CAPITAL AND MORE GROUP INC.
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"Flexible Commercial Finance"
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Residential Land Acquisition & Development
Capital And More Group Inc. works with some of the nation's best private and non bank lenders in Residential Land Acquisition & Development Financing as well as Vertical Construction of residential projects.
We can arrange financing for Residential "For Sale" Single Family Detached housing projects, Single Family Attached Housing projects, Condominiums, Condo Conversions, Multi Family (town homes and middle to high end apartments) and Master Planned Community projects with mixed use elements such as retail and variations of housing product types and amenities such as club houses, golf courses, marinas, walking and biking trails etc.
The loan amount ranges from $10,000,000.00 to $100,000,000.00 plus.
We can arrange financing that entails one or more of the following aspects depending on the transaction:
 Financing the acquisition of the land.Financing the entitlement process directly or indirectly (we will consider on a selective basis land projects that are un-entitled or that are partially through the entitlement process).Financing horizontal construction. This includes the various aspects pertaining to the infrastructure construction on the land e.g. roads, sewers, etc. and can be structured to take the project all the way up to finished lots which can be offered for sale to builders or potential home owners. Most of our lenders on residential land development projects prefer to only take a project through the horizontal construction phase and will not proceed on to the vertical construction phase.Financing vertical construction. We have lenders that will finance the vertical construction phase which covers the ground up construction of "For Sale" Single Family Detached Housing, Single Family Attached Housing, Condominiums, Condo Conversions, Multi Family (town homes and middle to high end apartments) and Master Planned Community Projects with various elements as previously discussed.The main advantage we offer borrowers is that the vast majority of our lenders are direct portfolio lenders. This means that they originate loans directly with their own funds or with discretionary funds committed to them by investors and hold them in their portfolio or on their balance sheet until maturity. They do not securitize the loans and sell them in the secondary market. This provides for maximum flexibility in customized deal structuring that is impossible with conventional lenders whose loans have to fit within a predefined box that will allow for their subsequent securitization and sale. We also have several direct portfolio lenders that can accommodate loans in excess of $50,000,000.00 without the need to syndicate.
Our preferred product is land that is entitled and approved (or that is currently in that process and making significant progress) for Single Family Detached Home Developments in a Sub Division or a Master Planned Community with mixed use elements targeted at entry level and/or move up buyers. As indicated, we will consider un-entitled land on a selective basis. We arrange financing for developers/ builders. We do not arrange consumer loans or financing for the end user/ owner occupants of the homes.
Financing options include debt, participating debt, mezzanine debt, high leverage debt, equity, preferred equity and joint ventures.
Generally, the Loan to Value (LTV) or Loan to Cost (LTC) for Residential Land Acquisition and Development transactions with Debt Financing only and no profit participation is usually calculated as the lesser of 50%-65% LTV of the future or improved value OR 65%-80% LTC as a First Mortgage. Some Debt Financing only and no profit participation options can raise the Loan to Cost to 85%-90%LTC as a First Mortgage. Another way to raise the LTC to the 85%-90%LTC (or up to 95%LTC in some cases) range as Debt Financing only with no profit participation would be to put a Mezzanine Loan behind the First Mortgage or to use Equity or Preferred equity (Equity and Preferred Equity options will usually require profit participation). Joint Ventures which can result in 90%LTC to 100%LTC financing will usually require profit participation.
Loan structures may be up to 5 years, short term/ bridge loans (1 to 3 years) or hard money loans (1 to 3 years).
Quick closings are possible and can be done as fast as is necessary or possible (usually within 30 days or less) as long as all the paper work, legal work and title work is in order, third party reports required and ordered for the transaction are not delayed and there are no unusual issues present.
Please visit our "Contact Us" page by clicking on the link above, where under the heading "Compatibility Test", you will find an extended discussion of how we work, our fee and the general terms and rates available from most of our lenders' for our various financing programs.
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Copyright© 2003-2007 Capital And More Group Inc. All Rights Reserved
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