Preferred Equity/ Mezzanine Investments

Loan Amount $2 – $35 million
Term 2–10 years depending on transaction specifics
Loan-to-value (LTR) Up to 85%
Debt Yield Tailored to each transaction
Purpose Acquisitions, refinancing, repositioning, workouts, recapitalization on stable and transitional assets
Loan Type Fixed or LIBOR-based floating rate loans (low coupon with IRR lookback for transitional/value-add deals)
Structure Mezzanine, B note, preferred equity  or selectively LP Equity
Pricing Competitive pricing tailored to each transaction
Minimum DSCR 1.10x DSCR (may selectively go lower)
Will consider debt service reserve
Amortization Negotiable, interest only available
Recourse Typically non-recourse except for certain standard carve-outs
Fees Negotiable origination and exit fees
Prepayment Flexible
Property Types / Geography Multifamily, Retail, Office, Industrial, Self-Storage, and Hospitality properties located in primary and secondary markets throughout the U.S.