08/03/2011
A western regional bank is funding construction and bridge projects up to 85% of cost in 19 Western states including Missouri, Wisconsin, and Hawaii. The LIBOR based financings carry a minimum 50% recourse, no floor, and are available to professional real estate borrowers. This capital provider will consider most property types with at least 10% cash-in on a spec basis with no preleasing required. Fixed coupons may be provided with a SWAP or cap/collar at L+250-300.