CAPITAL STRUCTURE: Preferred Equity
Check size: Minimum ~$15M
Target returns: Mid – teens IRR (returns driven by fees, floors, structure)
Hold period: Aligned with senior loan maturity; typically 2 – 5 years depending on business plan
Use: Lease-up, recapitalizations, and other transitional or value-add
Property type: All major CRE except data centers; prefers Class A quality; selective on office & hospitality
Geography: Top 40 U.S. markets
PREFERRED EQUITY
Institutional investment manager seeking high-quality transitional deals
Fund manager with flexible current/full accrual pay structure seeking to deploy preferred equity into the heads-in-beds sector
CAPITAL STRUCTURE: Preferred Equity
Check size: $15M+
Target returns: Low to mid teens IRR
Hold period: Coterminous with senior loan
Rate: UST + 150bps+
Use: Bridge, construction, lease-up, and select value-add opportunities
Property Type: Multifamily Class A/B/C, Single-Family-Rental, Build-for-Rent, Select Student Housing
Geography: Major MSAs across the Mid-Atlantic, Southeast, Florida, Texas and Mountain West
Fund manager offering participating preferred equity for value add opportunities
CAPITAL STRUCTURE: Preferred Equity
Check Size: $1M – $20M (Up to 90% of the capital stack)
Target Returns: ~8.5% preferred plus a 35% profit share
Hold Period: Typically 3–5 years, with flexibility for longer holds
Property Type: All income producing properties
Use: Acquisition & recapitalization
Flexible equity across the capital stack — from JV equity to preferred equity with double-digit returns.
CAPITAL STRUCTURE: Preferred Equity
Property Type: Multifamily, For-Sale Housing, Student Housing, and Senior Housing
Use: Ground-Up Development
Check Size: $15M–35M (can stretch up to ~$40 million); typical total project size $100–150M
Target Returns: 6.5–7.0% untrended Yield on Cost
Hold Period: 3–5 years
Geography: Nationwide
