Trinity Street Capital Partners’ construction finance program provides developers with an non-recourse option for development finance, when local banks fall short. The TSCP construction program is often combined with the non-recourse permanent finance program, to create a “one stop shopping” solution for today’s modern developer.
Loan Amount:
$10MM and up
Loan Term:
12-36 months
Property Types:
Multifamily, Mobile Home Community, Office, Industrial, Self-Storage, Retail, Hotel
Geography:
Primary and secondary markets (300K Population or greater)
Lien Type:
First Mortgage/ Deed of trust
Loan-to-Cost:
Up to 75% of cost/ 65% (Hospitality)
Origination fee:
1% and up
Prepayment:
Generally none
Recourse:
Non-recourse, partial recourse and recourse, subject to sponsorship financial strength, location and asset quality.
Rate:
30 Day Libor +250bps and up
Completion Guaranty:
Required.
Payment Guaranty:
Required.
Other:
-Previous Experience required
-15% Cash Equity required
-Strong Net Worth and Liquidity