CAPITAL STRUCTURE: PREFERRED EQUITY
Balance sheet lender offering non-recourse preferred equity for multifamily core-plus and value-add investments nationwide.
Check Size: Minimum $15MM
Max Senior Loan for core-plus: <70% of all in costs
Max Senior Loan for value-add: <75% of all in costs
LTC for core-plus: 60-85% of total project costs
LTC for value-add: 70-90% of total project costs
Rate for core-plus: Fixed (starting at 8.5%); partial accrual
Rate for value-add: Fixed (starting at 10%); partial accrual
Term: Up to 5 years
Waterfall scenario: 7% to preferred equity, 7% to common equity, pro-rata thereafter
Recourse: Non-recourse with standard bad-boy carve-outs
Use: Core-plus and value-add investments
Property Types: Multifamily
Geography: Nationwide
Balance sheet lender offering non-recourse preferred equity for multifamily core-plus and value-add investments nationwide.
Check Size: Minimum $15MM
Max Senior Loan for core-plus: <70% of all in costs
Max Senior Loan for value-add: <75% of all in costs
LTC for core-plus: 60-85% of total project costs
LTC for value-add: 70-90% of total project costs
Rate for core-plus: Fixed (starting at 8.5%); partial accrual
Rate for value-add: Fixed (starting at 10%); partial accrual
Term: Up to 5 years
Waterfall scenario: 7% to preferred equity, 7% to common equity, pro-rata thereafter
Recourse: Non-recourse with standard bad-boy carve-outs
Use: Core-plus and value-add investments
Property Types: Multifamily
Geography: Nationwide