Real Estate Construction Loan

Opening new facilities? We can help you meet your growing commercial real estate needs. Whether you are financing a new facility, or adding to an existing one, GE can provide you with permanent financing for the construction of owner-occupied properties.

LOAN PURPOSE	To fund construction costs for owner-occupied property, only in conjunction with permanent loan financing.
LOAN PRODUCTS	Interest at a variable rate throughout construction period, can convert to fixed rate upon completion.
TENANT	Must be owner occupied.
PREFERRED PROPERTIES	Industrial (including Distribution, Warehouse, Manufacturing, R&D, and Truck Terminals), Office, Retail, Grocery.
TERM	Typically 18 months or less. Longer on an exception basis.
ADVANCE	75% of appraised value or 90% of cost to construct, whichever is less. Advance up to 85% available in limited circumstances.
SECURITY	First deed of trust on land, building and improvements.
APPRAISALS	MAI appraisal required with certification update at completion.
ENVIRONMENTAL	Appropriate Environmental Site Assessments will be required on all real estate loans.

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