Passavant Retirement Community Expansion Pittsburgh Area

Loan Details

  • Lesser of: 90% Loan-to-Cost or 85% SNF or 75% ALF, of Value
  • Interest-only construction loan that automatically converts to 40-year permanent financing
  • 40 Year Amortization
  • 40 Year Term (no balloon)
  • No maximum loan amount
  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
  • No personal liability (non-recourse)
  • Negotiable pre-payment terms
  • 1:45 Minimum Debt Service Coverage
  • This loan is always assumable
  • Third-party expenses and loan costs are financeable