Lending Strategy
Our focus is on first mortgage bridge and construction loans. We provide interim financing to acquire and reposition a property through stabilization when a sale or permanent financing may be achieved. Construction loans are available for new multifamily developments or commercial projects with substantial preleasing. Loans are generally two to three years in term. Extension options may be available.
Typical Terms
- $5 million ($10 million for construction loans) to $35 million (portfolios up to $55 million)
- Two to three years with extension options possible
- Floating rate with caps available
- Generally nonrecourse, subject to standard carveouts
- Interest-only available
- Minimum debt service requirements evaluated on a deal-by-deal basis
- Flexible prepayment terms
Property Types and Geographic Markets
BB&T Real Estate Funding provides funding for office, multifamily, student and seniors housing, retail, industrial, manufactured housing and self-storage. Other asset types will be considered on a select basis.
Our geographic market focus is the continental United States in areas with 100,000 or more population; however smaller markets will be considered on a select basis.