Meecorp Capital Market


[Total: 3    Average: 3/5]


Phone: (201) 944-9330

Address: 2050 Center Ave Suite 604, Fort Lee, NJ 07024

Website: http://www.meecorp.com

Email: principal@meecorp.com

States They Lend In: All 50 states
Meecorp Capital Markets is a privately owned commercial real estate lender and private equity firm specializing in value-added commercial real estate projects. We provide bridge loans, mezzanine loans, equity loans, preferred equity JV investments, construction financing, ground leases, sale/leasebacks and other alternative financing products for projects requiring creative financing and a fast turn around. MEECORP stands behind its reputation for speed, integrity, and professionalism. We provide fast, flexible funding where it’s needed most.

 

Bridge Loans

Acquisition, Construction, Restructuring and Refinancing
LOAN AMOUNT: $10,000,000 and up.

BORROWER: Management and/or ownership should be experienced. Past or present credit problems, including Chapter 11 or Chapter 7 bankruptcies are workable.

LOAN TERM : 1 to 5 years, interest only.

PREPAYMENTS: Loans may be prepaid at any time after the first anniversary of the loan with no prepayment penalties.

INTEREST RATE: 8% TO 12%

COLLATERAL: First mortgage on land, office, multifamily, recreational, medical, warehousing, manufacturing, self-storage, hospitality (hotel/motels) or industrial properties, etc. -– non-income or income-producing, located anywhere in the USA and select countries around the world.

L-T-V RATIO: 40% to 75% of As-Is Value by independent third party MAI appraisal.1

USE OF LOAN: Proceeds may be used for land development, real estate acquisition, construction costs, equipment, working capital, closing costs or cash-out.

PROCESSING: Approvals within 24 hours, commitments within 48 hours, and closings in as little as 14 business days.

EXIT FEE: In lieu of equity, there may be a fee of between 1% and 5% of the loan amount.

COMMITMENT FEE: Typically between 1% and 3% of Loan Amount.

SUBMISSIONS: Brief property description • Schedule of all proposed capital expenditures • Sources and use of proceeds statements • Appraisal, where available

 

Mezzanine Loans:

Acquisition, Construction, Restructuring and Refinancing

LOAN AMOUNT: $10,000,000 and up

BORROWER: Management and/or ownership should be experienced. Past or present credit problems, including Chapter 11 or Chapter 7 bankruptcies are workable.

LOAN TERM: 1 to 5 years, interest only.

PREPAYMENTS: Loans may be prepaid at any time after the first anniversary of the loan with no prepayment penalties.

INTEREST RATE: 10% TO 12%

COLLATERAL: Pledge of the stock of the borrowing entity, second mortgage on the real estate (if permissible), improvements and equipment. Office, recreational, medical, warehousing, manufacturing, hospitality (hotels/motels) or industrial properties. Typically income producing, located anywhere in the USA and in select countries around the world.

L-T-V RATIO: Up to 90% of the As-Is Value by independent third party MAI appraisal when combined with the first mortgage.1

DSC RATIO: Typically, a minimum of 2.0 of Excess Cash 2 over mezzanine debt service.

USE OF LOAN: Proceeds may be used for land development, real estate acquisition, construction costs, equipment, working capital, closing costs, cash-out, etc..

PROCESSING: Approvals within 24 hours, commitments within 48 hours, and closings in as little as 14 business days.

EXIT FEE: In lieu of equity, there may be a fee of between 1% and 5% of the loan amount.

COMMITMENT FEE: Typically between 1% and 3% of Loan Amount.

SUBMISSIONS: Property and area description • Three years operating statements • Sources and use of proceeds statement • Information on existing debt • Borrower’s financial statements • Schedule of all proposed capital expenditures • Appraisal, if available

 

 

 

 

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