Basis Investment Group has recently rolled out a senior mortgage lending program that provides higher leverage than what is currently available in the marketplace. The platform is an affiliate of JEMB Realty Corp., a vertically integrated real estate holding company with over 8 million square feet of commercial real estate under ownership. Basis was launched in January 2009 by Tammy Jones (formerly Tammy Heyman), Morris Bailey and Joe Jerome. The company initially focused on loan acquisitions, mezzanine loan originations and CMBS purchases, but that was a temporary strategy until the origination business opens up. Basis will generally originate fixed and floating rate, nonrecourse loans of $5 million to $50 million on multi-family, retail, office and industrial properties nationwide. May selectively provide financing on hotel products in major markets. Loan terms will range from three to five years with amortization schedules of up to 30 years and loan-to-value ratios of up to 75%. Pricing will vary, but rates would typically fall into a range of 7% – 9%. “However, Basis is willing to be flexible for the right opportunity,” Jones said. Historically, the senior members of the Basis lending platform have originated, securitized and sold in excess of $30 billion of commercial real estate loans over the last decade.
For more information on the program, please contact Kunle Shoyombo, Chief Investment Officer at (212) 842-5713 or kshoyombo@basisinvgroup.com.