Loan products

Apartment loans (acquisition or refinance)

Perm loans are used for the purpose of buying or refinancing commercial real estate.  These are loans for stabalized properties such as multi-family, apartments, mixed-use, office, retail, medical or commercial buildings.  Typically, these loans will have fixed rate periods of 5 to 15 years with amortization periods of 20-25 years.  30 year products are available depending on property type, loan size and debt service coverage.

SBA 504 & 7a

SBA loans have recently gained in popularity for commercial properties, just as FHA loans have gained in popularity for residential properties.  As most banks tightened up on their lending standards, more borrowers are dependent on government supported products to finance their properties.  Excel Realty Capital has significant experience in providing SBA financing to our clients.  SBA loans are strictly for "owner occupied" properties, where the borrower will use at least 51% of the property for thier business.  SBA products offer attractive rates, more flexible underwriting guidelines, and reduced risk for the lender.

Hard money loans

Short-term financing used in connections with all types of transactions in need of a quick closing. Bridge loan financing, also known as "hard money" is utilized when timing is critical, and certainty of closing is imperative. The key considerations when underwriting a bridge loan are the strength and value of the collateral and the exit strategy (i.e., sale or refinance of the property). Bridge loans typically carry a higher than average rate, and generally mature in 12-24 months.  Underwriting is focused more on the property or collateral itself then the actual credit quality of the borrower.  Bridge loans are also sometimes referred to as hard money loans.

Medical office loans

Excel Realty Capital, Inc. is the leader in financing New York medical office space.  Through our vast network of lenders, and combined with our expertise in this niche, Excel is able to provide our medical professional clients with the best possible loan terms.  For existing medical practices, we are able to offer 100% financing for the purchase of office space.  For start up practices, 90% is available.  In addition to loans for real estate, we can offer lines of credit and term loans for build outs, equipment and working capital.  Call Scott Bonora today for more information at 212-601-2787.

Construction loans

Construction loans are short term financing products used for the development of new properties.  Construction loans were widely available until 2007 when the real estate market began to deteriorate and lenders pulled back on risk.  Today, construction loans are offered only to the strongest borrowers.  Borrowers must display development experience, at least 40% of their own funds in the project, and significant assets in reserve to qualify for a construction loan in the current market.

Rehab loans

A rehab or renovation loan is similar in nature to a construction loan, and usually involves financing for the specific purposes of upgrading or completing a property.  These loans can either be short term in nature, or can be offered as a short term loan with permanent financing that will take effect when the project is completed.  In the current market, borrowers must display experience, financinal strength, and a feasible project that will support the debt service when complete.

Lines of credit

Many companies require that they have access to funds that are immediately available for a variety of reasons, and at their discretion.  Business expansion, inventory, working capital and acquisition of assets are all examples that require the availability of immediate funds.  Excel Realty Capital works with established companies in securing working capital lines of credit.  The line works as a revolving loan, able to be drawn upon, paid down and drawn again continuously, so that it is always available when needed.  Depending on the financial strength of the company, rates can be as low as 30-day Libor + 75bps!  Call Scott at 212-601-2787 for information regarding our new Business Line of Credit up to $500,000.00