WESTCAP CORP JULY 2014 FUNDINGS ANNOUNCEMENT

Westcap

Continues to

Close

Competitive

Commercial

Real Estate Loans

 

WESTCAP offers the ability to obtain loan sizes ranging from $1,000,000 to $200,000,000 nationwide.

 

WESTCAP provides fixed and floating rate debt programs for a variety of loan terms and purposes including long term permanent loans, short term permanent loans, construction loans, mezzanine loans, bridge/rehab loans, as well as joint venture equity placements for all types of income properties including:

 

Multifamily
Senior Housing 

Hospitality
Industrial

Office
Medical Office

Retail Self-Storage

Student Housing
  

WESTCAP serves as a correspondent to 15  life insurance companies and other sources of capital in order to meet all of our client's financing needs. Most of these correspondent relationships date back over 25 years, including Sun Life of Canada for which we have been the exclusive correspondent in Southern California for almost 30 years.

DEALS OF THE MONTH

$37,500,000 144 Room Residence Inn by Marriott construction loan with
a major money center bank
Pasadena, CA
CLOSED 

$11,000,000 Conduit loan for LA Fitness
Irvine, CA

CLOSED

$5,000,000 loan for a 16,000 SF Retail building Life Company
Laguna Beach, CA
CLOSED

$30,400,000 Life Co. financing for Portfolio of 4 multifamily projects
Orange County, CA
CLOSED 

RATES

Life Companies:  5-Year Fixed 3.90% - 4.75%; 10-Year Fixed 4.25% - 4.75%
            10-Year Fixed 50% LTV or less as low as 1.45 spreads for $10 million+
Multifamily:        5-Year Fixed 3.15% - 3.55%; 10-Year Fixed 3.75% - 4.16%

Bridge Loans:  $8 Million+  / 2-7-years plus options to extend, Fixed 4.60% - 6%, and floating at 90 Day LIBOR+300, 1 point in and 1/2 - 1 point out.          
                          $1 Million+ / 3-years plus options to extend, Fixed 6.5% - 9%, typically 1 point in and 1 point out.
Banks:  Commercial:   5-Year Fixed 4.10% +/-; 10-Year Fixed 5.00% +/-
              Multifamily:    5-Year Fixed 3.60% +/-; 10-Year Fixed 4.55% +/-

Construction Loans: 

RECOURSE: LIBOR+275-400

  NON-RECOURSE: LIBOR+425-8.75%

I am always available to discuss potential financing and or equity requirements, or to  provide a written quote to help convince a seller that you, or your client, are the most qualified buyer.  I will also handle any size transaction, as I am  interested in establishing long-term relationships as early as possible.

Steve BridgesExecutive Vice President
WESTCAP CORP
9960 Irvine Center Drive
Irvine, CA 92618
Office: (949) 387-9061  Cell: (949) 235-1540sbridges@westcapcorp.com www.westcapcorp.com
CA RE Broker: 00465840