LSI 2010 Real Estate Joint Ventures conference materials.pdf
LSI 2010 Real Estate Joint Ventures conference materials.pdf
LSI 2010 Real Estate Joint Ventures conference materials.pdf
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Gregory K. Johnson of Wright Runstad & Company<br />
Preston R. Sargent of Kennedy Associates <strong>Real</strong> <strong>Estate</strong> Counsel, LP<br />
Speaker 5: 5<br />
Speaker 6: 5<br />
Construction Loan<br />
• Up to 70-85% LTC<br />
• Floating rate<br />
• Developer looks for:<br />
– As much as possible<br />
– As cheap as possible<br />
– No recourse/guarantees<br />
9<br />
Construction Loan<br />
• Lender looks for:<br />
– Getting paid back<br />
• Enough $ to do the job<br />
• Preleasing<br />
• Take out<br />
– Risk Management<br />
– Senior position<br />
– Recourse<br />
– Guarantees<br />
10<br />
Law Seminars International | <strong>Real</strong> <strong>Estate</strong> <strong>Joint</strong> <strong>Ventures</strong> and Funds | 02/08/10 in Seattle, WA
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