At LD&A, commercial real estate lending is about far more than quoting rates – it’s about getting your deal done. Today, managing real estate debt and accessing capital markets is increasingly complex and nuanced. Each acquisition and development come with its own unique financing needs, where finding the right loan means avoiding pitfalls, finding not only the best rate but with the right terms. You need an experienced financial advocate on your side, one who will bring fresh thinking and a commitment to see your project through until the deal is done.
LD&A. From Day One to Deal Done.
What we do.
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Bridge debt capital is perfect for “value-add” transactions which require between 80% - 85% “last dollar” loan-to-value financing. Pricing is market and risk based and typically floats over an index for between 2 - 5 years. Underwriting debt coverage ratios typically range from 1.0 - 1.5 times based off existing cash flow. Prepayment penalties can either be fixed or flexible based upon loan structure. Financing sources include both institutional and private investment companies.
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Credit Tenant Lease (“CTL”) Financing is a hybrid form or financing featuring a blend of corporate and real estate finance which typically covers 100% of project costs. Not loan-to-value constrained like traditional CRE loans, CTL financings are highly customized and sized based on the underlying tenant’s credit rating, lease structure, and rental payments. The loans are non-recourse and feature low fixed interest rates for between 20-30 years in duration. They are typically structured as self-liquidating, so the loan is fully repaid by maturity.
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Construction Loans finance ground-up construction or major capital renovation of all major property types with terms of up to 3 years on a floating or fixed rate basis covering the period of active construction and lease up to stabilization. Typically, fully recourse until certificate of occupancy is realized, recourse can be limited to completion guarantee only based upon a lower leverage price point.
Mini-Perm Loans take over where construction loans end by extending the time frame where property owners can stabilize cash flow or realize higher rent levels through value-add strategies. Depending upon debt levels recourse can range from full to +/- 20% of the loan amount.
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Tailored for stabilized properties, Perm Loans provide long term interest rate protection in addition to “best pricing” because of the property’s lower risk “stabilized” underwriting profile. Depending upon the lending source, fixed interest rate terms can range from 3 years and as long as 25 years. If the property type and loan requirements fit Life Company underwriting parameters, then our clients can benefit from thinly priced non-recourse loans with no annual loan-to-value or debt coverage requirements.
Contact us.
Just starting a project or pushing to get a deal done? Either way, we need to talk. Give us a call at any of our offices or drop us a line below.
We’re ready to answer your questions and offer some new ideas.
Highlighted Transactions.
What People Are Saying.
"Without LD&A, Rhode Island’s first Hyatt Hotel would not have been built.”
"There is no one else we would want to work with."
"To us Larew Doyle are more than a broker, they are trusted financing advisor"
"Without LD&A, Rhode Island’s first Hyatt Hotel would not have been built.” "There is no one else we would want to work with." "To us Larew Doyle are more than a broker, they are trusted financing advisor"
A few of our institutional financial partners
