| 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. |
