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Maritime offers land loans and financing programs for residential or commercial developments.
Land loan sizes can range from $3M to $1B on properties nationwide; at almost any stage of the entitlement process, for transactions involving:
- Acquisition & Development
- Development, only (land development loan)
- Refinance
- Purchase
- High Leverage Financing
- Participating Debt
- Hard Money/Fast Funded Loans
- Joint Ventures
- Development Agreements
Terms vary widely for land loans and can only be quoted after a complete understanding of the project.
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| Loan Programs
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Fixed Rate Bank Financing Program:
75% of MAI Appraised Value
Low Interest Rate
3 year Term, maximum
15%+ Cash Equity Normally Required
Must have Exit Strategy in place
Nationwide
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Pension Fund Financing Program:
3 Year Loan Term or Longer
Un-entitled Land
Loan Based on "Finished" Value
Can Be Lender, JV Partner or Buyer
Nationwide
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Life Insurance Company Financing Program:
75% of MAI Appraised Value
65% of Future "Bulk Sale" Value
1 - 3 Year Loan Terms
Commercial Uses Only
Rates Starting at 9%
Recourse Required
Nationwide
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Bank A&D Loan Program:
UP to 75% of Costs
Lot Development Financing Available
Developed Lot Inventory Loans up to 75% of Sale Price
Nationwide
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Private Lender Loan Program:
65% of MAI Appraised Value
Non-Recourse Available
Cash Out Possible
Nationwide
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| Equity
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Equity capital can represent the most critical and difficult component of any real estate transaction. Maritime specializes in identifying the most suitable capital alternatives for any real estate acquisition or recapitalization.
Eligible Properties:
Acquisitions
Acquisition & Development
Development, only (land development loan)
Lot Sales Programs
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Eligible Property Locations :
Nationwide. Preferably Markets with strong market fundamentals in place. Will consider properties in secondary markets on a case-by-case basis.
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Deal Size:
$5 - $1B total cap up to 95% total leverage. Larger transactions evaluated on a case by case basis.
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Investment Amounts:
Maritime can provide funding up to 95% of the required equity amount with strong borrower and market dynamics.
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Rates:
Depending upon project dynamics, sponsor suitability and deal structure mezzanine debt will range from 9% to 18 % with profit participation at higher leverage levels. Equity will range from 20% to 80% including profit participation.
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Holding Periods:
1 – 7 years based upon deal structure.
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Fees:
On certain projects we may require a Good Faith Deposit plus Third Party Costs for appraisal, engineering, legal, environmental, etc.: $10,000- $40,000. Some fees/costs may be shared/offset by senior loan.
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Other:
Maritime can also provide construction and mini-perm, or forward commitments for your development projects.
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