Acquisition Loans

For land and building acquisition, predevelopment costs and critical repairs.

Project Types

  • Multifamily, rental and supportive housing
  • For sale housing, on a case-by-case basis
  • Community facilities

Eligible Borrowers

  • Nonprofit organizations
  • Limited partnerships and single asset entities with nonprofit sponsors
  • Mission aligned for profit entities

Loan Amount

$500,000 to $3,000,000

Term

Up to two years

Interest Rate

Fixed and variable interest rate options available (variable rates based on LIBOR). Please call for current interest rates. 

Fees

Up to 1.75% of loan amount; half payable at commitment, balance due at closing. Borrower is responsible for payment of legal fees and all third party costs including appraisal, Phase I, etc., if applicable.

Collateral

  • 1st lien deed of trust on real estate
  • Other collateral as appropriate

Loan-to-Value

  • 60% for unimproved land
  • 80% for improved land 

Loan-to-value based on “as is” appraised value.

Repayment

  • Interest only, payable monthly
  • Principal due at earlier of construction financing or maturity date
  • No prepayment penalty

Recourse/Guaranties

Loans will have full recourse to the borrower and guaranty from project sponsor, if applicable.

For more information, contact Noni Ramos at 415.395.0956.

 

Opp360 logo

For full access to our tools and resources, please provide the information below.

We use this data to better understand our users; we do not sell or share this data. By providing this information, you can expect to receive newsletters and other updates from Opportunity360.