Multifamily, Retail, Industrial, Office building, Build-to-suit(specialty product), Hospitality, and Healthcare.

Loan amount

Up to $100 million.  Amounts in excess of $40 million require participation.

Terms

Based on equity, product type.  Term: up to 36 months basic construction period (with extensions for property stabilization period).  Rate: spread over 30-day LIBOR. 

Loan to value 

Up to 80% of appraised value or 85% of cost dependent on product type.

Debt service coverage

No less than 1.25x based upon stabilized NOI