MasterPlan Capital Introduces New Commercial Mortgage Product

Posted by Orb Staff on November 21, 2008 No Comments
Categories : Commercial Mortgage

Commercial real estate investment banking firm MasterPlan Capital LLC has rolled out a new commercial mortgage loan product for investors seeking to purchase or refinance apartment and office buildings.

The new offering is an adjustable-rate commercial mortgage with the rate fixed for three years. The mortgage will be amortized over 25 years and due in 10 years. The rate will adjust every three years based on a margin over an established index.

The loan will also carry a three-year declining prepayment fee that starts at 3% and decreases by 1% each year. The program will feature loan-to-value ratios of up to 75% and will be offered against stabilized income-producing properties only. Loans will be made for purchases as well as for refinances. The new loan facility is not appropriate for land loans, construction loans or property rehabilitation loans, the company says.

Source: MasterPlan Capital

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