Non-recourse balance sheet lender $20-$250 million First Mortgage and Mezzanine (Office, industrial, multi-family, retail, flagged hospitality)
- Relationship oriented portfolio lender
- Flexible, non-recourse first mortgage debt
- Loans held on balance sheet; not secured or sold
Popular lender providing borrowers short-to-medium term balance sheet capital for property acquisitions and recapitalization of existing assets. Loans up to 75% LTV/LTC for core to value-add transitional assets with the ability to structure for vacancy and lease-up. Hands-on, flat and flexible credit committee tailoring transactions to meet the needs of complex business plans.
Lending Parameters
Loan size $20-$250 million
Loan First Mortgage and Mezzanine
Product types Office, Industrial, Multi-Family, Retail, Flagged Hospitality
Geography United States
Loan term 2 to 10+ years
Loan to Value/ Loan to Cost Up to 75% LTV/LTC
DSCR Requirements Existing DSCR’s below 1.0x are acceptable
Interest rates/ Coupons 3.00%-5.00% (first mortgage); 6.00%-11.00% (mezzanine)
Loan fees Typically 1.00% of the loan amount
Recourse Non-recourse financing
Amortization Interest Only
Here is a great example of a lender who can fund an office building, industrial, multi family, retail, and flagged hospitality from 20m to 250m.
