Bridge Loan Program

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