Construction mini perm financing for income producing properties. This particular method of financing is used primarily for income producing projects that need to establish an operating history prior to applying for long-term, permanent financing.
They are usually applicable to:
- Shopping centers
- Office buildings
- Industrial properties
- Large apartment complexes
Funds from a construction mini perm loan are typically secured during the project construction phase and last through the rental stabilization period. Mini perm loans usually carry a term length of 3 to 5 years and, as a result, they are always a short-term financing solution. The loan matures with a balloon payment at the end of the term.