FLORIDA COMMERCIAL MORTGAGE LOANS

CONVENTIONAL LOANS:

Integra’s long-standing lender relationships provide non-recourse financing for the acquisition and refinance of multifamily, retail, hotel, office and industrial properties. We facilitate customized loan structures with low interest rates, longer amortization periods and flexibility. These financing options are designed for cash-flowing and stabilized investment properties in primary, secondary and tertiary markets.

Our capital sources for conventional mortgage financing include: commercial banks, Wall St. conduits (CMBS), life insurance companies and REIT’s. These loans feature fixed-rate 5, 7 and 10-year term loans and are accompanied by 25 or 30-year amortization schedule depending on the borrower’s financing objective. The maximum achievable Loan-to-Value (LTV) is 80%, generally offered for acquisitions, where fresh equity is being contributed by the sponsor at closing. The LTV associated with a refinance is typically capped at 75%. Integra’s strength in arranging creative debt structures has provided our clients the freedom of managing and growing their real estate portfolios.

BRIDGE FINANCING:

Integra originates short to medium term non-recourse bridge loans for the acquisition and recapitalization of existing properties. These loans are ideal for transitional, non-stabilized assets with a value-add component, or segments where a quick closing with certainty of execution is needed. Bridge loans are available for investors who are looking for certainty in rate, terms and flexibility while undergoing a transition. These transitions include renovation, recapitalization and the ramping up of the tenant occupancy levels.

Our experienced loan officers are committed to guiding you through every phase of the bridge loan process. These interim loans carry either a fixed or variable-rate structure and are generally priced over a certain LIBOR index. Terms range between 12-36 months with options to extend the loan beyond initial maturity date. Virtually all of the bridge loans arranged by Integra are interest-only and structured on non-recourse basis.

CONSTRUCTION LOANS:

When it comes to arranging flexible construction loans, we utilize our trusted network of construction lenders that provide speed, execution and certainty. Our relationship lender list is comprised of domestic and foreign banks, insurance companies, as well as commercial real estate debt funds that have the ability to offer non-recourse construction loans for experienced developers with a good track record. Having the right relationship in this arena is critical in getting your project off the ground in a timely manner and properly funded. Aside from the tenant roster and location of the project, sponsorship remains the single most important characteristic in construction financing.

By engaging Integra for your next ground-up development project, you will gain access to relationships that we have fostered through the years. Our team of experts will underwrite the economics of the construction budget and negotiate aggressively on your behalf to achieve a well-structured loan that is customized to your financing needs.

MEZZANINE FINANCING:

Integra Real Estate Capital arranges mezzanine financing for properties located in primary and secondary markets that feature strong demographics. These loans allow sponsors to go higher in the capital stack (LTV) and are also considered as subordinate financing to the senior debt. Mezzanine loans are generally ideal for opportunistic purchases to minimize the direct equity contribution that the sponsors would otherwise have to make. These transactions include property acquisitions, recapitalizations and Property Improvement Plan (PIP) for flagged hotel properties. It is typical for a mezzanine loan to be co-terminus with the senior debt. Pricing of these financing vehicles varies and is based on risk associated with the transaction. Our experienced team can navigate you through the mezzanine financing process and provide you with a customized solution for your next project.

DISCOUNTED PAY-OFF (DPO) FINANCING:

It is not uncommon for commercial real estate lenders to offer borrowers an opportunity to pay the lender off at a discount. This practice allows lenders to raise capital to reposition their balance sheet and also offset any regulatory pressure that may exist. It may also reduce exposure in certain real estate markets or help eliminate risk related to underwater real estate assets.

This mechanism is called Discounted Pay-Off.

As a leading commercial mortgage brokerage and advisory firm, Integra offers clients a network of lenders who can provide up to 90% financing of the agreed upon pay-off amount. These arrangements are generally offered to borrowers who can close on the new loan quickly. We understand that it can be challenging to find a new lender to provide the necessary capital to pay off a legacy lender, both because the discounted loan payoff opportunity is likely only available for a short period of time, and also because there is generally institutional reluctance among banks and conventional lenders to help fix what is viewed as a competitor’s problem.

Integra’s valuable lender relationships allow investors to close on new a loan with attractive terms and conditions while meeting the investors desired objectives. The discounted pay-off of the old loan simultaneously reduces the debt burden on borrowers and lowers the monthly payment, generating additional cash flow to the borrower who can reinvest in the growth and expansion of the real estate portfolio.

LAND LOANS:

Integra provides clients with entitled-land financing products directed to the acquisition and development of future commercial real estate projects. Our mortgage consultants are keenly aware of the challenges in securing competitive land loans and work diligently in navigating their clients in obtaining the right loan. We work with a broad array of regional and specialized lenders focused on this unique asset type to achieve the developers desired objective.

Securing the appropriate land loan is an essential step to ground-up development and we will continue to compete in this space to give our clients access to our capital sources. Feel free to share your land loan needs with one of our associates.