LENDING PARAMETERS:

Wallace Capital serves a niche segment of the real estate loan market, and uses the following parameters for loans:

  • Lending Area: Massachusetts, New Hampshire, Rhode Island, Southern Maine, Eastern Connecticut, Vermont (VT Loans more than $1,000,000 only) ACTIVELY LENDING IN NANTUCKET, CAPE COD & MARTHA’S VINEYARD
  • Loan Size: $200,000 to $20,000,000
  • Collateral Types: Non-owner-occupied residential, single family, multifamily, office, retail, industrial, land, hotels, motels, condominium developments, subdivisions, and other commercial real estate
  • Interest Rates: 10%-12%
  • Security: 1st or 2nd mortgages and mezzanine debt (partnership interests)
  • Loan to Value: Up to 75%
  • Loan Term: 3-24 months (longer terms accommodated through extensions)
  • Closing Times: 5-10 business days
  • Underwriting: Collateral-based lending. Loans are not credit driven.

LOAN TYPES:

  • Bridge Financing
  • Foreclosure Workouts
  • Partner Buyouts
  • Unique Acquisition Situations
  • Construction Loans
  • Vacant Building Financing
  • Financing of Discounted Loan Payoff
  • Rehab/Renovations
  • Working Capital Needs
  • Condo Conversion Opportunities
  • DIP (Debtor in Possession) Loans

Bridge Loans:

A bridge loan is a short-term, private loan that “bridges” the gap between today’s need for immediate cash and the final closing of long-term financing, recapitalization, or sale.

Bridge loans enable a borrower to complete a purchase or close a transaction in a more timely manner.

Mezzanine Debt:

We provide loans secured by partnership interests or LLC interests of entities that own real estate.

Joint Venture Equity:

Wallace Capital provides bridge loans and joint venture equity capital to qualified individuals and companies in the Boston, Massachusetts area. We invest in existing and to be built real estate projects on a joint venture basis with property owners and real estate developers. Our typical joint venture structure provides for 80-95% of required equity. Once a preferred return is paid, profits are split with the real estate sponsor on an agreed-upon basis. Contact Wallace Capital for a joint venture proposal in which Wallace Capital provides equity, guarantors, development expertise or some combination of these for new real estate projects.

Note Acquisition Financing:

We finance performing and non-performing note acquisitions or loan purchasesstate projects.