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Permanent Loans
Through our relationships with banks, credit unions, and other reputable institutions, we have cultivated a widespread network of financiers that provide competitive terms tailored to the specific needs of our clients.
PERMANENT LOAN criteria
Loan Amount
$2 - $200+ million
Interest Rate
Fixed
Loan Term
5-, 7-, and 10-year options
Amortization
Full term interest-only available in select instances
Refinance, acquisition, recapitalization, construction, among others
Security
Senior secured first mortgage or deed of trust
Leverage
Up to 75% as-stabilized, 80% LTC of total project costs
DSCR
Minimum 1.15x multifamily, 1.20x commercial
Origination/Exit Fees
Typically 25 to 100 basis points
Recourse
Non-recourse with industry-standard carve-outs
Geographical Focus
Throughout the Continental US, certain markets excluded
Prepayment
Typically 2 to 3 year lockout, defeasance or yield maintenance thereafter
Closing Time
As quickly as 5 weeks
The above criteria are only guidelines and can be changed at any time without notice. Elrock Capital, LLC (or the "Company") is not a direct lender. These parameters solely reflect the programs of institutions the Company interacts with (the "Lender Network"). The Lender Network can modify its investment approach and any portfolio parameters set forth herein at any time in any manner which it believes are consistent with the overall investment objectives without notice to investors. Each situation is evaluated individually by the Company's Lender Network, subject to due diligence. Not all loans or investments are available in all jurisdictions. The Company assumes no responsibility for any errors or omissions herein. Any information regarding products and programs of the Lender Network is provided only for general purposes and does not constitute (i) an offer to sell or a solicitation of an offer to buy any products or programs, or (ii) a representation that any Lender Network products or programs are suitable for anyone.
