Senior Debt

An efficient debt execution is one where the financial strategy and structure are complementary to the business strategy of the borrower. The position of an asset in its life cycle will dictate the structure and nature of the corresponding financing.

$94MM Condominium Development | St. Petersburg, FL

We source, structure and close the following senior debt loans:

Land loans for Pre-development deals
Construction loans for development transactions
Permanent financing for stabilized assets
Bridge loans for transitional opportunities
Credit facilities for fund or loan leverage
Leased Fee and/or Leasehold financing
CTL structures for single-tenant credit deals
Bifurcated A/B notes
Tenant improvements financing

We maintain ongoing relationships with a diverse constituency of senior debt providers including:

Though most borrowers tend to focus on rate, there are many other nuanced key terms to be negotiated.

$40MM Single Family Rental Acquisition | Multiple States

$65.9MM Land Recapitalization | Miami, FL

Construction Loan Key Terms:

Magnitude, counterparty and timing of completion and/or principal/interest, and carve-out guarantees
Basel III structuring requirements
Presale/Preleasing minimums
Lockout/Prepayment clauses
Timing of equity contributions by the sponsor
Release provisions
Amount and allocation of budgeted contingencies
Additional credit support
Treatment of land equity vs. cash investment
Syndication requirements
Timing and percentage of retainage for contractor and subs
GMP versus other construction contracts

Bridge and permanent loan key terms:

Loan maturity
Prepayment penalties
Lockbox provisions
Assumability and assignment options
Holdbacks vs. earn-out future funding
Title, estoppel, insurance requirements