Review Our Programs by Property Type:
Permanent Debt: Large Balance
Permanent Debt | Multifamily Large Balance
| Loan Amounts: | $5 to $250 Million |
| Max LTV/LTC: | Up to 80% (Depending on Market) |
| Cashout: | Permitted |
| Purpose: |
Acquisition and Refinance |
| Coupon Rates: | 4 to 4.25% |
| Amortization: |
30 Years |
| Terms: | 3 to 10 Years |
| Fees: | 1% Origination |
| DSCR: | 1.25 |
| Prepayment: | Yield Maintenance or Defeasance |
| Guaranty: | Non-Recourse |
| Escrows: | Taxes, Insurance, Replacement Reserves |
| Markets: | Nationwide |
| Segments: | Class A and B Properties |
Permanent Debt: Small Balance
Permanent Debt | Multifamily Small Balance:
| Loan Amounts: | $1 to $3 Million |
| Max LTV/LTC: | Up to 80% (Depending on Market) |
| Purpose: |
Acquisition and Refinance |
| Coupon Rates: | 4.5 to 4.75% |
| Amortization: |
30 Years |
| Terms: | 3 to 10 Years |
| Fees: | 1% Origination |
| DSCR: | 1.25 |
| Prepayment: | Yield Maintenance or Defeasance |
| Guaranty: | Non-Recourse |
| Escrows: | Taxes, Insurance, Replacement Reserves |
| Markets: | Nationwide |
| Segments: | Class A and B Properties |
Bridge/Transitional Financing
Bridge/Transitional | Multifamily:
| Loan Amounts: | $10 Million and Up (Smaller Loans Case-by-Case) |
| Max LTV/LTC: | Up to 85% (With Clearly Defined Exit Strategy) |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | LIBOR + 300 to 900 bps Depending on Risk Profile |
| Amortization: |
Interest Only |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve if Necessary |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Earn-Outs: | Available |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
Mezzanine Debt & Preferred Equity
Mezzanine Debt & Preferred Equity | Multifamily:
| Loan Amounts: | $3 to $50 Million |
| Max LTV/LTC: | Up to 85% |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | 9 to 14% Depending on Risk Profile |
| Amortization: |
Typically Interest Only |
| Interest Reserve: | Partial Accrual in Some Cases |
| Terms: | Typically Coterminous With First Mortgage |
| Fees: | 2 to 3% |
| DSCR: | 1.10 |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
Construction Financing
Construction Financing | Multifamily:
| Loan Amounts: | $5 to $100 Million |
| Max LTV/LTC: | 60 to 70% (Up to 83% with HUD Program) |
| Purpose: |
Ground Up or Substantial Renovation |
| Coupon Rates: | LIBOR + 300 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Full Recourse: Extremely Strong Borrower Financial Statements and Resume Required Non-recourse: Available through HUD program |
| Escrows: | Included in Capitalization |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
| Other: | Extensive Pre-Leasing Required |
Discounted Pay-Off (DPO) & Note Purchasing Financing
DPO & Note Purchase Financing | Multifamily:
| Loan Amounts: |
$5 to $100 Million |
| Max LTV/LTC: | 60 to 70% of Pay-Off Amount |
| Purpose: |
Opportunistic Loan Pay-Off |
| Coupon Rates: | LIBOR +600 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Markets: | National Primary & Secondary |
| Segments: | Class A and B Properties |
| Other: | Fresh Capital Contribution from Sponsor Typically Required |
Tax Credits
Through Aries Capital and our affiliate, Urban Development Fund (UDF) we offer tremendous expertise in the structuring and syndication of Historic, New Markets Tax Credits and other forms of government subsidies and incentives.
The UDF has been qualified as a Community Development Entity (CDE), and has been awarded over $337.5 million in New Markets Tax Credit allocations from the US Treasury. Aries and UDF have syndicated over $500 million in New Markets Tax Credits and Historic Tax Credits. Our extensive network of investors allows UDF to syndicate credits at extremely attractive pricing with the most efficient structures.
Please contact us to learn more or to determine if your property is eligible for tax credits.
Permanent Debt
Permanent Debt | Retail/Office/Industrial:
| Loan Amounts: | $10 to $250 Million |
| Max LTV/LTC: | 70 to 75% |
| Cash Out: | Permitted |
| Purpose: |
Acquisition and Refinance |
| Coupon Rates: | 4.5 to 5% |
| Amortization: |
25 to 30 Years |
| Terms: | 3 to 10 Years |
| Fees: | 1% Origination |
| DSCR: | 1.45 |
| Prepayment: | Yield Maintenance or Defeasance |
| Guaranty: | Non-Recourse |
| Escrows: | Taxes, Insurance, Capital Expenditures, Tenant Improvements, Leasing Commissions |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
Bridge/Transitional Financing
Bridge/Transitional | Retail/Office/Industrial:
| Loan Amounts: | $10 Million and Up (Smaller Loans Case-by-Case) |
| Max LTV/LTC: | Up to 85% (With Clearly Defined Exit Strategy) |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | LIBOR + 300 to 900 bps, Depending on Risk Profile |
| Amortization: |
Interest Only |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve if Necessary |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Earn-Outs: | Available |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
Mezzanine Financing
Mezzanine Debt & Preferred Equity | Retail/Office/Industrial:
| Loan Amounts: | $3 to $50 Million |
| Max LTV/LTC: | Up to 85% |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | 9 to 14% Depending on Risk Profile |
| Amortization: |
Typically Interest Only |
| Interest Reserve: | Partial Accrual Available in Some Cases |
| Terms: | Typically Coterminous With First Mortgage |
| Fees: | 2 to 3% |
| DSCR: | 1.10 |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Markets: | National Primary & Secondary |
| Segments: | Class A and B Properties |
Construction Financing
Construction Financing | Retail/Office/Industrial:
| Loan Amounts: | $5 to $100 Million |
| Max LTV/LTC: | 50 to 60% |
| Purpose: |
Ground Up or Substantial Renovation |
| Coupon Rates: | LIBOR + 300 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Full Recourse: Extremely Strong Borrower Financial Statements and Resume Required |
| Escrows: | Included in Capitalization |
| Markets: | National Primary and Secondary |
| Segments: | Class A and B Properties |
| Other: | Extensive Pre-Leasing Required |
Discounted Pay-Off (DPO) & Note Purchasing Financing
DPO & Note Purchase Financing | Retail/Office/Industrial:
| Loan Amounts: |
$5 to $100 Million |
| Max LTV/LTC: | 60 to 70% of Pay-Off Amount |
| Purpose: |
Opportunistic Loan Pay-Off |
| Coupon Rates: | LIBOR + 600 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Markets: | National Primary & Secondary |
| Segments: | Class A and B Properties |
| Other: | Fresh Capital Contribution from Sponsor Typically Required |
Credit Tenant Lease Structures
Credit Tenant Lease Structures | Retail/Office/Industrial:
| Loan Amounts: |
$2 to $100 Million |
| Max LTV/LTC: | Up to 99% Available |
| Coupon Rates: | Spread Over Corporate Bond Price |
| Amortization: | Term of Lease |
| Terms: | Up to Maximum Term of Lease |
| Fees: | 1% |
| DSCR: | 1.01 |
| Prepayment: | Yield Maintenance or Defeasance |
| Guaranty: | Non-Recourse |
| Markets: | National |
Tax Credits
Through Aries Capital and our affiliate, Urban Development Fund (UDF) we offer tremendous expertise in the structuring and syndication of Historic, New Markets Tax Credits and other forms of government subsidies and incentives.
The UDF has been qualified as a Community Development Entity (CDE), and has been awarded $337.5 million in New Markets Tax Credit allocations from the US Treasury. Aries and UDF have syndicated over $500 million in New Markets Tax Credits and Historic Tax Credits. Our extensive network of investors allows UDF to syndicate credits at extremely attractive pricing with the most efficient structures.
Please contact us to learn more or to determine if your property is eligible to leverage any of these tax credits.
Permanent Debt
Permanent Debt | Hotel & Lodging:
| Loan Amounts: | $10 to $250 Million (Smaller Amounts Case-by-Case) |
| Max LTV/LTC: | 60 to 70% |
| Cashout: | Permitted |
| Purpose: |
Acquisition and Refinance |
| Coupon Rates: | 4.5 to 5.5% |
| Amortization: |
25 Years |
| Terms: | 3 to 10 Years |
| Fees: | 1% Origination |
| DSCR: | 1.55 |
| Prepayment: | Yield Maintenance or Defeasance |
| Guaranty: | Non-Recourse |
| Escrows: | Taxes, Insurance, FF & E Reserve |
| Markets: | National Top 50 Hospitality Markets |
| Franchises: | Hilton, Marriott, Starwood, Hyatt and IHG (Boutique/Lifestyle and Other Brands Case-by-Case) |
| Segments: | Select- and Full-Service Hotels |
Bridge/Transitional Financing
Bridge/Transitional | Hotel & Lodging:
| Loan Amounts: | $10 Million and Up (Smaller Loans Case-by-Case) |
| Max LTV/LTC: | Up to 85% (With Clearly Defined Exit Strategy) |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | LIBOR + 300 to 900 bps, Depending on Risk Profile |
| Amortization: |
Interest Only |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve if Necessary |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Earn-Outs: | Available |
| Markets: | National Top 50 Hospitality Markets |
| Franchises: | Hilton, Marriott, Starwood, Hyatt and IHG (Boutiques/Lifestyle and Other Brands Case-by-Case) |
| Segments: | Select- and Full-Service Hotels |
Mezzanine Financing
Mezzanine Debt & Preferred Equity | Hotel & Lodging:
| Loan Amounts: | $3 to $50 Million |
| Max LTV/LTC: | Up to 80% |
| Purpose: |
Acquisition, Refinance, Repositioning |
| Coupon Rates: | 9 to 14% Depending on Risk Profile |
| Amortization: |
Typically Interest Only |
| Interest Reserve: | Partial Accrual Available in Some Cases |
| Terms: | Typically Coterminous With First Mortgage |
| Fees: | 2 to 3% |
| DSCR: | 1.15 |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Markets: | National Top 50 Hospitality Markets |
| Franchises: | Hilton, Marriott, Starwood, Hyatt and IHG (Boutique/Lifestyle and Other Brands Considered Case-by-Case) |
| Segments: | Select- and Full-Service Hotels |
Construction Financing
Construction Financing | Hotel & Lodging:
| Loan Amounts: | $5 to $100 Million |
| Max LTV/LTC: | 50 to 60% |
| Purpose: |
Ground Up or Substantial Renovation |
| Coupon Rates: | LIBOR + 300 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Full Recourse: Extremely Strong Borrower Financial Statements and Resume Required |
| Escrows: | Included in Capitalization |
| Markets: | National Top 50 Hospitality Markets |
| Franchises: | Hilton, Marriott, Starwood, Hyatt and IHG (Boutique/Lifestyle and Other Brands Considered Case-by-Case) |
| Segments: | Select- and Full-Service Hotels |
Discounted Pay-Off (DPO) & Note Purchasing Financing
DPO & Note Purchase Financing | Hotel & Lodging:
| Loan Amounts: |
$5 to $100 Million |
| Max LTV/LTC: | 60 to 70% of Pay-Off Amount |
| Purpose: |
Opportunistic Loan Pay-Off |
| Coupon Rates: | LIBOR + 600 to 900 bps Depending on Risk Profile |
| Interest Reserve: | Included in Capitalization |
| Terms: | 1 to 3 Years with Extension Options |
| Fees: | 2 to 4% |
| DSCR: | Covered by Interest Reserve |
| Prepayment: | Minimum Interest Required |
| Guaranty: | Recourse and Non-Recourse Depending on Risk Profile |
| Escrows: | Included in Capitalization |
| Markets: | National Top 50 Hospitality Markets |
| Franchises: | Hilton, Marriott, Starwood, Hyatt and IHG (Boutiques/Lifestyle and Other Brands Case-by-Case) |
| Segments: | Select- and Full-Service Hotels |
Tax Credits
Through Aries Capital and our affiliate, Urban Development Fund (UDF) we offer tremendous expertise in the structuring and syndication of Historic, New Markets Tax Credits and other forms of government subsidies and incentives.
The UDF has been qualified as a Community Development Entity (CDE), and has been awarded $337.5 million in New Markets Tax Credit allocations from the US Treasury. Aries and UDF has syndicated over $500 million in New Markets Tax Credits and Historic Tax Credits. Our extensive network of investors allows UDF to syndicate credits at extremely attractive pricing with the most efficient structures.
Please contact us to learn more or to determine if your property is eligible to leverage any of these tax credits.
