Transactions
Nationwide financing across all commercial real estate property types
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Knighthead provided a $75mm first mortgage construction loan for an 18-story high rise with 49 luxury residences over ground floor retail. The subject property will include 47 3-bedrooms and 2 4-bedroom penthouse units with units ranging from 3,625 SF to 5,982 SF and 3 floors of parking. The loan was underwritten at ~68% of cost and ~57% of sellout value.
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Knighthead provided a $4.85mm first mortgage construction loan for an ~11,958 Sq. Ft retail building. The subject property is currently a 6,487 SF 1 story retail center and ownership is planning to expand the property to include additional ground floor space and a second floor. The loan was underwritten at ~72% of cost and ~54% of “as-stabilized” value.
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Knighthead provided a $15.5mm first mortgage construction loan to complete a 77 unit condominium building with ground floor retail and covered parking. The loan was underwritten to ~68% of cost and ~50% of net sell out value.
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Knighthead provided a $14.36mm first mortgage for the acquisition and construction of 72 townhomes in Roselle, IL. All units will be a 2 bedroom/2 bathroom including an in-unit washer/dryer and will average ~1,400 SF. This loan was underwritten to 76% of cost and 66% of as complete value.
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Knighthead provided a $15,000,000 loan to be used toward the acquisition of a vacant 94,815 +/- Sq. Ft. industrial building situated on a 4.76 +/- acres site. The loan was underwritten at approximately 48% of “as-is” value. The loan was closed in 22 business days from receipt of executed term sheet.
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Knighthead provided a $36,000,000 loan to be used toward the refinance of a hotel built in 2017, which is currently undergoing a flag transition. The 214 key, 170,000 sq. ft. property was underwritten at approximately 59% of “as-is” value. The loan was closed in 25 days from receipt of executed term sheet.
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Knighthead provided an $11,000,000 loan to be used toward the acquisition and construction of an approx. 7,000 Sq. Ft. waterfront luxury residence, with southern exposure, on San Marino Island in Miami Beach. When complete, the property will be marketed for sale. The loan was underwritten to 64% of completion value.
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Knighthead provided an $11,000,000 loan to be used toward the acquisition and construction of an approx. 9,500 square fool waterfront luxury residence to be marketed for sale. The loan was underwritten to 61% of completion value.