LENDING PROGRAMS

Senior Debt:

Leverage: Maximum 80% / typically 70-75% dependent on debt coverage ratios
Term: 3-10 years / fixed-rate or adjustable
Size:  Minimum $3,000,000 nationwide, smaller loans on a case-by-case basis
Amortization: 25-30 years

 

Joint Venture Financing:

Leverage: Maximum 95% of the total capital stack dependent on strength of sponsor and project dynamics with a minimum of 10% equity investment by Sponsor
Term:  1-3 years with options
Size: Minimum $3,000,000
Amortization:  Interest only
Participation: Combination of minimum IRR returns / preferred interest payments
Security: Secured by the Operating Agreement and/or a Pledge Agreement

 

Mezzanine Debt:

Leverage: Maximum 85% of the total capital stack
Term:  1-5 years
Size: Minimum $2,000,000
Amortization: Interest only
Rates: 8-14% dependent on leverage and asset quality
Security: Subordinated to senior lien holder together with a Recognition Agreement between senior lender and mezzanine lender

 

Bridge Debt:

Leverage: Maximum 85% of acquisition or original funding with additional “good news” funding events up to 95% of the original funding amount
Term: 1-3 years with options
Size: Minimum $2,000,000
Rates: 6-10% dependent on leverage and asset quality
Amortization: Interest only

 

Asset Type:  Stabilized office, multi-family, industrial, retail, hotel, single tenant and mixed use properties as well as properties in transition, recapitalization opportunities, partnership buyout situations and broken condo projects.  New construction on a case-by-case basis