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First Mortgage Loan Program for Asset Based Borrowers
We are pleased to announce a new first mortgage loan program for customers and borrowers of asset based lenders. In conjunction with our affiliate, Atlas Partners Mortgage Investors, LLC, Atlas Partners is now able to provide, as a direct lender, real estate loans with the following characteristics:
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| Loan to Value: |
60-65%
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| Interest Rate: |
L+600 bp, interest only, 4% LIBOR floor
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| Term: |
3 years or less
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| Origination Fee: |
2 points
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| Collateral: |
(a) First lien on owned real estate, with emphasis on industrial and retail properties, with secondary interest in office buildings. No hospitality, housing or medical facilities will be considered.
(b) Major metropolitan markets, significant secondary markets and possibly tertiary markets. No rural or small town properties will be considered.
(c) No Financial Covenants or Personal Guarantees required.
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| Loan Amounts: |
$1 million to $5 million. Larger loans may be considered on a case by case basis.
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| Contact: |
Biff Ruttenberg
(312)516-5702
biff@atlaspartners.com
Joel Schneider
(312)516-5707
joel@atlaspartners.com
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