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PROPERTY TYPES:
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· Office
· Multifamily
· Retail
· Mixed-Use
· Industrial
· Hotels
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TARGET SIZE:
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$5 to $25 million, greater in portfolio situations
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MAXIMUM LEVERAGE:
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85% of transaction value
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TERM:
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1 to 5 years; terms greater than 5 years will require amortization
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RATE:
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Various rate structures available, including fixed and floating, full coupon and pay/accrue, and preferred return with profit participation. The overall rate is dependent upon the risk profile of the investment.
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TARGET INVESTMENTS:
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· Conservative LTV and/or DSCR
· Value-Add Situations with Realistic Business Plans and
Strong Sponsorship
· Structured High Yield Opportunities
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COLLATERAL:
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· Mezzanine loan secured by pledge of equity interests
· Preferred equity in select situations
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CALL PROTECTION:
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Early repayment subject to yield or spread maintenance, and/or exit fees
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RECOURSE:
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Subject to standard carve-outs
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INTERCREDITOR AGREEMENT:
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Standard intercreditor agreement required
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GEOGRAPHIC COVERAGE:
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Atlanta - Mid-Atlantic and Southeast
Chicago - Central
Denver - West
New York - Northeast
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