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Nonrecourse Construction Loan

 

Since 1977, Ocean Pacific Capital has helped developers and investors find unique and competitive nonrecourse construction loans across the nation. Our access to the local, regional, national, and international construction lenders allows us to acquire the best loan for our clients. Regardless of size and shape of the project, we can find the right financing source for you. Depending on each case, the maximum loan to cost can range from 80% to 90% and the maximum loan to value can range from 70% to 80% of the completed value. Although most lenders usually only offer recourse construction loans, there are several lenders who offer nonrecourse construction financing for larger loan amounts. These nonrecourse construction loans are available for retail construction loans, office building construction loans, apartment construction loans, and industrial building construction loans. Ocean Pacific Capital provides a large range of loan programs to match our real estate developers and investors’ financing needs and requirements. Our resources are some of the most widespread in this industry, offering one of the most competitive rates and terms, which allows us to continually meet our clients’ expectations for over the past 31 years. We understand the goals involved with obtaining a nonrecourse construction loan. Whether those goals are short-term, long-term, to maximize cash flow, turn-around property, etc, we have the means to acquire the financing necessary to fulfill your goals. To learn more about this program or any other programs that we offer, email or call us today to contact our commercial loan specialists.


Whatever your financing needs,
we will tailor a loan that's right for you.

 


Daily Oil & Gas and Wall Street Journal News
6/4/20

CNOOC grants Empyrean 12-month extension for first phase drilling at Block 29/11
Posted on Wednesday June 03, 2020

China National Offshore Oil Corp. (CNOOC) has granted a 12-month extension to Empyrean Energy for the first phase of exploration drilling in Block 29/11, offshore China, due to the COVID-19 pandemic and the resultant global control policies.

Ineos completes Norwegian Sea farm-out to Rex unit
Posted on Monday June 01, 2020

Ineos E&P Norge AS closed a deal May 29 to transfer 15% interest in two Norwegian Sea licenses to Lime Petroleum AS (LPA), a 90% subsidiary of Rex International Holding Ltd., LPA said June 1.

ANPG provides data package for oil exploration onshore Angola
Posted on Friday May 29, 2020

The Angola National Agency of Oil, Gas, and Biofuels has provided more onshore data for oil exploration in the Lower Congo and Kwanza onshore basins ahead of an official announcement to begin new bidding rounds.

APT identifies lower Jurassic source rocks offshore Canada
Posted on Friday May 29, 2020

Applied Petroleum Technology (APT), Oslo, has identified lower Jurassic source rocks and a genetically related set of oil shows in the Southern Grand Banks petroleum system offshore Canada.

Jersey gains operatorship of UKCS license P2170
Posted on Wednesday May 20, 2020

Wall Street Journal
Commercial News

6/4/20

WSJ.com: US Business

UAW Ex-President Pleads Guilty to Embezzlement, Racketeering Charges
Former United Auto Workers President Gary Jones pleaded guilty to embezzlement of union funds and racketeering, marking the highest-profile conviction yet in the government?s yearslong investigation into labor corruption within the auto industry.

Snap Says It Won't Promote Trump's Snapchat Account
Social-media company Snap said it will no longer promote the Snapchat account of President Trump on its home page after finding that his public remarks could incite racial violence, a spokeswoman said.

Chicken Industry Executives Indicted on Price-Fixing Charges
The CEO of one of the country?s biggest chicken producers and three other industry executives were indicted on charges they conspired to fix prices on chickens sold to restaurants and grocery stores, the Justice Department?s first charges in a continuing criminal antitrust probe.

FedEx Adds New Delivery Fees to Manage Strain From Coronavirus
The delivery giant plans to impose surcharges on merchants with too many shipments and oversize packages, following a similar move by rival UPS.

'Everything Is Gone': Looting Strikes a Second Blow to Reeling Businesses in Minority Neighborhoods
Along Philadelphia?s 52nd Street corridor, mom-and-pop stores suffered major damage. Many had been gearing up for revival after weeks of coronavirus shutdowns, and some now face the prospect of months before reopening, if ever.

Coronavirus Pandemic Drives Unemployment Up Across U.S. Metro Areas
The coronavirus pandemic caused unemployment to rise in every metropolitan area in the U.S. in April, the first full month of widespread stay-at-home orders and business shutdowns, hitting hardest tourist destinations and factory towns.

A Painful Economic Reversal of Fortune for African-Americans
The fallout from the pandemic and protests highlights the income and wealth gaps that leave black Americans vulnerable.

BRE #:00619059
Charles Elfsten, President
Charles A. Elfsten
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