Ocean Pacific Capital has been in the commercial loan business since 1977. We can fund all development loans from raw land to conversion developments. We have the experience needed to make getting a commercial loan a smooth and easy process for the client.
Real Estate Development Loans are agreements where a lender gives money to a business that is performing a Property Development Project. The business agrees to repay the money with interest, at some future point.
These Development Loans are very flexible and come in a variety of terms to meet your specific needs. Money issued for Development Loans are usually distributed in increments as the Property Development Project meets certain milestones.
Nearly all development and building begins with the purchase of raw land. In the current environment, many lending sources will not make loans on raw, undeveloped land. Ocean Pacific Capital has sources which will enable you to buy raw land which you want to develop for residential sub-division or commercial or industrial use. Conventional lending sources such as banks, savings and loans, pension funds etc. often are not interested in raw land and development financing.
You will often hear commercial construction lenders and commercial property developers use the term horizontal improvements in connection with land development loans.
The horizontal improvements include any zoning changes, the subdivision map, clearing the ground, cutting the roads, installing the utilities (water lines, sewer lines, power lines, cable TV lines, etc.), and paving the roads, sidewalks and gutters.
At this point a land developer will often sell off the homesites or commercial pads. A pad is a fully-improved site for a commercial building; i.e., it already enjoys streets, gutters, sidewalks, and utilities.
We understand the financing requirements developers and homebuilders need when it comes to land acquisition, development, and developing lot facilities. We originate loans with competitive rates and flexible payment schedules across the United States and throughout the world. Our alternative lending sources have much expertise in the evaluation and financing of raw, undeveloped land. We will work to get you the highest possible Loan-to-Value ratio on your land collateral. We welcome all inquiries from residential subdivision and commercial building developers.
We also provide loans for developed lot facilities. These facilities provide homebuilders a way to fund bulk acquisitions of already developed lots, upon which they can immediately begin construction. Contact your commercial loan officer for your next project.
We fund all commercial and construction loans from $500,000.00 to $1,300,000,000.00 worldwide.
Debt coverage ratios from 1.10 up
Adjustable and Fixed Programs
Loan to cost up to 100%
Loan to value up to 90%
10 to 30 year Financing
If you need Commercial Monies, Equity Partners and /or Secondary / Mezzanine Financing, call our Commercial Loan Department at 1800 595-1474 or apply today for a free consultation.
your financing needs,
we will tailor a loan that's right for you.
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Charles Elfsten, President
Charles A. Elfsten