Condo Conversion
| Amount: | $1,500,000 |
|---|---|
| Property Type: | Apartments |
| Loan Type: | Floating, Interest Only |
| Loan Term: | 3 year term |
|
Caffrey & Company LLC has arranged a $1.5 million condo conversion loan. This loan as structured on a floating rate basis with 3-years interest only. The lender will finance seller carry back loans to facilitate unit sales. |
Current Rates (09/03/2010)
- Apartments 4.55%
- Mobile Home Park 4.75%
- Anchored Retail 5.65%
- Non-Anchored Center 5.85%
- Single Tenant Retail 5.80%
- Office 5.85%
- Industrial / Flex 5.92%
- Self-Storage 6.15%
- Medical Office 5.15%
- Hotel 6.65%
- Owner Occupied 4.65%
- Land 8.65%
- Other 6.40%
Rates are based on a $2 million loan, 25 year amortization, 10 year fixed rate term. For apartment complexes, a 30 year amortization is available.