Seattle Mezzanine construction loan
Hi there,
First time posting here. Can someone shed some light on Mezzanine construction loan terms for condo projects in Seattle? Total LTV 65%, 50% bank, 15% Mezzanine.
Thanks.
Hi there,
First time posting here. Can someone shed some light on Mezzanine construction loan terms for condo projects in Seattle? Total LTV 65%, 50% bank, 15% Mezzanine.
Thanks.
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PM me. Just looked at a condo construction financing deal there - in addition to several other places.
Assuming the deal is $40MM+
Senior loan will be L+350, 3+1+1
Mezz to 65% at L+10-12%.
Great Thanks. What kind of fees are we looking at? Trying the price the deal right now. Experienced developer, but long term rental apartments only. First time condo project. whole new dynamics.
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