“The bank for you.”
doral property finance u.s.a.
About Us
Doral Property Finance, ("DPF") is a lending platform focused on providing prudent leverage to opportunistic real estate investors. This new business unit has been formed to take advantage of today's unique market conditions on a national level. Doral Bank is a subsidiary of Doral Financial Corporation a publically traded company on The New York Stock Exchange under the ticker symbol, DRL. Doral Financial Corporation was organized in 1972 and operates as a bank holding company.
Doral Property Finance (DPF) will focus on three areas of funding:
- Provide leverage to investors in senior loan pools or individual loans. This program will also finance DPOs and the acquisition of REO from lenders, or bridge investments that are not yet stabilized or need to be repositioned.
- Provide warehouse facilities to bridge lenders. This program will enable originators of senior bridge debt and term loans to apply conservative leverage and better manage their balance sheets.
- DPF is expanding its platform for commercial real estate lending. Currently having offices in New York and Florida, Doral will have the ability to provide senior mortgage bridge capital across a wide range of structured products.
Program Guidelines
- Loan Amounts: $5MM to $25MM per individual assets, up to $100MM for a diversified pool of real estate properties or loans.
- Term: Up to 5 years
- Security: First mortgage or direct assignment of a first mortgage
- Prepayment: Minimum one year interest
- Recourse: Limited or non-recourse to principals after standard carve-outs
- Advance Rates: Up to 65% loan-to-cost
- Pricing: Floating rate over LIBOR
- Properties or loans pledged as collateral may be in transition or in distress and requires lease or renovation or a new capital structure. Therefore loans may require interest reserves to carry temporary cash flow deficits, plus other reserves as necessary.
- Property Types: Diversified pools may be commercial or residential. Preferred property types would be:
- Multifamily
- Industrial
- Office
- Retail
- Residential condominiums in major markets
Team
Nicholas Santoro |
– Senior Managing Director |
|
Timothy Zietara |
– Chief Investment Officer |
|
David Cohen |
– U.S. Originations Mgr |
|
Jennifer Ludwigson |
– Director - Underwriting Manager |
|
Simon Seguss |
– Director and Relationship Manager |
|
Dominick Scali |
– Vice President |
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Francillia LeBlanc |
– Vice President-Portfolio Manager |
|
Jackie Ayuso-Brown |
– Associate Loan Administrator | jayuso@doralbankusa.com |
James P. Harlow |
– Associate |
|
Patricia Morel |
– Executive Assistant | pmorel@doralbankusa.com |
Offices |
New York |
|
Main Phone |
212-329-3762 |
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Member FDIC. Doral Bank is a subsidiary of Doral Financial Corporation.
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