Acquisition

To purchase land and buildings planned for future development, preservation of affordability, or other redevelopment/reuse activities, for both residential and commercial development


Uses	To purchase land and/or operating properties planned for future residential and commercial development, preservation of affordability, or other redevelopment/reuse activities
Loan amount	Up to $10,000,000
Loan term	Up to 36 months for land/vacant building acquisition Up to 60 months for operating property acquisition
Interest rate	From 5.00%, dependent on lien position, loan term, and duration and complexity of the process to move the project to construction or other start point Payments are generally interest-only
Collateral/security	First or subordinate mortgage/deed of trust on the property being acquired Maximum 85% LTV for unimproved land and vacant buildings Maximum 95% LTV for operating properties
Repayment source	Construction or permanent financing, depending on project type and timeline
Fees	Application Fee - $1,000 Origination Fee - 1.00% to 1.50% of loan amount
Third-party reports	Appraisal, Phase I/II environmental, market study, property condition report

When we needed to close a construction loan in a short timeframe, in the midst of a disrupted LIHTC market, their team moved quickly and got the deal done. We have always found NC to provide creative solutions to development challenges.

Without NeighborWorks Capital participation in our loans, it would be difficult for us to finance many larger developments and New Market Tax Credit projects throughout the Mid-South region. Since 2014, NeighborWorks Capital has provided loan participations to bridge, acquisition and mini-permanent loans.

NeighborWorks Capital was there for us when we made the strategic decision to enter a new market and develop a major project that will be transformative for Kansas City. The acquisition and predevelopment financing they provided was critical to this project and we value their partnership.

NeighborWorks Capital was a responsive financing partner, ready to apply a mission-focused solution, rather than try to fit us into an off-the-shelf product. It will allow us to grow our real estate business and our impact around Jacksonville, improving our community and our bottom line.

The NeighborWorks Capital team listened to our needs and found the right solution. The favorable terms and rate of NeighborWorks Capital's acquisition loan product were exactly what we were looking for. We are grateful for their professionalism, lending expertise, and great service.

We found working with NeighborWorks Capital to be a refreshing experience. Because of their experience and flexibility, Avenue CDC had a smooth closing to purchase an affordable property from our development partners, giving Avenue greater control to keep the property affordable for a long time.

We appreciate NeighborWorks Capital’s willingness to take on a project, and the team’s ability to underwrite and close the loan in a short time frame. We can’t thank them enough for closing this project and for the other financing tools they have provided to EBALDC to help advance our mission.

Acquisition

To purchase land and buildings planned for future development, preservation of affordability, or other redevelopment/reuse activities, for both residential and commercial development

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