Finance opportunistic acquisitions that are out of the box for traditional lenders or require higher leverage than regulated lenders will fund
Provide capital for retenanting, renovating or expanding properties
Increase leverage to reduce equity requirement or to enhance return on owner's equity
Cash out equity to create liquidity or buy out partners
Refinance or purchase existing loans
Property types:
Retail (unanchored or anchored) or office properties preferred
Loan structures:
First or second mortgage/deed of trust
Typically 90+% of total cost on acquisitions, development, or value-added deals (including all renovation, lease-up and transaction expenses), or 85% LTV on refinancing
$1-5 million loan amount
1-4 year term, with prepayment flexibility
LIBOR-based note rate (pay rate may be fixed below note rate)
Will accept lower note rate in exchange for participation interest
