Hall Structured Finance Loan Program

In addition to construction lending, our loan program is also designed to provide financing for acquisition, bridge, debtor-in possession and recapitalization scenarios for commercial real estate projects located throughout the U.S. We have a strong track record of providing capital to the hotel industry, given that many traditional real estate capital sources avoid the hospitality sector, and we also actively pursue lending opportunities on multifamily, senior housing, student housing, office, retail and other specialty assets such as condominium, time share and fractional projects.

Eligible Locations
Real estate projects located throughout the United States.
Property Types
Strong emphasis on hotels, but also pursuing opportunities to lend on multifamily, student housing, office, and select other specialty assets such as condominium.
Security
First mortgage lien on the subject property, and pledge of ownership interests.
Loan Sizes
$15 million to $75 million (larger loans sizes considered on a limited basis for highly attractive opportunities).
Loan to Cost Ratio
Up to 75% LTC
Recourse
Non-recourse (subject to underwriting), with standard carve out guarantees and completion guarantees on construction loans.
Closing Time
4 to 8 weeks from application and deposit remittance.
Interest Rate
Libor-based floating rate typically between L +7.50% and L +8.75%
Debt Service
Interest only during the primary term.
Loan Term
36 month primary term; with up two 12-month extensions.
Origination Fee
2% of loan amount.
Exit Fee
1% to 2% of loan amount.
Prepayment
12 to 18-months post certificate of occupancy.
Reserves/Escrows
Real estate taxes, insurance, replacement reserves, and mortgage interest (as may be required).
Underwriting
Emphasis on equity capital funded in connection with loan, asset quality, value creation business plan, market analysis, and sponsorship.
Expense Deposit
$35,000, payable upon acceptance of Loan Application to cover 3rd party reports and out of pocket closing costs. Any remainder credited back to borrower at loan closing, or refunded in the event the subject loan application is not approved by HSF.
Third Party Reports
MAI Appraisal, and Phase I environmental, and other reports as may be relevant and / or required by HSF (feasibility, property condition etc.).
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