Financing programs

Transparent criteria from day one.

Equity

Structured / preferred equity & mezzanine

$5M – $150M

Purpose: Acquisitions, refinancing, repositioning, workouts, recapitalization
Term: 3 – 10 years
LTV: Up to 85%
Type: Fixed or SOFR-based floating rate
Amortization: Typically interest-only
Recourse: Non-recourse except for standard carve-outs
Fees: 1% origination, 1% exit
Prepayment: Flexible
Property & geography: Multifamily, retail, office, industrial, hospitality and self-storage in primary and secondary markets throughout the U.S. Multifamily may be structured as a JV pref behind GSE mortgages.

Debt

Bridge loan

$15M – $150M+

Purpose: Acquisitions, refinancing, repositioning, workouts, recapitalization
Term: 3 years, with two 1-year extension options
LTV: Up to 75% stabilized multifamily; up to 70% stabilized commercial and hotel
Type: SOFR-based floating rate
Amortization: Interest-only
Recourse: Non-recourse except for standard carve-outs
Fees: 1% origination, 1% exit
Prepayment: Flexible
Property & geography: Multifamily, retail, office, industrial, hospitality, mobile home parks and self-storage in primary and secondary markets throughout the U.S.

Debt

CMBS loan

$10M – $75M+

Purpose: Acquisition, refinancing
Term: 5 – 10 years
LTV: Up to 75%
Type: Fixed rate
DSCR: 1.30x; 1.20x for select opportunities
Amortization: Up to 30 years; partial and full-term interest-only available
Recourse: Non-recourse except for standard carve-outs
Prepayment: Treasury defeasance after the earlier of two years from securitization or three years from closing; open for the final 90 days
Property & geography: Multifamily, retail, office, industrial, hospitality, mobile home communities and self-storage in primary and secondary markets throughout the U.S.

Agency

Freddie Mac

$5M – $100M+

Purpose: Acquisition, refinance
Term: 5 – 10 years
LTV: 75% on 5–7 year; 80% on 7+ year
DSCR: 1.25x, down to 1.20x in select markets
Rate lock: 60 – 120 days; index lock available
Amortization: Up to 30 years; partial and full-term interest-only; SOFR floating option
Prepayment: Yield maintenance following a 2-year lockout, defeasance thereafter; no penalty in the final 90 days
Programs: SBL, Green Advantage, Value-Add, Lease-Up, Supplemental, MHC, Student Housing
Property types: Multifamily, student housing, manufactured housing communities, cooperative housing, affordable housing
Eligibility: LPs, corporations, LLCs and TICs (max 10). GPs, LLPs, REITs and certain trusts may qualify with conditions. SPE required in most cases; loans under $5M may allow single asset entities. TIC tenants must each be SPEs.

Agency

Fannie Mae

$1M – $100M+

Purpose: Acquisition, refinance
Term: 5 – 30 years
LTV: Up to 80%, varies by asset
DSCR: 1.25x, varies by product
Rate lock: 30 – 180 days; streamlined lock available
Amortization: Up to 30 years
Prepayment: Yield maintenance or prepayment premium
Programs: DUS Small, MAH, Green Rewards, Moderate Rehab, Near-Stabilization, ARM, Supplemental, Fixed, Bond Credit, Student Housing
Property types: Multifamily, student housing, manufactured housing communities, cooperative housing, affordable housing
Eligibility: Minimum 3 months at 90% stabilized occupancy; commitments for pre-stabilized properties may be considered

Equity

GP / LP equity

$7M – $20M

Nationwide, by strategy. Pricing follows the business plan and hold period rather than the asset class alone.

Multifamily

Acquire and reposition or redevelop Class B/C; develop garden-style or podium/wrap; target high-growth secondary markets. Vintage 1980s to early 2000s.

Size: 100–400 units
Equity: $7–20M
Leverage: Up to 70%
Hold: 3–5 yrs

Industrial

Last-mile fulfillment and bulk distribution development or redevelopment in dense urban and underserved gateway submarkets.

Size: 50K–500K SF
Equity: $7–20M
Leverage: Up to 65%
Hold: 3–5 yrs

Office

Acquire and redevelop Class B/C to Class A; convert industrial space to creative office.

Size: 100–200K SF
Equity: $7–15M
Leverage: Up to 65%
Hold: 3–5 yrs

Other asset types

Hotels, grocery and pharmacy-anchored retail, niche assets and distressed situations. Preferred or hybrid equity considered.

Size: <250 keys / <250K SF
Equity: $7–15M
Leverage: Up to 80%
Hold: <3 yrs

All terms are indicative and subject to underwriting, market conditions and capital provider approval. Nothing here is a commitment to lend or invest.

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