Acquisition and Refinance for Commercial Real Estate
With Bridge and Permanent Options for Property Owners
Our Loan Parameters
Permanent | Bridge | |
---|---|---|
Loan Amount | $3 Million to $50 Million (Can provide more than $50 MM on a case-by-case basis) |
$5 Million to $50 Million (Can provide more than $50 MM on a case-by-case basis) |
Primary Focus | Stabilized properties in 80 PLUM Select markets in addition to larger primary and secondary markets | Acquisitions, recapitalization of business plans that entail value-add, transitional or stabilized properties where additional seasoning or flexible prepayment is required |
Debt Yield | In-place debt yield of 7.5% & up | Target minimum exit debt yields 8% to 10% (depending on the property size and location) |
Collateral | First Mortgages | First Mortgages |
Pricing | Fixed rates price over Treasuries (Current Coupons range from 3.50% to 4.50%) |
Floating starting at LIBOR + 275 bps |
Loan Term | 5-10 years and up to 20 on a case-by-case basis | 1-5 years including extensions |
Maximum LTV/LTC | LTV Up to 75% (Up to 85%) |
Typically 80% of cost, and in certain cases as much as 90% LTC |
Recourse | Flexible | Flexible |
Prepayment | Flexible | Minimum interest or yield maintenance |
Amortization | Up to 30 years with partial or full-term interest-only available |
Generally interest-only, with amortization structured on a case-by-case basis |
Fees | Origination Fees: 0-1% | Origination Fees: 1% Exit Fees: 1% |
Customized Lending
PLUM Lending is a full service commercial real estate lender that provides creative structured finance solutions. We specialize in the capitalization of middle-market commercial real estate properties nationwide with a focus on secondary markets.
Properties We Finance
We Simplify the Loan Process
1. Knowledgeable Consultation
A quick phone call with your dedicated loan originator to go over your specific scenario.
2. Secure Document Submission
Submit initial required financial documents discussed in the consultation to obtain a loan quote.
3. Term Sheet Issued
Once documentation is reviewed, you will receive a non-binding term sheet for discussion. PLUM will then issue you an official application on agreed-upon terms.
4. Loan Application Approved
Your loan passes through underwriting and third-party reports are completed. Once approved, loan documents will be drawn, and your loan moves to closing.
5. Loan Funded
Congratulations. You can rest easy knowing that you have acquired the right loan for your particular needs.
“ What really impressed me about my experience with PLUM is that this is the first time I’ve felt like a lender was on my side. When I talk to them it’s like I’m talking to someone on my team. They make the customer feel like they win, and I’d love to work with them again. “
RV Park, Montana
“I felt such a sense of relief that I was able to get a 20 year fixed-rate loan, as that was really important to me. “
Multifamily Property, California
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