Medallion Funds has in-depth knowledge of local, regional, and nationwide network of lending partners you can trust. We understand construction financing well. We know that a quick closing means the difference between a profitable project which is built on time and under budget.
Medallion Funds Construction Financing specialists will provide you with all options in the capital stack, including and not limited to ground-up construction, land acquisition, land development, Bridge, and mezzanine financing. Whether your project is consist of a sub-division, commercial property, and or a multifamily apartments, we can help.
Construction mortgages we offer:
- Subdivision land loan
- Commercial & Residential new construction building projects
- Revolving loan facilities for new construction
- Fund control for new construction
- Revolving facilities for new construction
- Revolving facilities for builder inventory
- Renovations, conversions, and expansion financing for the changing uses of real estate
- Ground-up or construction completion and broken priority. Financing the acquisition is an option
- Acquisition financing may include asset repositioning
Other benefits which we offer:
- Customized draw process to meet the timely capital requirements of builders/borrowers
- structures of construction mortgages uniquely varying according to transaction requirements to meet the needs of our clients
- Flexible and custom-tailored construction mortgages to meet a builder’s/borrower’s specific construction loan requirements
Medallion Funds is an intermediary focused on commercial, residential lending subdivision opportunities. Our thirty years of construction financing experience and a solid track record allows us to partner with major institutional and private lenders nationwide to offer construction financing.
Typical properties which we support include the following:
- commercial buildings
- hotels and motels. Flagged or boutique
- new residential condominium construction
- retirement and nursing home facilities
- automotive dealerships
- Light industrial
- Leisure and recreational properties i.e., golf courses
- RV parks
- private schools
- condominium conversion projects
- storage facilities
General Terms and Guidelines
- Lending Footprint: Nationwide
- Loan Amounts: $2 to $50 million
- Term: 2 to 36 months
- Interest only. In certain cases, a more flexible financing such as a funding facility may be available. If the project is in a low-income community, fixed rate of financing may be available during the build-out
- Second Mortgages: Certain types of loans may require junior liens to facilitate first mortgages. Such combination of loans are subject to minimum and maximum balances
- Repayment: monthly unless an interest reserves are involved
- Rate: Mainly interest only. Market conditions and the marketplace will prevail
- LTC/LTV: 80%/65%.
- Appraisals: New appraisals are required. At times and project specific, an existing appraisal may be acceptable if it is not more than a year old.
- Recourse: May or may not be required
- Turnaround time: Once all the necessary documentation is obtained, our lenders can provide a Letter of Intent (“LOI”) within a few days
Medallion Funds has streamlined the process for Builders to start the process. Please contact our specialists to inquire about our simple process.