permanent lender

permanent lender

One who makes permanent loans on real property.Contrast with construction lender or bridge lender. In the field of commercial properties, many permanent lenders include large prepayment penalties in their loan documents. (Unlike consumer lending, which includes no prepayment penalties, the choice of a permanent lender for a commercial loan can have long-lasting adverse consequences.)

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Tenders are invited for For Low Income Housing Tax Credit Investor Limited Partner Construction And Permanent Lender For The St Francis Park Apartments
To achieve the goal of recouping the original cash invested, the developer must meet two permanent lender benchmarks, loan-to-value (LTV) and debt service coverage ratio (DSCR).
These include forward loan commitments (which commit the permanent lender to a future loan, subject to certain conditions); buy-sell agreements (in which the construction lender agrees to sell the permanent lender all rights and title to its loan); and extension options (which are incorporated into the original loan documentation and may include long-term extensions, or "conversions").
The construction lender was Atlanta's Compass Bank and the permanent lender was GMAC.
Lender Information: EMI is the permanent lender for this
The ultimate permanent lender had already given its commitment.
What: North Beach Place's lead conventional construction and permanent lender, Citibank, will host a Block Party event to celebrate the creation of a new community landmark.
The Network for Oregon Affordable Housing (NOAH), a nonprofit consortium of 15 Oregon banks, has been chosen to be the prospective permanent lender for four of the housing programs receiving AHP funding including: FHDC-Woodburn, Park Avenue Apartments, Frankton Hills Mobile Home Park and the Elk Creek Apartments.
Lenders have basically closed their doors and are taking a "wait and see" attitude regarding real estate, owners like Pivko must be prepared to fill that role permanent lender.
Schlesser joins Bridger following a 20-year career as a construction and permanent lender with major national and international banks.
GMAC Commercial Mortgage Corporation will be the hotel's permanent lender on the project.

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