Borrowers seeking to lock rate and fund their permanent loan pre-construction may find CapLease's L/C Forward Funding option a cost-effective alternative to traditional rate lock agreements, especially for rate locks beyond 12 months.

Under this program, CapLease will structure a forward funding of a permanent CTL loan against a letter of credit ("L/C"). The L/C structure is customized for each transaction.

For more information about this program, contact the investment manager responsible for you geographic area at (212) 217-6300.