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.
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
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.
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.