REAL ESTATE LLC
Having entered into the world of commercial real estate finance back in March of 1994, Michael Edery founded Paradigm Funding in December of 1999, as a full service commercial mortgage firm, to service the borrowing needs of clients, and to ensure that their ability to capitalize on the debt available was fully maximized. In 2008 the name Paradigm Commercial Real Estate LLC was adapted to better portray the company’s primary objectives. Since its formation, Paradigm has arranged many billions dollars in first mortgage and mezzanine financing for various property types located all across the continental United States. In that we act strictly as intermediaries to the lenders, it affords us the opportunity to place the loan with a lender that will be most suitable for the property at hand, and enables us to offer the most competitive and aggressive product.
A refinance loan is a credit facility extended to a property owner to retire the existing debt, recapture property appreciation, and provide liquidity to the owners.
This facility will enable the purchaser to leverage his / her equity and maximize the return on investment, by keeping the out-of-pocket proceeds to a minimum.
We arrange construction loans for almost all types of projects and can cover the hard, soft, and financing costs. Loan-to-cost ratios are market and industry specific.
We also arrange long-term, fixed-rate financing with terms ranging from five years to as long as 40 years, all on varying amortization schedules.
For deals that require repositioning, floating-rate debt has proven to be an invaluable tool in maximizing a property’s potential. They are typically on an interest-only basis, generally bear lower interest rates, and usually have little to no prepayment penalty.
These loans, secured by the partnership interest, are invaluable as they can provide an additional tranche of financing without disrupting the integrity of the first mortgage, or in cases where subordinate financing is disallowed. Typically, an intercreditor agreement will be required.
Similar to a mezzanine loan, preferred equity allows for an additional tranche of financing while respecting the senior debt. In most cases, it will not require an intercreditor agreement with the senior lender.