Owner Occupied Commercial Real Estate Loans
Loans for owner occupied commercial real estate. Terms up to 10 years for acquisition, refinancing or expansion. Loans available for most property types. Special underwriting conditions may apply to some special purpose properties. Flexible loan terms, amortization, fixed or floating rate pricing available.
Term Commercial Real Estate Loans
Acquisition or refinance of all major property types. Loan size $2 million to $20 million and loan terms up to 10 years (in special circumstances up to 15 years). Interest rates are floating or fixed with LTV up to 75% maximum. Debt service coverage is 1.25x minimum with no prepayment penalties. Up to 30 year amortization available on newer multi-family properties.
Bridge Loans / Mini-Perm Loans
For small to mid-market real estate firms, PBS provides funds for lease-up costs and asset repositioning. We offer 3-5 year loan terms with recourse in most structures, however, with no prepayment penalties, allowing the flexibility to execute the client’s business plan for medium-term time horizons. We keep all loans on our balance sheet and service them in-house.
Construction, Tenant Improvement, Renovation Loans and Mini Perm Loans
New construction, acquisition and rehabilitation of all major property types, loan size $2 million to $20 million. Loan terms range from 2-10 years (construction only or construction/perm combo). Floating or fixed-rate, construction/perm loans available. Maximum LTV 75%, maximum LTC 75%, minimum debt service coverage 1.25x. Full or partial recourse and completion guarantees required.
SBA 504 and USDA Loans
SBA 504 and USDA Guaranteed loans are used to finance the purchase or construction of owner-occupied commercial real estate properties for terms up to 10 years with as little as 10% down payment. We have relationships with a number of CDC’s in the mid-Atlantic market and work hand-in-hand with them to assure prompt execution.
Hotel Loans
Construction, acquisition or refinancing of hotel properties with experienced sponsors and usually nationally branded hotel operators. Short term construction loan can be combined with term debt at stabilization and satisfied occupancy parameters. Debt service coverage minimum 1.35x on the term portion, maximum LTV 70%.
Land Acquisition and Development loans
These loans are for real estate firms looking for short term vehicles to finance the acquisition of land for commercial or multi-family residential development. Special underwriting conditions may apply. Loans are usually full recourse. Loans offered $2 million to $20 million, fixed or floating rates, no pre-payment penalty for maximum construction take-out possibilities, strong sponsorship and development capability essential.