100% FINANCING FOR GROUND LEASE DEVELOPMENTS.

Envoy's ground lease loan program offers experienced developers and corporate users up to 100% LTC financing for acquisition of the land and development of the site improvements which will be leased to a tenant who will build and own their own building.

Unlike other lenders, Envoy has the flexibility to fully fund ground lease loans (whereas traditional banks finance up to just 85% of the cost) and requires no back-end profit participation. The developer retains 100% control of the property, and 100% of the profit after paying off the loan. For many developers, this program represents the lowest-cost option for capital when compared to third-party equity and traditional bank debt.

Envoy can fund project loans for 100% of actual hard and soft construction cost (including interest carry), up to $8.0 million per property.

DOWNLOAD GROUND LEASE LOAN PROGRAM FLYER.

DOWNLOAD LOAN REQUIREMENTS CHECKLIST.


TRANSACTIONS PREFERRED

  • Net lease, single tenant development

  • Preferred projects:
    - Credit tenants*
    - Minimum 10-year lease term
    - NNN lease structure
    - Fully entitled, shovel ready
    - Less than 12-month development period
    - Signed lease at closing

  • Development cost per property (minimum): $500,000

  • Experienced developer

*Other non-credit tenants on a case by case basis.

DEAL STRUCTURE DETAILS

  • Up to 100% loan to project cost
    - 80% LTV "as completed"

  • Pricing:
    - Fixed-rate interest
    - Fees: origination and exit
    - No back-end participation
    - Minimum interest period: 7 months
    - Pre-payment locked out for 6 months