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Doral Business Cash Management
 
Placing the client and our community at the center is the cornerstone of our approach to banking.

“The bank for you.”

doral property finance usa

About Us

Doral Property Finance ("DPF"), a division of Doral Bank, is a national lending platform with real estate offices located in New York City and Miami, Florida. DPF is a structured finance lender that is focused on providing prudent leverage to opportunistic real estate investors for effective business plan execution. 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) focuses on the following lending areas:

  • Distressed note and asset financing.
    • Non-Performing Loans (NPL), as well as Sub-Performing, Re-Performing and Performing Loans (commercial and residential).
    • Discounted Payoffs (DPO).
    • Real Estate Owned (REO) single assets and portfolios (commercial and residential).
  • Financing recapitalizations and restructured real estate debt.
  • Providing warehouse facilities to bridge lenders (Revolving Lines of Credit).
  • Value-add and opportunistic bridge lending for assets that are not yet stabilized or need to be repositioned.
    • Including non-cash flowing assets, such as gut renovations, conversions and adaptive-reuse opportunities.
    • Financing condominium inventory positions.
    • Financing provided through the full capital stack with subordinated debt financing through partners.
  • Construction lending.

Program Guidelines

  • Loan Amounts: $10MM to $50MM per single asset or note; up to $100MM for portfolios of assets or notes.
  • Term: Up to 5 years.
  • Security: First mortgage or direct assignment of a first mortgage.
  • Prepayment: No lock-out; Minimum interest generally required.
  • Recourse: Limited or non-recourse to principals after standard carve-outs.
  • Advance Rates: Typically 65% loan-to-cost.
  • Subordinated Debt: Available through partner-venture financing.
  • Pricing: Floating rate over LIBOR.
  • Properties or loans pledged as collateral may be in transition or in distress and require 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.
  • Preferred Property Types:
    1. Office
    2. Industrial
    3. Multifamily
    4. Retail
    5. Hotel
    6. Residential condominiums in major markets

For additional information, contact us at doralfinanced@doralbankusa.com or 646.313.4914.