Joint Venture Partners
Need a joint venture partner? Cortgage.com through its many affiliations has available a joint venture partner program that can allow funding for certain commercial real estate projects that may lack capital. Our borrower must have a minimum credit score of 750, a viable business plan and exit strategy along with relevant track record and experience, net worth and liquidity.
MINIMUM LOAN: $5,000,000.00 (below case by case - via affiliate)
LOAN TERM: Negotiable
AMORTIZATION: Up 30 (depending on on the deal) or interest only
MINIMUM DSCR: Case by Case
MAXIMUM LTV: Case by Case (Generally 75%)
INTEREST RATE: Market rates based on merits of the deal
ELIGIBLE PROPERTY TYPES: Most Income Properties
ELIGIBLE BORROWER: Single Asset Entity
SPONSORSHIP: Good overall credit with sufficient liquidity and demonstrated experience on similar properties/projects
TAX AND INSURANCE ESCROWS: Required
REPLACEMENT RESERVES: Case by Case
SECURITY: First mortgage lien on subject property with personal guarantees. (Additional credit enhancement such other collateral or letter of credit to be determined)
THIRD-PARTY REPORTS: Normal reports including MAI appraisal, Phase I, Estructural and enginnering reports, Survey, ALTA title and any other required by underwriting. We can work off (update) existing reports if under one year old and meets requirements
ORIGINATION FEE: Negotiable
UP-FRONT COSTS: Actual costs for third-party reports and due-diligence
IMPORTANT: This is not an offer to make a loan, all requests are subject to normal due-diligence and final approval under conditions that are standard for the specific transaction. The above terms and conditions are subject to change without prior notice and other terms and conditions apply.