Permanent loans are typically for 3 to 10 year terms, but can extend to 15 or 20 or years. They may be interest only or can amortize for 20 to 35 years. Loan amounts might reach up to 80 or 85% loan to value and could be up to 100% loan to cost. Fixed rate loans might be priced at a spread over T-bills or over the Swap index. Floating loans might be priced over Prime, LIBOR or 11th District Cost of Funds. Generally permanent loans are for stabilized properties, but soon to be completed properties with some leasing might qualify with certain reserves or holdbacks. Forward commitments are also available from lenders, allowing the borrower to lock the rate today with a deposit and fund the loan when certain events occur in the future, such as completion of construction or leasing. We have tremendous experience financing Tenant in Common organized borrowing entities.