portfolio management affordable housing commercial real estate credit risk products
bridge loan financing
(Secured by 1st lien)
Allows borrowers to finance properties or portfolios Amortization
with value-added opportunities. Interest only available.
Centerline Capital Group can structure financing that allows bor-
rowers to manage closely a re-leasing or repositioning program. Prepayment
Open to prepayment with payment of exit fees.
Value-added commercial properties, including multifamily, office, Pledge
industrial, retail, self-storage and manufactured housing develop- First-lien assignment of property interest.
ments. Centerline Capital Group also considers select hospitality Single-purpose entities preferred.
and mixed-use property types. Emphasis on projects that need
short-term lease-up, repositioning or rehabilitation. Fees
Typically .5-1% of loan balance. Exit fees range from .25-1%.
Maximum LTV Extension options range from .25-.5% per 12 month option.
Up to 80%. Certain loans may require sponsor guarantees.
Minimum DSCR Non-recourse except for customary environmental, malfeasance
1.05x initial coverage on an amortizing basis. Some loans will and fraud carve-outs. Loans with elevated risks may require full
have less than a 1.0x coverage in which case an interest reserve or partial sponsor recourse guarantees or additional structuring
will be required. Stabilized coverage should be multifamily-1.15; requirements such as letters of credit. Loans with any construc-
office-1.20; retail-1.20; industrial-1.20; manufactured housing tion or rehab component will require a completion guaranty from
developments-1.20; hospitality-1.45; self storage-1.20. the sponsor.
Loan Amount Reserves
$5 million – $50 million. Required for insurance, real estate taxes, leasing commissions
and tenant improvements. Reserves for replacement reserves
Term are on a case by case basis (e.g., not applicable where extensive
From 18 to 36 months, with two 12 month extension options. rehabilitation is intended). Reserves for identified deferred main-
tenance and renovation/repositioning costs. Interest reserves
Interest Rate may also be required to cover debt service shortfalls during
Variable rates available. Loans may require interest rate caps to repositioning.
ensure a minimum DSCR.
Spread Cash management (lock-box) may be required on certain loans.
Market-competitive pricing available upon request.
Borrower is responsible for all due diligence and transaction