THE ULTIMATE IN CUSTOMIZED FINANCING
We offer a broad array of financing options that address investors’ unique goals and circumstances, whether they require alternative permanent debt, bridge loans, construction loans, mezzanine debt, or preferred equity. Lument’s capital markets platform provides access to a wide range of alternative lending sources, including banks, debt funds, life companies, and conduits. These offerings complement our agency and balance sheet loans and enable Lument to provide customized financing solutions for all commercial real estate asset classes: multifamily, manufactured housing, seniors housing and healthcare, student housing, self-storage, industrial, retail, hospitality, and office.
TERM SHEET
RECENT TRANSACTIONS
Class A Military-Centric Apartments
Originator: Jacob Cohen
Loan Purpose: Refinance
Execution: Credit Union
Location: Clarksville, TN
LTV: 65%
Term: Five Years, Fixed-Rate
Lument’s Real Estate Capital Markets team recently placed a refinance of a Class A multifamily property near Fort Campbell, a major Army installation that is home to the 101st Airborne Division. The property’s high concentration of military tenants posed challenges for traditional financing due to deployment-related vacancy risks. To overcome these hurdles, Lument utilized local relationships and crafted an innovative loan structure with a Credit Union that included a $300,000 reserve fund to address a potential deployment. This strategy enabled the team to deliver a competitive five-year, fixed-rate loan with three years of interest-only payments and a favorable rate.
Bridge-to-Bridge Turnaround
Originator: Hirsch Simins
Loan Purpose: Bridge-to-Bridge Refi
Execution: Perm Lender
Location: Atlanta, GA
LTV: 70%
Term: Five Years, Fixed-Rate
Lument recently secured bridge-to-bridge refinancing for a property in a challenging Atlanta submarket. Occupancy and delinquency issues required a lender that was comfortable with an aggressive turnaround strategy. Collaborating closely with the borrower and lender, Lument strategized a plan to underwrite to a pro forma rent roll. We were able to close after demonstrating that T1 collections aligned with projections. The end result was a permanent fixed-rate loan that provided the borrower with the stability needed to execute their recovery plan.
Texas Triple Play
Originator: Tim Smits & Hirsch Simins
Loan Purpose: Refinance
Execution: Perm Lender & Agency
Location: Waco, TX
LTV: 65%
Term: Five Years, Fixed-Rate
A borrower approached Lument to refinance a three-property portfolio consisting of a traditional BTR community and a SFR property cross collateralized with a larger student housing property. The capital markets team was able to quickly source a permanent lender for the SFR refinance while Lument’s agency team secured conventional and SBL financing for the other two properties via Freddie Mac. This customized solution provided certainty of execution and loan structures optimized for each property’s unique business plan.
Chicago Workforce Housing Portfolio
Originator: Hirsch Simins
Loan Purpose: Refinance, Bridge-to-Bridge
Execution: Debt Fund
Location: Chicago, IL
Term: 24-months with two six-month extensions
Lument’s Real Estate Capital Markets team completed a bridge-to-bridge refinance for a portfolio of five multifamily properties in Chicago. The portfolio had minimal in-place cash flow, but there was a clear path to net operating income (NOI) growth and stabilization, which Lument was able to effectively present. The sponsor has a large presence in the Midwest (20,000 units) which helped generate strong interest from the market. Lument successfully negotiated a non-recourse, cash-neutral offer from a debt fund to allow the sponsor to finish executing his business plan.
Industrial Flex Perm Loan with Full-Term I/O
Originator: Mark Vinitsky
Loan Purpose: Acquisition
Execution: CMBS
Location: Asheville, NC
LTV: 68%
Term: Five years
Lument’s Real Estate Capital Markets team recently arranged acquisition financing for an industrial center in Asheville, North Carolina. The industrial flex property historically had faced challenging environmental issues, so Lument collaborated with the lender and environmental attorneys to address the risks early in the process. Additionally, fifty percent of the economic rent roll had leases expiring within five years and a single office tenant generated half of the property’s income. Lument set aside appropriate reserves to mitigate the lease roll risks. Thanks to these measures, Lument was able to structure the transaction as a full-term, interest-only, commercial mortgage-backed security (CMBS) loan, providing the borrower higher proceeds than it could have received from banks.
