Program Overview
Watch Jody Kriss' discussion of our lending criteria
To send us a deal please contact: pipeline@krisscapital.com or call +1 917 246 4846
| Construction / Value Creation | Value Realization | |
|---|---|---|
| Property Types |
Kriss Capital is a pure play on residential lending; we invest in multifamily, condo, hotel/office conversion-to- residential, build-for-rent, & entitled
land. We offer construction/value creation financing, as well as value realization financing (bridge to lease up and condo inventory). |
|
| Pricing (Spread over 1-Month Term SOFR) | Starting at 5.00% + 1-Month Term SOFR | Starting at 4.00% + 1-Month Term SOFR |
| Strategies | Construction Loans (for-rent and for-sale properties), Heavy Conversion (hotel-to-residential or office-to-residential), and Selected Predevelopment / Land Loans | Bridge-to-Completion, Bridge-to-Lease-Up, and Bridge-to-Sale Condo Inventory |
| Loan Sizes |
$30MM - $200MM+ |
$20MM - $200MM+ |
| Term |
12 to 30 Months with Extension Options | |
| Debt Yield (on Rental Properties) |
7.25%+ in Tier 1 Cities and 7.75%+ in Non-Tier 1 Cities | |
| Loan-To-Cost |
< 75% (higher on a case-by-case basis) |
More sensitive to LTV than LTC |
| Loan-To-Value |
< 70% |
|
| Fees |
Origination: 1.00% - 1.25% | Exit Fee 0.50% - 1.00% | |
| Geographic Regions: |
Primary Focus: NY, NJ, CT, PA, FL, and TX Secondary Focus: major markets across the Eastern US on a case-by-case basis |
|