For Long-Term Project Income-Producing Projects like Multifamily (5+ Units), Senior Housing, Retail, Office, Industrial, Mixed-Use (Apartments-Over-Retail0, Mixed-Use (Office-Over-Retail), Self-Storage/Warehouse, Healthcare/Medical, Hotel/Motel/Lodging/Resorts, and BCCG’s multifamily rental property financing program provides $2,500,000 up to $50,000,000+ for builders and developers who are sponsoring projects for long-term “buy-and-hold” commercial property ownership.
Our in-house loan program is more competitive than a bank loan product and combines the best features of a typical construction loan and combined with the best features of taking on a silent/JV partner. See the long-term program highlights below:
- From 80% up to 90-100% Loan-to-Cost (LTC)*
- Up to 85% Combined-Loan-to-Value (CLTV)
- Fixed Interest Rate starting at the WSJ Prime (currently 8.5% as of 12/1/2023)
- Long-Term, Non-Recourse Project Financing.
- Construction-to-Perm terms of up to three (3) years interest-only w/15-30 fully amortized thereafter.
- Loan proceeds can be used to purchase the construction site, vertically construct the housing unit inventory, install the mechanical systems, finish, market, and stabilize the property upon completion.
- For townhomes, condominiums, and residential subdivisions (raw land development projects considered as well).
- Appraised Value, Market Feasibility, and the Experience of the Project Team Drive loan Approval
- An independent loan servicing agent maintains the monthly loan payment obligation.
NOTE: BCCG is Currently Accepting Applications for the Following “Shovel-Ready/Fully Permitted” Project Types:
- Land Development
- Adaptive Re-Use
- Ground-Up/New Construction
- Conversions
- Expansion
- Renovation
NOTE: All builders/developers must have a horizontal and/or vertical construction permit in hand as a condition of the loan approval process.