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 ANBROS Financial corPORATION

Anbros Advantage

By offering specialized boutique service, Anbros is able to satisfy the full range of its borrowers' mortgage requirements; from the sophisticated real estate developer/manager to the equity loan required by the first time home buyer, Anbros truely is a one stop shop for real estate based financing.

Unlike traditional lenders, Anbros offers creative solutions to realty financings. Though there established lending guidelines, the team at Anbros understands that every deal is unique, and therefore a simple loan to value calculation is not the end all be all credit metric. A example of this is demonstrated by the commentary below which compares and contrasts the financing metrics that Anbros utilizes versus traditional lenders when it comes to multi-unit residential condominium construction financing.    


High-rise / Mid-rise Construction Financing

In today's enviroment, deposit taking institutions such as banks and credit unions are shying away from lending to high rise development - especially in the 416 region. The constant barrage of negative headlines coupled with the fear of an overheated condo market has resulted in real estate caps being levied on banks and by their senior credit committees. The result - developers are finding it extremely difficult to secure construction financing for high-rise development projects as liquidity in the market for this asset class continues to dry up.

We specialize in financing projects that don't qualify for bank financing and/or qualify but are unable to obtain institutional funding given the real estate caps. Historically our deal sizes have ranged from $5,000,000 - $68,500,000. Our criteria are less stringent than bank financing and have flexibility on a deal by deal basis. An example of this is shown by the table below as it pertains to residential high-rise construction financing:

 

 Bank Financing

Anbros Financing

Equity Requirement 25% or more 10% - 15% 
Pre-sales Project has to have achieved liquidation i.e.  zero market risk. Willing take on market risk for well located projects with good sales momentum.
External Guarantee / Covenant Support Heavy reliance and highly scrutinized for additional liquidity. Low Reliance. We are project based lenders.
Management  Looking for Tier 1 developers that have an established relationship with the bank and have developed numerous condos over the past few decades. We have financed first time developers that have surrounded themselves with experienced consultants and project managers.
Turn around time 1 month and upwards As fast as 5 days if required
Relationship Borrower is dealing with a commercial banking employee who submits financing request to credit committee for approval. No Authority  Dealing with decision maker
Ongoing Relationship Heavily structured lending with little room to maneuver without formal credit approval Dealing with decision maker - changes/ increases will be authorized ASAP as warranted.
Rates Prime based lending; rates vary from Prime + 0.75% - Prime +  3.0% Senior construction loans starting from Prime + 2.00%
Application Fee Varies from 75bps to 2.00% + standby fees as applicable. 1.00% - 3.00%; No standby fees