Loan Amount | $15 to $75 million; may go higher in select cases |
Term | 3-year term with two (2) x 1-year extension options |
Loan-to-value (LTV) | Up to 70% for stabilized commercial and hotel Up to 75% for stabilized multifamily |
Debt Yield | Tailored to each transaction |
Purpose | Acquisition, Refinancing, Repositioning, Workout, Recapitalization |
Loan Type | SOFR-based floating rate loans |
Structure | Mezzanine, B-Note, Participating Preferred Equity or selective LP Equity |
Pricing | Competitive pricing tailored to each transaction |
Minimum DSCR | 1.20x DSCR (may selectively go lower) Will consider debt service reserve |
Amortization | Interest-Only |
Recourse | Non-recourse except for standard carve-outs |
Fees | Negotiable, generally 1% origination and 1% exit fee |
Prepayment | Flexible |
Property Types / Geography | Multifamily, Retail, Office, Industrial, Hospitality, Mobile Home Parks and Self-Storage properties located in primary and secondary markets throughout the US |