9 – 27 – 12 G
SP is funding 3, 5 and 7 year fixed rate loans on stabilized assets with a California based portfolio lender with no prepayment penalty. This institutional lender will fund in the eight Western States (excluding Nevada & Arizona) from $2,000,000 to $10,000,000 on multifamily and commercial assets to 75% of value. In place cash flow must support a 1.20 dcr for multifamily or 1.25 dcr on commercial assets. Rates will start from 4.25% for five year fixed funds to 4.80% on a seven year term.
