SENIOR DEBT

An efficient debt execution is one where the financial strategy and structure are complementary to the business strategy of the borrower. The position of an asset in its life cycle will dictate the structure and nature of the corresponding financing.

We source, structure and close the following senior debt loans:

  • •  Construction loans for development deals

  • •  Permanent financing for stabilized assets

  • •  Bridge loans for transitional opportunities

  • •  Credit facilities for fund or loan leverage

$40MM Ground Lease Portfolio | Credit Facility | Virginia

 

We maintain ongoing relationships with a large variety of senior debt providers including:

  • Commercial Banks / Credit Unions

  • Life / Casualty Insurance Companies

  • Pension Plans

  • Credit Companies

  • Mortgage REITs

  • Real Estate Private Equity / Hedge Funds

  • Union Funds

  • CMBS/CDO/CLO/CMO Conduits

  • SBA/SBIC

  • HUD/FNMA/Freddie Mac in the US & CMHC in Canada

 

$38MM Retail Shopping Center | Permanent Loan | Miami, FL

  

Construction loan nuances to be negotiated:

  • Level of guarantees (completion and/or principal/interest)

  • Presale/Preleasing requirements

  • Lockout/Prepayment clauses

  • Timing of equity contributions by the sponsor

  • Release provisions

  • Amount and allocation of budgeted contingencies

  • Additional credit support

  • Treatment of land equity vs. cash investment

  • Syndication requirements

  • Timing and percentage of retainage for contractor and subs

  • GMP versus other construction contracts

$81MM Intown Condos/Rentals | Construction Loan | Miami, FL

  

Bridge and permanent loan nuances to be negotiated:

  • Reserve requirements

  • Escrow calculations

  • Amortization terms

  • Interest only periods

  • Discount points

  • Debt yield requirements

  • Loan maturity

  • Prepayment penalties

  • Assumability & assignment options

  • Holdbacks vs. earn-out future funding

  • Title, estoppel, insurance requirements

$20MM 1st Phase Office to Hotel Conversion | Bridge Loan | Miami, FL