Spectra Lending
Dover, Delaware
Direct Short-Term Lending for Commercial Real Estate
Spectra Lending offers a diverse range of loan products tailored to meet the needs of borrowers in the commercial real estate sector. Our offerings include bridge loans, acquisition financing, tenant improvement projects, construction loans, and refinancing options. We also provide specialized financing for rescue capital, stalled project capital, mid-construction lending, and bridge & gap lending. As a balance sheet lender, we pride ourselves on agility and the ability to deploy capital swiftly, which turns opportunities into realities for our clients. Our underwriting process values human intuition over algorithms, ensuring that each project is evaluated beyond mere quantitative data. Additionally, Spectra Lending excels in rapid closures, making us the ideal partner for timely and complex deals.
- Lending in 35 states, plus Puerto Rico and the Virgin Islands
- Lending for almost all types of Commercial Real Estate (NO office or places of worship)
- Interest Rate: 2.5% per month, no prepayment penalty
- Loan term up to 12 months
- Loan-to-Value up to 75% for improved property
- Land Loans up to 60% LTV
- Cannabis-Use Properties
- Agricultural Properties
- Rehab Value-Add Loans
- Ground-Up Construction Loans
Please note: We do NOT lend on office buildings and places of worship (churches, temples, etc.).
Property Geographic Area Details
Loan Amounts
Loan Terms
Origination Fees
Lien Position
Maximum Leverage
Purchase Short-Term (no Value-Add)
Refinance Short-Term (no Cash Out)
Refinance & Cash Out Short-Term
Multifamily Value-Add
Commercial Value-Add
Multifamily Construction
Commercial Construction
Property Types
- 2-4 Units Residential
- Adult Day Care
- Agricultural
- Assisted Living Facility
- Auto Dealership
- Auto Repair
- Bed and Breakfast
- Cannabis Dispensary
- Cannabis Grow Facility
- Car Wash
- Casino
- Child Day Care
- Cinema
- Club
- Commercial Condominium
- Commercial Land
- Community Center
- Condominium
- Cooperative
- Covered Land
- Equestrian
- Event Center
- Gas Station
- Golf Course
- Gym
- Healthcare
- Hospital
- Hostel
- Hotel
- Industrial
- Marina
- Mixed-Use
- Mobile Home Park
- Motel
- Multifamily
- Night Club
- Parking Garage
- Parking Lot
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- RV Park
- Ranch
- Recreational
- Rehabilitation Facility
- Residential Land
- Retail
- School
- Senior Housing
- Single Family Residence
- Sports Facility
- Storage Facility
- Student Housing
- Theater
- Timberland
- Vehicle Parking
- Winery
Loan Types
- Multifamily Bridge
- Multifamily Rehab
- Multifamily Ground-Up Construction
- Commercial Bridge
- Commercial Property Value Add
- Commercial Ground-Up Construction
Specialty Loan Types
- Bankruptcy Resolution
- Cannabis Use Properties
- Condo Conversion
- Discounted Note Payoff
- Foreclosure Bailout
- Land Development
- Line of Credit Portfolio of Properties
- Line of Credit Single Property
- Luxury Homes
- Note Purchase
- Partner Buyout
- Residential Long-Term Rental
- Residential Short-Term Rental
- Subdivisions
- Vacation Rental
Agribusiness Types
- Cattle Ranch
- Cannabis
- Citrus Grove
- Corn
- Cotton
- Dairy
- Equestrian
- Melons
- Peach
- Peanuts
- Potatoes
- Poultry
- Row Crops
- Swine
- Tree Nuts
- Vegetables
Will Consider Cannabis Use Properties
yesMaximum LTV for Cannabis Use Properties
75%Cannabis Property Use Type
- Cultivation
- Retail Dispensary
- Retail Sales
- Manufacturing
- Processing
- Production
Description
Land must be entitled.
Land Types Considered
- Residential Land
- Multifamily Land
- Industrial Land
- Retail Land
- Hospitality Land
- Agricultural Land
- Special Purpose Land
- Cannabis Use Land
- Covered Land
Will Consider Land That is NOT Entitled
noMax LTV for Land
60%Max LTC for Land Acquisition
60%Max Loan-to-Purchase Price
75%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Subject Property
- Equity in Another Investment Property
- Seller Financing
- Family
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
1Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
5Maximum After Repair Value
75%Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
2Max LTC for Ground-Up Construction Costs
75%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
yesDue Diligence Fee
$2,000 to $10,000 depending on the deal type, property type and loan amount.
Fees which are mandatory for all new borrower clients
- Legal Fee
- Extension Fee
Fees which are paid to a third party company
- Appraisal Fee
- Environmental Report Fee
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Spectra Lending is a dynamic leader in the commercial real estate lending industry, standing out due to its tailored financial solutions designed to meet the needs of complex, challenging situations. Our commitment to excellence is reflected in our ability to offer bespoke financing solutions beyond traditional lending. With a focus on acquisitions, refinancing, or repositioning of assets, Spectra Lending serves as a strategic partner in the growth of its clients. Our seasoned professionals work closely with each client, ensuring agility, speed, and an unwavering commitment to service excellence.
Office Locations
896 South State Street, Unit 513, Dover, Delaware 19901Our Team
John Brakatselos
Managing Director, Lending
Landon Hutchison
Loan Officer
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