At Pendrith Capital, we operate upon the core values of transparency, synergy, and trustworthiness. As a lower to middle market financial advisory firm, we put you and your visions first. We are always determined to help every client find the best capital options available.
Construction Financing is used for development and rehabilitation. Construction financing is issued in phases and interest rates depend primarily on the project, experience, property type, current market conditions, and loan product profile as well as pro-forma. most construction loans are recourse , however non -recourse is available for specific projects and low leverage.
| Construction | |
|---|---|
| Loan Type | Construction to Mini-Perm |
| Loan Amount (USD) | 3 Million + |
| Loan Amount (CA) | 1 Million + |
| Loan to Cost | 75% + Maximum or up to 80% with a Mezzanine Loan. |
| Stadard Reserve | Taxes, Insurance Reserves (Based on several factors),and TI/LC (if applicable |
Construction Financing Rates
| Term | Floating Rate | Maximum LTV | Amortization |
|---|---|---|---|
| 6 Months | 5.955% - 7.463% | 75% - Owner-Occupied or Investment | Interest Only |
| 12 Months | 5.875% - 7.383% | 75% - Owner-Occupied or Investment | Interest Only |
| 24 Months | 6.135% - 7.893% | 75% - Owner-Occupied or Investment | Interest Only |
| 36 Months | 9.845% - 14.503% | 75% - Owner-Occupied or Investment | Interest Only |
Property Types: Retail, Industrial, Multifamily, Self Storage, MHC, Student Housing, Office, Condominiums, Land, Mixed Use, Hospitality and Medical Buildings.
Bridge loans are designed to provide re-stabilization capital for renovation and or stabilization. These are generally short term loans designed to carry the property and or business to a viable exit strategy.
| Bridge Loan | |
|---|---|
| Loan Type | Acquisition, refinance & refinance with cash out. |
| Loan Amount (USD) | 2 Million + |
| Loan Amount (CA) | 1 Million + |
| Loan to Cost | 80% + 100% of renovation costs |
| Recourse | Loan can be recourse or non-recourse depending on underwriting criteria. |
Bridge Loan Financing Rates
| Term | Floating Rate | Loan to Value | Amortization |
|---|---|---|---|
| 6 Months | 9.175% - 15.183% | 80% - Investment | Interest Only |
| 12 Months | 9.675% - 16.183% | 80% - Investment | Interest Only |
| 24 Months | 10.175% - 17.183% | 80% - Investment | Interest Only |
| 36 Months | 10.675% - 18.183% | 80% - Investment | Interest Only |
Property Types: Retail, Industrial, Multifamily, Self Storage, MHC, Student Housing, Office, Condominiums, Land, Mixed Use, Hospitality and Medical Buildings.
Mezzanine financing is primarily used to provide higher leverage for additional working capital or for less equity required on new acquisitions. mezzanine loans are in second position behind the senior debt.
| Mezzanine Loan | |
|---|---|
| Loan Amount (USD) | 3 Million + |
| Loan Amount (CA) | 1 Million + |
| Loan to Cost | 85% |
| Loan to Value | 85% |
| Notes | Usually used in conjunction with CMBS loans, following the same underwriting standards |
Mezzanine Loan Financing Rates
| Term | Fixed Rate | Loan to Value | Amortization |
|---|---|---|---|
| 5 Years | 7.67% - 10.75% | 75% - Investment | 30 Years |
| 7 Years | 8.04% - 11.12% | 75% - Investment | 30 Years |
| 10 Years | 8.48% - 11.56% | 75% - Investment | 30 Years |
Land Financing can be structured as a position in development or as a hold strategy. Financing on land requires equity and or large cash down payment to mitigate the risk. Borrowers may be subject to credit review among personal and or business financials.
| Funding Type | Terms | Funding Amount | Notes |
|---|---|---|---|
| Undeveloped | 5 years - Interest Only | 2 MM Minimum | Timber, Farm and Raw Land |
| Improved | 5 years - Interest Only | 2 MM Minimum | Roads, Sewer and or other Utilities |
| Developed | 5 years | 2 MM Minimum | Commercial or Residential |
