COMMERCIAL REAL ESTATE OPPORTUNITIES “TO BE BUILT” AND REO AND NON-PERFORMING LOANS”.
In today’s commercial real estate market (apartments, retail, offices, industrial, hotels), there are problems which present opportunities. As a commercial real estate mortgage banker with over 32 years experience as a Senior Executive with the nations largest commercial real estate lenders (Arcs, GMACC, Wachovia, etc), I am using my experience and contacts to take advantage of these opportunities for a few qualified clients. These opportunities consist of the following.
I. Providing multifamily loan originations using the FHA 221d4 program which provides a non-recourse "construction and permanent loan" program, with no rent constraints and 90% of costs financing. With the availability of conventional Bank financing being very difficult to find, and if found requiring more equity and financial strength, we are using our correspondent relationships to provide this excellent financing. In some cases we can also assist in providing the needed equity.
We are also using our financing relationships to provide the FHA 223f program for properties that need financing now that the older Conduit, FannieMae and FreddieMac loans are coming out of expensive prepayment penalties OR for acquisition or renovation or refinancing.
There ARE some Conduit or portfolio lenders still in business, which we have valued relationships with that we use for our clients.
II. We are also licensed Real Estate Brokers, and as such we locate and qualify multifamily sites and properties for our developers as a buyers broker (we are a certified ACR, Accredited Buyers Representative) and sellers broker. In this function we provide preliminary market, cost and operational analysis. Often the seller may find it advantageous to become part of the developing entity to every ones benefit. This analysis also helps determine the investor’s required equity thus further qualifying the project.
We specialize in multifamily investments, thus market information, costs of development, operational costs and multifamily contacts are at our finger tips.
III. Due to our extensive experience in the above functions, we have developed relationships with Appraisers, Market Study contractors, Environmental, Architect, Engineers, Contractors and related entities that can expedite a Developers consideration and execution of his project. We have “merchant builders” that can take a project from conception to consummation thus allowing developers of all types, including land owners, to participate in today’s opportunities. Existing, stabilized properties are in high demand so the ability to develop a property and have it available for purchase upon completion or even in some cases at conception, provides an excellent opportunity.
IV. Due to our experience in this field we also have direct access to commercial real estate REO’s (real estate owned) by institutions that would like to sell these assets and in some cases the notes themselves. These opportunities are restricted to purchasing entities that can prove their genuine interest and proof of funds needed for a fast transaction. The purchasers purchase criteria are extremely important to have access to these properties. These commercial properties may be available individually or in portfolios of $5 million to $1 billion. Single Family REO’s and Non-Performing Notes are also available.
V. Our functions in this field expose us to various development situations that may be open for an investor to step in and complete or invest in a property that is stressed due to non-operational or operational reasons. Again, the ability of the potential purchaser to prove up their operational, management and financial capabilities are needed. These opportunities come to us from developers, lenders, contractors, etc.
We welcome any inquires regarding the above functions from qualified entities. The problems in the industry do allow for opportunities for those positioned and qualified to do so. Due to the confidential and often fiduciary relationships involved, an early agreement for all parties to provide a non-circumvent and non-disclosure agreement must be obtained. Potential purchasers must also provide full disclosure of their capabilities.
We look forward to working with you and providing the quality of real estate services you deserve.
