Mortgage Brokers Expand Your Business With Our Build-To-Suit, Bridge and Mezz Construction Programs

CRE BRIDGE LOAN PROGRAM $1,000,000 – $50,000,000

New Era Capital’s Bridge Loan Program provides attractive financing solutions to execute a short-term strategy

PROPERTY TYPES

Retail, Office, Multi-Family, Hospitality, Industrial, Self-Storage, Special Use

Property Geographic Area Details

Nationwide except AK, CA MN, MO, ND, SD, VT, WY

Loan Amounts

$1,000,000 to $50,000,000

Interest Rates

4.50% to 11%

Max Loan-To-Value

80%

Max Loan-To-Cost

100%

Origination Fees

1% to 2%

Loan Terms

12 months to 60 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property
  • Commercial Property Ground Lease

Property Types

  • 2-4 Units Residential
  • Assisted Living Facility
  • Car Wash
  • Child Day Care
  • Commercial Condominium
  • Condominium
  • Gas Station
  • Gym
  • Healthcare
  • Hotel
  • Industrial
  • Mixed-Use
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Retail
  • School
  • Senior Housing
  • Single Family Residence
  • Storage Facility
  • Student Housing

Loan Types

  • Commercial Bridge
  • Commercial Property Value Add
  • Commercial Ground-Up Construction

Specialty Loan Types

  • Partner Buyout
  • PACE - Property Assessed Clean Energy
  • Commercial Permanent Financing

Purchase Loan

Max Loan-To-Purchase Price

90%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Seller Financing
  • Gap Lender
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

2

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

7

Maximum After Repair Value

80.00%

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

4

Max LTC for Ground-Up Construction Costs

100%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Details and Requirements

Typical Closing Time (Days)

60

Fastest Closing Time (Days)

10

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Interest Reserve

Pre Payment Penalty

yes

Typically Minimum Interest 12 months

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

yes

Borrower Entity Types Considered

  • LLC
  • Limited Partnership
  • Corporation
  • Non-Profit Corporation

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Sometimes
Primarily Non Recourse with bad boy carve outs. If personal guarantee is required each person of 20% or more must sign guarantee

Credit Check Required

yes

Minimum Credit Score Required

575

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Site Visit Fee

$0 to $0

Due Diligence Fee

$0 to $0

Once term sheet is agreed to and executed we would require a due diligence deposit.

Underwriting Fee

$2,500.00 to $15,000.00

Depending size and scope of loan request a underwriting fee is required and is part of the due diligence deposit

Processing Fee

Extension Fee

1% for each 6 months. Negotiable

Exit Fee

0-1% negotiable

Appraisal Fee

$3,500 - $8,000 depending property type

Fees which are mandatory for all new borrower clients

  • Due Diligence Fee
  • Site Visit Fee
  • Underwriting Fee
  • Processing Fee
  • Legal Fee
  • Funding Fee
  • Appraisal Fee
  • Inspection Fee
  • Credit Report Fee
  • Background Check Fee
  • Exit Fee
  • Environmental Report Fee
  • Renovation or Construction Funds Draw Fee

Fees which are charged upfront prior to loan closing

  • Due Diligence Fee
  • Site Visit Fee
  • Underwriting Fee
  • Processing Fee
  • Legal Fee
  • Appraisal Fee
  • Title Fee
  • Credit Report Fee
  • Environmental Report Fee

Fees which are paid to a third party company

  • Site Visit Fee
  • Legal Fee
  • Appraisal Fee
  • Inspection Fee
  • Title Fee
  • Credit Report Fee
  • Exit Fee
  • Environmental Report Fee

Build To Suit

  • Lending Nationwide (except AK, CA MN, MO, ND, SD, VT, WY)
  • Loan Amounts: $1,000,000 to $50,000,000
  • Property Types: Single or Multi Tenant Net Lease (Retail, QSR, Office, Industrial, Car Wash, C-Store, Special Use)
  • LTC: Up to 95% budget
  • LTV: Maximum of 75%
  • Loan Term: 12 to 36 months, with up to four 6 month options.
  • Recourse: Non-Recourse (except standard bad boy carve outs)

Bridge

  • Lending Nationwide (except AK, CA MN, MO, ND, SD, VT, WY)
  • Loan Amounts: $1,000,000 to $50,000,000
  • Property Types: Retail, Office, Industrial, Self-Storage, Multifamily, Mixed-Use, Hospitality
  • LTC: Up to 80% budget
  • LTV: Maximum of 75%
  • Loan Term: 12 to 36 months, with up to four 6 month options.
  • Recourse: Non-Recourse (except standard bad boy carve outs)
  • Dark buildings are okay, subject to strength of sponsor and the transaction.

Ground Up New Construction

  • Lending Nationwide (except AK, CA MN, MO, ND, SD, VT, WY)
  • Loan Amounts: $250,000 to $10,000,000
  • Property Types: Single-family, Multi-Family, Townhomes, Condos
  • LTC: 70% of Land / 100% of Construction Cost (Up to 85% blended LTC)
  • LTV: Maximum of 65%
  • Loan Term: 12 to 24 months
  • Spec Development Allowed

C-PACE 

  • 100% financing: no capital expenditure or upfront costs to owners for the improvement
  • Project Size: $1,000,000 to $50,000,000
  • DSCR Requirement: 1.15x-1.20x On Underwritten Stabilized Net Cash Flow For Properties. Appraisal And Financials Required
  • Terms: 5 to 30 Years, Fixed Rate, Fully Amortizing, With No Guarantees Or Covenants Required
  • Eligible Property TypesOffice, Retail, Multifamily, Light Industrial/Warehouse, Hospitality, Mixed-Use
  • Eligible Improvements: Energy Efficiency, Renewable Energy, Water Conservation, Seismic Retrofits, Risk Mitigation, and Some Other Improvements
  • Occupancy Type:Stabilized, Transitional. Or Ground Up Construction. Previously Completed Construction May Be Eligible
  • Eligible States: Nationwide And Continually Growing. Contact Us To See If Your In An Active C-PACE Jurisdiction
  • Non-Recourse: With No Technical Default Provisions

Mezzanine Construction – Coming In February 2020

Blu Roc Capital is a seasoned real estate firm providing private and institutional capital to real estate investors, developers and business owners on a nationwide basis. From ground up construction to permanent low fixed rate programs equipment financing, we can provide capital for a wide range of projects. Borrowers come to us from all over the United States because of our unique, solution driven approach to complex deals.

The management team of BluRoc Capital has decades of experience in commercial mortgage origination and underwriting. Within our various businesses we have team members with experience in Commercial Real Estate Brokering, Commercial Real Estate Development, Management, Construction and Construction Management.

Our business has been built on supporting brokers and developers and that will continue to be our top priority. The one thing that separates us from our competitors is the effort we put into partnering with our brokers and developers.

Company Size (Number of Employees)

8

Year Established

2016

Associations

  • ICSC - Lender

Office Locations

New Era Capital
705 Center Street, Lewiston, NY 14092

Primary Capital Source

  • Own Funds
  • Individual Investors
  • Other Private Lending Companies
  • Private Equity Funds

Alternative Capital Sources

  • Other Private Lending Companies

Loan Structure for Majority of Loans

  • Own Balance Sheet
  • Table Funding with Capital Partner
  • Multiple Lender Participation
  • A/B Note Participation with Bank

Percentage of company’s lending business focused on private mortgage

75%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Commercial Mortgage Brokerage
  • Commercial Mortgage Banking
  • Residential Mortgage Banking
  • Business Finance
  • Commercial Real Estate Investing
  • Residential Real Estate Investing
  • Real Estate Development

Percentage of Loans Secured by Commercial Property

50%

Percentage of Loans Secured by Residential Property

50%

Percentage of Residential Property Loans Which are Fix and Flip

65%

Percentage of Residential Property Loans Which are Buy and Hold

35%

Percentage of Loans Secured by a Business (not real estate)

25%

Percentage of Commercial Property Loans Which are Ground-Up Construction

30%

Percentage of Residential Property Loans Which are Ground-Up Construction

25%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

15%

Total Number of Loans Funded to Date

260

Total Loan Volume Funded to Date

$500,000,000

2017 Number of Loans Funded

38

2017 Loan Volume Funded

$97,280,000

2018 Number of Loans Funded

52

2018 Loan Volume Funded

$133,120,000

Dan Vecchies

President

Dan has been in the real estate lending, brokerage and development industry for 40 years. In the early 80's and 90' as a direct hard money lender. And prior to forming New Era Capital Dan was owner of a small balance commercial and residential lending company funding over $1.5 billion in commercial and investor loans.

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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