Address: 149 Madison Avenue, Suite 701, New York, NY 10016
States They Lend In: New York
We focus on providing senior debt on cash-flowing properties, or value-add properties that our borrower will be able to transform into cash-flowing properties that can later be sold or refinanced by a bank. Our strong preference is always to provide senior debt on cash-flowing properties, or properties that will or can readily become cash-flowing. We target loans between $500,000 and $30,000,000. Larger loan applications are also welcome. While the majority of the commercial bridge loans we originate and service are in the New York Metropolitan area, if a loan meets our criteria, we are interested in loan opportunities in primary markets nationwide.
We provide first mortgage bridge loan financing for the following property types:
- Multi-family / Apartment buildings
- Mixed-use properties
- Commercial and retail co-ops and condominiums
- Retail / Shopping Centers
- Acquisitions of performing loans, defaulted loans orloan portfolios
- Office buildings
- Warehouse / Industrial
Our borrower must have a viable business plan and exit strategy along with relevant experience, net worth and liquidity.
W's rates typically fall within the range between 8% and 10% depending upon the usual factors such as: Quality and experience of sponsorship, location, cash flow (or the lack thereof), the nature of the borrower’s business plan and the amount of time necessary to execute same. Our loans are structured with a floating rate based on a spread above Prime.
While the most typical loan term is one year, we have originated loans with terms ranging from six months to five years.
For first mortgages, W Financial will typically lend up to 75% loan to value - to be determined on a case-by-case basis. Mezzanine and second mortgage loans will only be considered on cash-flowing properties for strong sponsors with real expertise, net worth, liquidity and meaningful guarantees.