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The provisions needed to make a ground lease financeable are often overlooked, particularly if the tenant doesn't need financing to construct its initial leasehold improvements.
"This is a good quality piece of real estate that would typically be financeable with a conventional lender," said Wolfer.
Many high-yield companies in the oil and gas sector are in survival mode, suffering from some combination of a higher cost base, declining hedge coverage and lack of financeable assets.
Plus the properties are tenanted with strong national retailers and are ideal redevelopment candidates now or in the future," said Schechtman who added that the buyer will benefit from immediate cash flow and a cap rate which exceeds the financeable rate for the properties.
At the expiration of the loan in 3 to 5 years, with the improved performance of the hotel and the market, the mezzanine provider is counting on their initial 85% to 90% loan-to-value loan, now being only a 60% loan, easily financeable with new first mortgage proceeds.
Most importantly, the builder must have the vision to divide land and design homes that are attractive to the end-users, and in ways that are financeable. To prepare a property for financing, critical factors include proper zoning and approvals.

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