CAPITAL STRUCTURE: BRIDGE LOAN
Closed end fund not dependent on the CLO market and utilizing lower leverage credit facilities has avoided mark-to-market & margin calls provision.
Property type: Multifamily, multi-tenant Industrial in infill locations, CBD and/or transit-oriented Office, performing Hotels on a very select basis.
Check size: $10 – $75MM
Leverage: Up to 75% LTV on post-COVID pricing.
Rates: 5.5% – 6.0% over LIBOR with a .50% floor
Fees: 0% in w/ 1%-1.5% exit
Term: Up to 3 years
Amortization: Interest only
Future Funding: Holdbacks for renovations and “good news”
Uses: Acquisitions, Recapitalization, and Repositioning