Mini Perm

(redirected from Mini-Perm)

Mini Perm

In construction and project finance, an informal term for debt financing that is payable over three to five years. Generally speaking, a developer accesses mini perm financing to complete the project to the point where it can begin to produce revenue. The developer then uses the revenue to pay off the mini perm.
References in periodicals archive ?
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 funding structure.
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.
Hard mini-perm 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:
A10 Capital, LLC is a full service, nationwide lending business specializing in small to middle market mini-perm commercial mortgage loans.