Preferred Equity/ Mezzanine Investments

Loan Amount $5 to $150 million
Term 3-to-10-year terms
Loan-to-value (LTV) Up to 85%
Debt Yield Tailored to each transaction
Purpose Acquisitions, Refinancing, Repositioning, Workouts, Recapitalization
Loan Type Fixed or SOFR-based floating rate loans (current/accrual features where necessary)
Structure Mezzanine, B-Note, Participating Preferred Equity or selective 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, typically Interest-Only
Recourse Non-recourse except for certain standard carve-outs
Fees Negotiable, generally 1% origination and 1% exit fee
Prepayment Flexible
Property Types / Geography Multifamily*, Retail, Office, Industrial, Hospitality, and Self-Storage properties located in
primary and secondary markets throughout the US

*Can provide joint venture preferred equity behind GSE Mortgages