Loan Amount | $2 – $50 million |
Term | 2–10 years depending on transaction specifics |
Loan-to-value (LTV) | Up to 85% (selectively up to 90% for enhanced Preferred/LP Equity) |
Debt Yield | Tailored to each transaction |
Purpose | Acquisitions, refinancing, repositioning, workouts, recapitalization |
Loan Type | Fixed or LIBOR-based floating rate loans (current/accrual features where necessary) |
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, typically interest only |
Recourse | Typically 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 U.S. |