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Mortgage Capital Financial
 PHONE: 212-631-4272 | TOLL FREE: 1-800-689-0706 | FAX: 212-208-3069
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Joint Venture Funds

Highlights of this program are as follows:

Project Cost Amount $15,000,000  to  $100,000,000

Acceptable Property Types

Apartments (garden & hi-rise), multi-tenanted office, and food anchored retail (no single tenant transactions).
Equity Funds 

Up to 95% of borrower’s equity requirement.
Investment Term 1-5 years available.
Equity Return  Rate 9-10% coupon on equity.
Fees Typically 2 to 3 points depending on transaction size.
Exit Fees

Fee based on a “look-back” at exit to yield a 10-15% annualized IRR (includes interest paid), results in a 40%-60% split in the project cash flow. Length of investment and available cash flow at exit determines split.
Construction/ Permanent financing
 May be provided by fund or placed elsewhere - maximum of 70% of cost is typical.
Debt Service Coverage

1.20:1 for apartments 1.25:1 for other property types.
Third Party Reports:

A minimum of an appraisal, engineering, environmental and a feasibility study will be required. The underwriters may require additional reports as well. The quality of the developer and the project is critical to the program.
Guarantees Personal guarantees required for construction loan portion.
Processing

The underwriter will quote within 5 business days of receipt of primary property data and can generally issue final loan commitment and close within 60-90 days.

Real Estate Loan Submission FormClick here for Loan Submission Form, please complete and
e-mail or fax back to us so we can review your project (in Word).
or in Adobe Acrobat format

Loan Types | Information Needed | Construction Loan Documents | Property Types

Commercial Loan Application Forms | Business Loan Program | Commercial Real Estate Loans

Construction Financing Program | Fixed Rate Financing Program | Real Estate Financing Program | Joint Venture Funds

Rental Properties Checklist | Income Properties Checklist | Construction Lender Checklist

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Loans provided are only for business and investment purposes.  Only business and investment property and other business assets can be used to collateralize any business and / or real estate loan request.  Funds can not be used for any personal purposes and can be only used for commercial business and investment purposes. Borrower may be required to use single purpose borrowing entity which could take the form of a limited liability company or corporation.  The first step to begin to see if there is an interest in your business or real estate financing request is to complete the Loan Submission form and either e-mail or fax back to Mortgage Cap Financial.

Last update 05/28/2009.
Site created 07/14/98.
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