Non-Recourse Finance

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Non-Recourse Finance

A loan secured by the revenue of the project the loan intends to fund, and nothing else. That is, non-recourse finance does not allow the bank or other lending institution access to the borrower's other assets in the event of default. This is a relatively high-risk form of financing; projects that utilize non-recourse finance generally have uncertain revenue streams and long loan periods.
References in periodicals archive ?
About Ready Capital Structured Finance Ready Capital Structured Finance (RCS), headquartered in New York City, is a nationwide CRE bridge and mezzanine lender offering non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities.
Hirt said his team arranged non-recourse financing from a bank that will allow the partnership to engage in its capital improvement program while maintaining limited downside risk.
HFF announced today that it has arranged $32 million in non-recourse financing for the development of a 200-key, best-in-class, boutique hotel in Manhattan s Bowery neighborhood, which will be operated by a top-tier brand name operator.
com) Terrace Capital announced today that it has secured $61MM in non-recourse financing for a portfolio of single tenant, industrial properties located in nine states, scattered throughout the United States.
Through this transaction, ACWA Power Barka has become the first IWPP in the Mena market to establish a non-recourse financing having its tenor extending beyond the term of its Power and Water Purchase Agreement.
Through the deal, ACWA Power Barka says that is has become the first IWPP in the entire MENA region to establish a non-recourse financing with its tenor extending beyond the term of its power and water purchase agreement (PWPA).
In October, AES Solar also completed a USD-90-million multi-borrower non-recourse financing for a 22.
ExecuJet Chief Executive Officer Niall Olver said, "ExecuJet now has a fund available for non-recourse financing, both on and off balance sheet.
8m loan in a first mortgage non-recourse financing, secured by the 124-room Residence Inn by Marriott, located in New Rochelle, New York.
Eighteen months ago, Seabreeze Harbor was illiquid and non-recourse financing was unavailable for non-performing assets," Mekras said.
You might recall that late last year, the current holder of the Crossroads debt sued Flake, Rogers and Mathias, claiming a legal loophole to the non-recourse financing.
The transaction provided maximum proceeds, allowing funds for property updates, and was structured as long-term, fixed-rate, non-recourse financing, said Panagako.