National Capital, LLC

Creative Financing for Innovative Ideas

Fixed Rate

Industrial Program

 

Property Type – Industrial, Warehouse, R&D / Flex, and Distribution Facilities

 

Loan Size - $5,000,000 or greater

 

Security – First mortgage on the Fee Simple Interest.  Leaseholds will be considered on a case by case basis.

 

Loan Terms – 5, 7, 10, 15, or 20 years

 

Amortization – Up to 30 year amortization*

 

Interest Only – Interest only periods available, including full term interest only.

 

Debt Service Coverage Ratio – Minimum DCSR 1.25x

 

Borrower – Generally, must be a bankruptcy remote, single purpose entity.  Non-recourse to Borrower and Key Principals except for standard carve-outs including fraud, misapplication of funds, environmental and voluntary bankruptcy.

 

Maximum Loan to Value – 80%

 

Loan Escrows – Taxes and Insurance, Tenant Improvements and Leasing Commissions, and Replacement Reserves for Capital Expenditures.

 

Reserves at Closing – The Borrower shall establish a deferred maintenance reserve account at closing equal to 125% of required deferred maintenance repairs.

 

 

 

*Longer term amortization available on an exceptional basis.