:
|
|
Fee
Interest in Property and Borrower Endorsement |
| |
| Reserves: |
|
None
for standard construction loan. Standard reserves to size fully-funded
loan |
| |
| Recourse: |
|
Full
or partial recourse during the term of construction |
| |
