Our Real Estate Finance Team is a full-service construction consulting brokerage for ground-up construction, renovation and expansion projects. We also provide bridge loans for repositioning projects and other short-term financing needs. The Team has a strong track record of providing construction financing on virtually all property types including regional malls, large office buildings, multifamily projects, self storage, senior housing, industrial buildings, retail strip malls, mixed used buildings, special purpose assets and hotels and resorts. Minimum loan sizes start at $1.0 million, with no maximum. Some of the best developers consistently choose Palm Tree Financial for their construction and bridge financing needs.
Key program features:
The ability to close acquisition financing in 4-6 weeks, if necessary
An in-house servicing and a dedicated contact for the Borrower
The ability to arrange large construction and bridge loans using balance sheet lenders; and later syndicate portions of those loans, as part of a seamless execution
Rates: 1 or 3 month LIBOR index plus 300-700 bps
Origination Points 1.0%-4.0%
Upfront Costs $15,000.00-%50,000.00
Leverage 60%-75%
Combined Leverage with mezzanine debt 90%, equity up to 100%
Initial Documentation Required to proceed to a Term Sheet/Letter of Interest:
Sponsorship Package -Bio's for all Principals (must include a list of current owned or previously owned real estate) -Financial Statements for Principals -Credit reports for all Principals (within the last 90 days) A completed Financing Request From (see "Forms" tab at the top of this page). Executive Summary on the subject asset or, Offer Memorandum on the subject asset if the transaction is an acquisition Color Photos of the subject property & color renderings Detailed Sources & Uses of Funds Detailed Construction Budget Five Year Detailed Performa Detailed Construction Plans Feasibility Study Business complete tax returns for the last three years Personal complete tax returns for the last three years on all Principals Current Business Balance Sheet and Profit and Loss Statement Previous Third Party Reports -Environmental -Engineering (property solutions report) -Appraisal -Owners Title Policy -General Inspections (roof, termite, etc.) -Survey Current Insurance Policies (copy of declaration page) Any other information you believe to be of importance please include
Palm Tree Financial cannot complete a proper review and ultimately produce terms and or a quote we can stand behind without a complete submission package from you. Kindly submit a complete package electronically, we prefer all packages to be submitted via email/electronically, we do have the capability to receive large files electronically. If you are not able to generate some of the required documentation, Palm Tree Financial does offer documentation services (e.g. Performas, Executive Summaries, Source & Uses of Funds, etc), please visit the tab at the top of our website "Documentation Services Offered" for more details.
If you are a referring Broker you must complete the PTFC Referral Agreement and accompany the Referral Agreement with your submission (this agreement is only required on your first submission). You can find PTFC's Referral Agreement under the "Partner with Us" tab at the top of this page). PTFC will not review any financing submission without an executed referral agreement by the referring Broker and or Third Party referring source.
General pre-screen turn times are 3-5 business days.
PALM TREE FINANCIAL WILL NOT REVIEW ANY PROPOSAL FOR FINANCING THAT IS NOT A COMPLETE SUBMISSION FILE.
