| What: | Industrial Development Bond Financing. | |||
| Purpose: | Finance the acquisition, construction, expansion or refinancing of Manufacturing, Warehouse or Distribution, 501-c-3 facilities and certain other Commercial projects. | |||
| Project Size: | Manufacturing 501-c-3: | $2,500,000 - $20,000,000 | ||
| Distribution, Commercial and Refinancing: | $4,000,000 and up | |||
| Interest Rates: | Variable | 10 Year Fixed | ||
| Manufacturing 501-c-3 | 1.75% | 3.5% | ||
| (For High Rated Credits) | Distribution, Commercial and Refinancing | 2.25% | 4.5% | |
|
|
||||
| Term: | 5 to 10 years initial term, with renewals up to 20 to 25 years | |||
| Amortization: | Up to 25 years | |||
| Criteria: | Standard loan underwriting criteria | |||
| 75 to 85% Loan to Value 1.25 Debt Service Coverage Last 3 years of profitability for user/tenant |
||||
| IDB Closing Costs: | 3 to 4% (Majority of costs can be financed through the IDB) | |||
| Timing: | 90 to 120 days to IDB funding. Bridge financing can be arranged to accommodate real estate closing timetables where needed. | |||
| Additional Benefits: | IDB's provide construction and permanent financing; and IDB projects are also exempt from Doc Stamps and Intangible Taxes. | |||
This financing program is offered in collaboration with a Financial Advisory firm specializing exclusively in Industrial Development Bond Financing for Commercial and Industrial projects. They have completed over $500 million in low interest rate (fixed or variable), construction and permanent financing for over 100 projects throughout the Florida market.
Additional Financing Services:
Loan placements in order of lender preferences are:
- Credit Tenant Leased (CTL) properties with BBB- ratings or higher; proposed or existing. Advance funding available for Build to Suit’s.
- Health Care properties including Medical Office, Multi-family, Senior Housing, Assisted Living Facilities, Retirement and Independent Living; proposed or existing.
- Conventional properties for Retail, Office Warehouse, Industrial, Flex Buildings, Self-Storage and Hospitality; proposed or existing.
- Structured Finance programs for Distressed Assets, Loan Payoffs, Buyouts, Acquisitions and Property Refinancing.
- Joint Venture and Equity transactions arranged institutionally and privately.
- All other loan requests handled on a case basis.
CMA lending relationships include banks, credit unions, CMBS lenders, life insurance companies, pension funds, Credit Tenant Lease (CTL) lenders, FHA/FannieMae/FreddieMac lenders, Structured Finance lenders, SBA/USDA lenders, IDB lenders and investment bankers.
| Contact: | ||
| David J. Patten, CMB | david@cmacapital.com | (407) 808-7273 |
| Thomas A. Byers | tom@cmacapital.com | (407) 616-6841 |
| Clete Bernhardt, MSRE | clete@cmacapital.com | (407) 489-1741 |
A more comprehensive summary is available upon request