GE Real Estate - Golf Course Financing

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This information is intended to give you our typical financing deal parameters. If your transaction does not meet these parameters please call us to discuss how we can meet your needs.

The information furnished to you here is preliminary. This is not an offer or a commitment. Rates, terms and conditions may be changed without notice.
All transactions are subject to submission of a formal application, underwriting and written approval. Approved terms may vary.
	Aquisition & Refinance	Member Owned Clubs
Transaction Size	Portfolios of $10 million to >$125 million Single assets: $5 million to $40 million	$5 million to $25 million
Asset Types	Daily Fee Semi-Private Non-equity Private	501(c)7 owned 10 + years old
Structure	3- to 7-year terms 25-year amortization, interest-only first two years Maximum of 85% loan-to-value 2-year lockout Non-recourse	Up to 10-year terms 20-year amortization Interest-only during renovation period Maximum of 70% loan-to-value 5-year lockout Non-recourse
Interest Rates and Costs	Fixed or floating at competitive spreads over corresponding indices Generally, 1/2% origination fee and 1/2% exit fee	Fixed or floating at competitive spreads over corresponding indices Generally, 1/2% origination fee and 1/2% exit fee
Other Features	Earn outs Flexible prepayment Ground leases and operating leases (longer term preferred) US and Canada	Flexible prepayment US and Canada
Non-Qualifying	Construction loans Residential/golf developments “Alternative” golf facilities (i.e., golf driving ranges, par 3’s)	New clubs