Bridge & Mezzanine Finance

Loan Amount
$5,000,000 minimum

Loan Term
Generally 1 to 3 years
Extension options available

Amortization
Determined on a case-by-case basis

Minimum DSCR
0.90 “As Is”
1.20 – 1.25 at exit
Waving  DSCRs requirements considered if payment supported by pre-funded interest reserves.

LTV
Up to 75%

LTC
75% as measured by new cash equity in the transaction

Interest Rate
Floating rate over LIBOR index Spread varies based on risk and terms

Recourse
Standard carve-outs

Eligible Property

Multifamily, office, retail, industrial, hospitality and student housing projects located in strong markets with positive demographic, population and employment trends

Sponsorship
Established track record and verifiable liquidity corresponding with the transaction

Security
First mortgage lien on subject property with limited recourse

Tax and Insurance Escrows
Monthly deposits required

Replacement Reserves
Monthly deposits required

Prepayment
Typically permitted