Security Types First Mortgages, B-Notes, Senior or Junior Participations, Mezzanine Loans, Preferred Equity

Investment Size Ranges from $10MM to $150MM+

Security Types First Mortgages, B-Notes, Senior or Junior Participations, Mezzanine Loans, Preferred Equity

Property Types All property types, including subordinate debt for construction

Geographic Locations Throughout the United States (no “red lined” markets)

Term 3-5 years on average for senior loans up to 10 years for mezzanine loans / preferred equity

Target Returns/Pricing

First Mortgage Loans

Floating rate loans (generally over a SOFR floor), with market competitive pricing, depending on

asset type and risk

Mezzanine Loans/Preferred Equity

Floating rate loans (generally over a SOFR floor), depending on asset type and risk

Closing Time Frame Typically 30 days with a track record of closing in shorter time lines

Non-Recourse Non-recourse, except for standard “bad-boy” carveouts and depending on circumstances

other credit enhancements