- What are your typical fees?
- How long have you been in the business?
- What are terms and rates for my loan?
- How long does it take to close a loan from start to finish?
- What type of services do you offer related to equity and structured finance?
- What do we need to provide to Harborview in order for you to source an equity partner for us?
- Is it possible to get a non-recourse loan?
- What is the lowest rate out in the market?
- What separates you from your competition?
- I’ve heard a lot on how long a HUD deal takes to get done. How long does it really take?
- Will an interest only period be available for my deal and if so for how long?
- How do I get higher leverage on my transaction?
Our fees are market-based and we have never lost a deal based on fees. We offer transparency and clarity in all aspects of your transactions from start to finish, including all fees. Many of our clients comment to us that their savings from reduced rates, cash-out to investors or better leverage utilization far exceeds any deal costs. Please contact us to find out more.x
Harborview was formed in April of 2013 by Ephraim and Jonathan and several other mortgage industry professionals. Ephraim and Jonathan have an extensive history in the commercial real estate business and with HUD. Please check out their personal bios. We look forward to showing how our experience can work for you.x
It depends on the type of loan. Loans typically close 45-60 days with the exception of a HUD execution.x
Through our extensive relationships and proprietary balance sheet program, our equity platform can provide and/or source both preferred and joint venture equity as well as mezzanine financing, depending on your deal’s specific needs. If your transaction does not fit the investment criteria for us to invest in a principal capacity, we also have a broad array of investor relationships ranging from high-net worth individuals and family offices to Real Estate Private Equity Funds and REITS. Therefore, after sizing your deal and running it through our proprietary underwriting models, we evaluate your needs and designate a targeted list of equity providers with the goal of maximizing the economics of your transaction. Our goal is to provide you with seamless execution while receiving the lowest blended cost of funds on an overall cap stack basis.x
Harborview will be most effective in obtaining a great partner for your deal if you initially provide us with some basic information. This includes a clear, concise, overview and description of the deal itself as well as a resume, background and completed deal information on the sponsor. Also, provide an underwriting model showing current and proposed financials along with equity splits and returns. We have many partners, large and small, with different appetites, target markets, and return profiles who are eager to see new deals from quality sponsors. Please contact us to learn more.x
Yes. It depends on the type of loan. HUD, Fannie Mae, Freddie Mac, CMBS and LifeCo are all non-recourse loans. There are banks that may offer non-recourse in some cases. Please see our term sheets for more specific terms.x
That’s a good question. It depends on the product and term. However, we have secured a Libor + 155 rate on a portfolio refinance on a 5 year term.x
Harborview is a true one-stop shop for all commercial real estate capital. Our wide variety of debt, equity, and advisory products and services truly separate us from the competition. Our proprietary mezzanine financing platform enables us to provide completely customized financing solutions to our clients.x
Well, that depends on a few variables, here are two of them: First, it matters what kind of deal you are doing. If it is an A7 refinance, either MAP or LEAN, figure on 2 to 4 months including all processing by the Lender and the HUD office, as well as the closing process, which is coordinated by the Lender and Borrower, Lender and HUD counsel. If it is a healthcare refinance into HUD, or LEAN 232(F) deal, add about a month due to the complexity of the diligence, underwriting, and third parties. A multifamily MAP 223(F) deal is a bit simpler and can have similar timing to an A7. Second, the timing does get affected by HUD and their contractors' workload, which varies by office and season. Either way, choose a competent lender with a good relationship with HUD to reduce processing and make the process work faster and easier. Contact your Harborview representative for a discussion on the timing for your particular deal, and don’t forget to ask about early rate lock options if that makes sense for your timing.x
Interest only is typically given in new construction and substantial rehabilitation projects as a matter of course, to reduce the debt repayment burden on the borrower while they are earning little to no income. The same can be had on transactions that are value-add, turn-around or in a repositioning if the need is demonstrated to the Lender. Generally, the term from a bank would be between 6 and 24 months and proportionate to the need. CMBS lenders will also structure interest only periods in certain cases, for 2,3,5 or even 7 years or longer, if the projects have a particularly strong credit profile. There are other scenarios where the lender may lend into an Interest Rate Reserve (IRR), which can benefit the short term cash flow. Please see our termsheets for more specific terms. Contact a Harborview representative about your particular situation for more detail.x
Depends on the asset class and industry, but HUD loans offer higher leverage in general, and Mezzanine options for an additional 5-20% leverage points can be had from our Harborview Funding Balance Sheet product and our relationship lenders for most asset classes and transaction sizes. For smaller deals (under a $10M Mezz check), be prepared for recourse on the loan. Please contact us to learn about the options for your deal, we always add a creative layer to the structuring to benefit your specific situation, and help factor in other considerations with leverage, like rate and terms to craft the best loan for your needs.x