That deal had to be structured as a mini-perm
loan, which is interesting," he notes.
Capital One announced that it has provided an $80 million construction/ mini-perm
loan for the soon-to-be-completed 194-key 1 Hotel on the Brooklyn waterfront which was initially part of a larger financing package that included a 107-unit recently completed condominium building.
Associated Bank is providing both debt and equity solutions for the project: a $4,675,000 construction and mini-perm
loan and an equity investment $1,600,754.
If project bonds are not available as a financing option for the construction phase of a project, they can nonetheless be incorporated as a potential element of a project's financing mix at a later stage through a mini-perm
Its main product, a mini-perm
loan, has a term of three to five years benefiting property investors who are currently not eligible for longer-term financing.
9 million construction and mini-perm
loan for DuPage Dodge-Chrysler-Jeep, Glendale Heights, Illinois, in December.
Additionally, Solera offers a full line of other real estate related financing options such as home equity loans and lines of credit, residential mini-perm
loans and jumbo loans.
is a structure where legal maturity is typically set at about seven years, forcing the borrower to refinance before maturity or face default.
The loan is an eight-year mini-perm
, the first time such a structure has been used to finance a Middle East power project.
We're real heavy in the dirt development and then following that up with the interim construction to mini-perm
financing on the commercial buildings as well," Lynch said.
Table 2 shows the coefficients of safety and the net present values on both a construction/mini-perm
loan and a mini-perm
using the following underwriting standards: