Stonehill CPACE

CPACE Bridge Lender Providing Working Capital for Recently Built Projects

April 02, 2020

CPACE Bridge Lender Bullish On Recently Completed Projects

 

If you need a bridge loan for working capital or debt servicing we have a capital source that is uniquely positioned to fund.

This capital source is a CPACE provider and they're offering an immediate solution to provide borrowers with funds to pay senior lender debt service and cover other working capital needs. They can provide CPACE loans on projects completed in the last 12-36 months and defer any payments through capitalized interest for 2+ years. 

There are loan specific caveats such as they can only provide funds in certain states that have a PACE program that allows this (see below for a list of states). Plus the PACE piece can only be a maximum of 25% of the leverage, however, they're okay with a combined LTV of up to 95%.

If you're in a qualifying state and you've recently completed construction or are near completion then this may be a great source to provide funds for working capital and senior lender debt service.

  • Leverage:

    • Combined LTV up to 95%

  • Rate: around 6.0% Fixed

  • Term: 25 Years

    • 2 Year I/O

    • Beginning in year 3 loan becomes fully amortizing

  • Recourse:

    • Non-Recourse 

  • Property Type: 

    • All types 

  • Geography: Select States ONLY

    • California

    • Connecticut

    • Florida

    • Michigan

    • Missouri (St. Louis City excluded)

    • Pennsylvania

    • Utah

    • Ohio

    • Wisconsin

If you have a deal that fits these criteria then send us an email and let’s start chatting today!

P.S. If you're brand new to the EN Capital newsletter; each week we promote a new capital source for a variety of commercial real estate properties. So if the above lender is not relative to you, the chances are high that we'll have the perfect capital source for you soon.P.P.S. If you have a commercial real estate deal, unrelated to the above, that needs capital right now reach out to us and let's chat!

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Nathan WhighamPresidentCA DRE Broker License: 01793655EN Capital Contact Info:www.encapital.com[email protected]Justin Direct Line: 323-521-4766