Project Types: Ground-up construction and repositioning/value-added transactions preferred. Existing stabilized property acquisition and refinance also considered.
Property Types: Residential multi-family or for-sale projects preferred. Industrial, office, retail and land development projects also considered.
Property Location: Throughout the continental U.S.
Investment Amount: Up to $10,000,000 with a preference for transactions between $1,000,000 to $5,000,000.
Term: 1 to 4 years
Capital Structure: Up to 85% of equity requirement.
Preferred Return: Flexible structures, reflective of property type and risk. Preferred return accrued to exit date.
Fees and Profit Participation: Origination fee, exit fee and cash flow/sale/refinance profit participation, reflective of risk and target IRR.
Documentation: Senior lender acknowledgement of Preferred Equity investment.
Security: Secured by equity interest in property ownership entities.
Control Rights: Accelerated control of entity, buy/sell provision and approval of major decisions.
Sponsorship: Strong track record and acceptable level of liquidity.