CFA Announces Interim Finance Product for Transitional Income Producing Properties
rcop...@cfacap.com
today the nationwide rollout of a new interim financing product for
transitional income properties.
The new product will provide interim or "bridge" financing for the
acquisition and refinancing of income producing real estate assets
prior to securitized permanent financing. The program is utilized for
properties that require repositioning and does not have the rigid cash
flow guidelines traditionally associated with institutional commercial
lending.(transactions may underwrite below a 1.0x dscr) CFA continues
to expand its lending capabilities with a wide range of non-traditional
commercial financing options and is a fast becoming a leader in the
private "bridge" lending industry.
"This new product bolsters CFA's already growing market share in the
short term bridge financing sector", said Steve Anello, the firms'
Chief Operating Officer. This new product, in concert with our
institutional equity backing, gives us the pricing and execution we
need to continue our unprecedented growth.
The minimum loan amount for loans funded through the program is $5
million with terms of 2 to 5 years. The notes will float over the 6
month libor and range in margin from 175 to 550 basis points over the
index. The program also includes an interest only payment option and is
non-recourse. At today's rates that translates into bridge loans
priced between 7.3% and 11% (depending on LTV/LTC, location and
sponsors' financial strength).
CFA's management team has extensive experience in commercial and
residential mortgage origination, and has built a reputation for
service, quality and flexibility. CFA specializes in debt financing for
multifamily, office, retail, resort/hotel and various other commercial
real estate properties.
Contact:
John Clancy
President
CFA Capital Partners, LLC
350 Theodore Fremd Ave
Rye, NY 10580
Phone: (914) 967-5850
Fax: (914) 967-5863
Cell: (914) 329-9809
visit us at www.cfacap.com
Steven Vornea, President
Steven Anello, COO