MULTIFAMILY
Loans

Do you want to acquire a small apartment complex? CIVIC Multifamily is a non-bank multifamily bridge lender. Its unique positioning and strategic, vertical approach provides fast and efficient financing to value-add multifamily clients, putting CIVIC on track to quickly become a leader in the non-bank multifamily bridge space.

1 YEAR

80% LTC

PRE-PAYMENT PENALTY:
NO MINIMUM INTEREST

2 YEAR

80% LTC

PRE-PAYMENT PENALTY:
8 MONTHS MINIMUM INTEREST

3 YEAR

80% LTC

PRE-PAYMENT PENALTY:
12 MONTHS MINIMUM INTEREST

INSTITUTIONAL CAPITAL

FULL SERVICE INFRASTRUCTURE

VERTICAL INTEGRATION

GUIDELINES

Lending Guidelines

ELIGIBLE LOCATIONS

MSA’s within the U.S. and current markets approved by CIVIC

PROPERTY TYPES

Multifamily 5-100 Units

LOAN AMOUNT

$500k to $10MM

LOAN TERM

1, 2 and 3 Year Loans

AMORTIZATION

Interest Only

LTC/LTV

Up to 80% Loan to Cost and maximum 75% LTV of stabilized value

DSCR

Stabilized Minimum 1.20x DSCR underwritten cash flow using prevailing rates at market rents

PROCESSING FEE & EXPENSE DEPOSIT

$5,000 Third Party Deposit Fee to cover actual 3rd party report cost
(appraisal, PCA, environmental, seismic, and site visit, if applicable)

RESERVES

Extensive Rehab Loans/No Rehab Advance: 6 months interest + 100% of rehab budget
Extensive Rehab Loans/Rehab Advance: 6 months interest + 20% of rehab budget

SPONSOR/BORROWER

Creditworthy individual(s) or entity acceptable to Lender with sufficient liquidity and net worth

BORROWING ENTITY

LLC, Corp, Trusts – SPE (single purpose LLC) may be required on some loans

RECOURSE

Non-recourse, with the exception of industry standard “bad boy” carve outs

ASSUMABLE

No

PREPAYMENT

1yr loans: No Minimum Interest
2yr loans: 8 months Minimum Interest
3yr loans: 12 months Minimum Interest