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mtel
416 Posts |
 Posted - 05/19/2008 : 10:05:19 AM
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This is a very strong project for the right equity partner. The land is in an extremely prime location. Please understand that I'm aware that construction projects are very difficult to fund right now. This should be a viable project.
Principals are looking for 40 MM within 75 days for land purchase. 5.5 MM is needed within 45 days and secures the ability to assign the property/partnership to an equity partner. The balance of 34.5 MM would be needed 30 days after the initial 5.5 MM has been secured. Purchase contract is to be ratified this week so we're really at 75+ days right now.
Located in NJ
160 units
Total project sales - 251 MM
Total project cost - 115.1 MM
Land - 40 MM
Absorption is estimated at 20 months
A hard commitment for debt has yet to be officially secured. Conference call is available for potential partners to obtain the information necessary to feel comfortable with the fact that debt financing can be secured.
Profit percentage for equity partner is negotiable. Principals on this are extremely fair. Equity partner will also be given access to control of construction as an option as well.
I can provide detailed information after we have an NCND in place.
Please contact me if this might be a fit for you.
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maritime
256 Posts |
Posted - 05/19/2008 : 10:07:43 AM
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private money available.
kglenn@maritimecommercial.com
www.maritimecommercial.com
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Eqtylndr
37 Posts |
Posted - 05/19/2008 : 10:29:23 AM
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This sounds like a project we can fund for you.
We handle asset based/collateral based lending and Joint Venture scenarios from $500,000.-$500,000,000.
48-72 hour turn around time in some cases.
LTV will be determined after investor reviews collateral.
Our company is focused on working in conjunction with numerous domestic and international capital sources which service a diverse scope of transactions. We are direct to hedge funds, REITS, equity portfolios, private merchant banks, pension funds, and high net worth family offices in U.S., Europe, Asia, Middle East and Dubai.
Types of loan structures:
Bridge Financing
Construction Debt
Junior Debt
Non Recourse Permanent Debt
Mezzanine Debt
Our scope of projects include but are not limited to:
All types of commercial property
Super Jumbo S.F.R. construction
Hotels
Mining operations
Hard asset monetization (gemstones, fine art, etc.)
Golf course Development
Refineries
Raw Land
Please eliminate broker chains PRIOR to contacting us by using your own agreements; we do not issue protection to broker chains. We must talk to the owner of the collateral to close the deal. This is not negotiable. For our broker referral partners we execute a simple Co Consultant agreement splitting fees 50/50 and fund the loan. Just that simple!!
THE BOTTOM LINE: If you have a REAL asset and need a loan we can fund it!
Please feel free to call any time with questions. I look forward to working together.
Sincerely,
M. Dean Miller
President
Pacific Northwest Mortgage Services / Pacific Capital Partners
Direct (425) 427-2969 Fax (425) 427-2876
deanmiller@pnwms.com
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mtel
416 Posts |
Posted - 05/19/2008 : 10:57:01 AM
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quote:
Originally posted by maritime
private money available.
kglenn@maritimecommercial.com
www.maritimecommercial.com
I just sent an email... |
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aaron1976
631 Posts |
Posted - 05/19/2008 : 7:12:19 PM
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You should be careful with someone telling you they can have a decision in 48-72 hours on a 40 million dollar deal. I have access to numerous private investors who would be interested in an equity partnership. Before I could give any kind of definite answer, I would need some specifics on the deal. Please contact me for details.
Aaron Cirlin
818-590-4288
aaronc1976@hotmail.com |
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gcaron05
247 Posts |
Posted - 05/19/2008 : 7:46:24 PM
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quote:
Originally posted by mtel
This is a very strong project for the right equity partner. The land is in an extremely prime location. Please understand that I'm aware that construction projects are very difficult to fund right now. This should be a viable project.
Principals are looking for 40 MM within 75 days for land purchase. 5.5 MM is needed within 45 days and secures the ability to assign the property/partnership to an equity partner. The balance of 34.5 MM would be needed 30 days after the initial 5.5 MM has been secured. Purchase contract is to be ratified this week so we're really at 75+ days right now.
Located in NJ
160 units
Total project sales - 251 MM
Total project cost - 115.1 MM
Land - 40 MM
Absorption is estimated at 20 months
A hard commitment for debt has yet to be officially secured. Conference call is available for potential partners to obtain the information necessary to feel comfortable with the fact that debt financing can be secured.
Profit percentage for equity partner is negotiable. Principals on this are extremely fair. Equity partner will also be given access to control of construction as an option as well.
I can provide detailed information after we have an NCND in place.
Please contact me if this might be a fit for you.
This is something we would be interested in. Contact me. |
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mtel
416 Posts |
Posted - 05/20/2008 : 06:35:25 AM
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Dan, Aaron-
One caveat. Yesterday, one principal (there are two) requested that I not forward any project-related materials until his attorney gives him the final version of the purchase contract to be signed (ETA sometime this week). I've jumped the gun by a few days. I can still give broad strokes on the project at this point so I'll touch base today. |
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JSKF
223 Posts |
Posted - 05/20/2008 : 07:25:27 AM
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Direct Private Lending the Right Way
Kennedy Funding is an acknowledged expert in unconventional financing, places a high value upon speed, and knows that loans must take into consideration that every client has a unique situation and one-of-a-kind financial circumstances. Our mission is to provide hard money asset-based loans in the shortest possible time frame, including bridge loans for acquisitions and land development, workouts, bankruptcy, and foreclosure. Our goal is to close equity-based commercial loans of $1 million to $100 million or more in two weeks or less, and to fund everything from raw land and residential developments, to commercial buildings and mixed use developments, to hotels and golf courses. Since 1988, Kennedy Funding has been providing ultra-fast services and nimble funding scenarios all across the North American continent. In 1996, we went international with the same philosophy. And today, Kennedy Funding is the industry leader. .
Please contact Jeffsilver@kennedyfunding.com
P: 1-201-342-8500
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mtel
416 Posts |
Posted - 05/20/2008 : 07:38:16 AM
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quote:
Originally posted by JSKF
Direct Private Lending the Right Way
Kennedy Funding is an acknowledged expert in unconventional financing, places a high value upon speed, and knows that loans must take into consideration that every client has a unique situation and one-of-a-kind financial circumstances. Our mission is to provide hard money asset-based loans in the shortest possible time frame, including bridge loans for acquisitions and land development, workouts, bankruptcy, and foreclosure. Our goal is to close equity-based commercial loans of $1 million to $100 million or more in two weeks or less, and to fund everything from raw land and residential developments, to commercial buildings and mixed use developments, to hotels and golf courses. Since 1988, Kennedy Funding has been providing ultra-fast services and nimble funding scenarios all across the North American continent. In 1996, we went international with the same philosophy. And today, Kennedy Funding is the industry leader. .
Please contact Jeffsilver@kennedyfunding.com
P: 1-201-342-8500
Thanks for the response Jeff but Kennedy (and/or KSI) probably wouldn't be a good fit for this particular project. In addition I was under the impression that you're debt not equity. |
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swmsn
4205 Posts |
Posted - 05/20/2008 : 9:21:02 PM
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Mtel.
I have a Grant that comes in as an Equity partner for 20%-30% ( usually 30% on Commercial )
They require the borrower put up collateral in a form of "proof of funds" for a portion of the entire balance needed. This proof of funds needs to be a bank instrument and in the name of the borrowers or private investor in a A rated bank. The money must be verified, parked for 13 months. If you want more info email me. |
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