Typical Terms

Senior Bridge, Construction and Land Loans

Geography

Focus on the Northeast Corridor, other Eastern and Sunbelt markets considered

Property Types

All major asset classes considered

Purpose

Bridge, Ground-up Construction, Land acquisition & Pre-development

Loan Size

$1MM – $15MM [up to 75% going-in LTC possible, target 65% as-stabilized LTV]

Interest Rate

Starting at 9.0% [Fixed or Floating over SOFR]

Lender Fees

Origination: 1%- 2% – Exit: 0% – 1%

Structure

Loan Term: 3 to 36 months – Flexible pre-payment – Interest Only

Recourse

Typically non-recourse, varies by transaction

Closing

15 to 30 days after receipt of all Due Diligence materials

General

Considered along similar deal parameters to above

Purpose

Acquisition, Bridge, Construction

Max Leverage

80%+ LTC/V considered

Interest Rate

Starting at 14%

Lender Fees

Origination starting at 1% – Exit starting at 1%

Mezzanine Loans and Preferred Equity investments considered along similar deal parameters

– Acquisition, Bridge, Construction – Leverage: 80%+ LTC/V considered

– Interest Rate: Starting at 14% – Lender Fees: Starting at 1%-in / 1%-out

Aaron Prager

Originations