General Terms
Size:	$4 - $25 million per project
Advance Rate:	75%-90% of total project costs
Collateral:	First priority lien on the real estate
Term:	2-5 years
Loan Fee:	1.0% to 2.0% of loan amount paid at commitment or closing
Interest:	Competitive spread over LIBOR. Interest is paid current to the extent that there is available cash flow. Appropriate interest accruals are established for the turnaround and lease-up periods.
Amortization:	Typically interest only
Exit Fees/Participation:	Exit Fees or a Participation may be required depending upon leverage and various risk factors

 

Advantages

Flexible Prepayment: Investments are structured to enable the owner to stabilize income and unlock value through a refinance or sale without delays or the costs associated with long term lockout periods. Complements Construction Loans: Heller can underwrite lease-up risk and provide a mechanism for Borrowers to reduce their recourse exposure. The floating rate program can be used to recycle the equity in a project. Speed: Heller has industry expertise and understands the need to be responsive on acquisition opportunities. Heller can complete a transaction within 30 to 45 days from signing a term sheet.

For more information about Heller Financial, visit Heller Financial's website at http://www.hellerfinancial.com/