West coast urban core land financing rates
Not sure if this is the correct forum but I'll give it a shot anyway. I have a few development parcels (no income) in downtown Seattle and SF with financing at 6% (non-recourse). What are you guys seeing out in the market? Is it worth shopping around? Thanks in advance.
[{"id": "end7aa0", "text": "What is your leverage? 6% with no debt coverage sounds fairly competitive.", "replies": [{"id": "engx2um", "text": "I appreciate the feedback. They're roughly 70% LTC/50% LTV.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ene5pam", "text": "Without knowing leverage it's tough to say. But 6% is pretty competitive especially given that it's non-recourse.", "replies": [{"id": "engx0hg", "text": "I appreciate the feedback. They're roughly 70% LTC/50% LTV.", "replies": [{"id": "eni81h4", "text": "It\u2019s a good deal.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]