Pref equity

Sample Pref equity Tear sheet

Solution-driven commercial real estate lending for middle market,

transitional properties and special situations

Typical Loan Terms

Amount

$20MM to $200MM

Stretch Senior

$10MM to $100MM

Mezz or debt-like Pref

Purpose

Construction

Conversion

Land

Pre-development

Rescue

Property Type

Multifamily, BTR,

Condo, Mixed Use,

Senior, Student,

RV, MHP, Land,

Commercial

All US,

including

secondary and

tertiary locations with

strong sponsors

Location

Rate

SOFR + 6% to 15%

Stretch Senior

SOFR + 10% to 18%

Mezz or debt-like Pref

%

Term

12-36 months

with extension

options

3 - 6 weeks

from approval,

typically limited by

the speed of

third parties

Timeline

Leverage

70% - 95%

With credit support

required at the

higher levels