Equity & Debt
Preferred Equity / Mezzanine
Insurance Companies, Finance Companies, Debt Funds
Acquisition, Repositioning, New Construction
Up to 5 yrs. (typical), Up to 10 yrs. (selective)
Loan to Value (LTV)
Up to 85% (typical), Up to 90% (selective)
Preferred / Mezz typically between 70-90% of the capital required in a transaction. It is treated as a junior position to the senior mortgage. However, it is a senior position to sponsor equity.
Insurance Companies, Finance Companies, Debt Funds, Private Capital
Up to 5 yrs. (typical), longer terms on a case by case basis
Returns / Structure
Up to 90/10 with waterfalls & promotes
Ideal for experienced Sponsors. GP equity available for select tranactions
Note: Terms above are a general representation and are not applicable to all transactions. Actual terms will vary by transcation, property type or lender.
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