Subordinate Financing

Subordinate Financing

A second mortgage on a property that is not paid off when the first mortgage is refinanced.

The second mortgage lender must allow subordination of the second to the new first mortgage. See Second Mortgage/Subordination by Second Mortgage Lender.

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Approximately 3.4% of the loans possessed subordinate financing at origination, contributing to the pool's WA combined loan-to-value (CLTV) ratio of 76.1%.
Additional Subordinate Financing: Three loans (20.5% of the pool) have additional subordinate debt in place, including the two largest loans, Regent Medical Office (10.1% of the pool) and Congressional North Shopping Center & 121 Congressional Lane (8.5%).
Jonathan Castellanos provides representation to lenders and borrowers in connection with their mortgage and/or subordinate financing transactions involving all asset classes and types.
HFF worked on behalf of the borrower, New Boston Ventures, to secure a $46 million fixed-rate construction loan through East Boston Savings Bank and $12.7 million in subordinate financing from Canyon Partners Real Estate LLC.
With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized companies.
Jeff Hill, the managing director of subordinate financing for BDC Capital, said, in a joint statement with Marvin Junop and Mark Lunick, the BDC Capital managers, 'Over the past several months, we have worked closely with iLOOKABOUT management to gain an understanding of the company's current and longer term prospects.
Other types of financing are subordinate financing, etc.
Violation of Prohibitions Against Transfer of Ownership or Subordinate Financing. A borrower faces full recourse liability if it violates restrictions on sale of the property or interests in the borrower or on secondary financing as described in the loan documentation (commonly referred to as due-on-sale and due-on-encumbrance clauses).
The Alliance's proposal also suggested a minimum down payment of only $500 from personal funds, with private subordinate financing making up the rest.
Greystone targets first mortgages from $5 million and up, as well as subordinate financing from $1 million.
Matthew Kellow, Managing Director, Subordinate Financing with BDC commented, BlackBridge is a dynamic, growth-oriented, and forward-thinking company that is a great example of the type of company we are looking to partner with over the long-term.
Through its national direct origination platform, it provides different flexible financing solutions and originates senior mortgage loans, as well as subordinate financing, mezzanine debt and preferred equity in the US.