Capital Structure: Mezzanine debt

Specialty asset bridge, construction and mezzanine debt
CAPITAL STRUCTURE: BRIDGE LOAN, CONSTRUCTION LOAN, MEZZANINE DEBT
Newly formed finance arm of private equity vehicle seeking to deploy capital for senior housing, medical offices, student/multifamily housing, self-storage.
Check size: $10 - $500MM
LTV: Up to 85% LTV/LTC
Rates: Spreads to LIBOR of 2.5% - 5.5% (first mortgage) or 6.0% - 10.0% (mezzanine/preferred equity)
Term: Up to 7 years
Amortization: Typically interest only
Property type: Senior Housing, Medical Office, Student/Multifamily Housing, Self-Storage
Uses: Development, Acquisitions, Recapitalization
Geography: Nationwide Fees: Up to 2.0%
Non-recourse, subordinate debt and preferred equity platform 
CAPITAL STRUCTURE: MEZZANINE DEBT, PREFERRED EQUITY
A private equity fund has rolled out a new structured product platform focused on smaller check size opportunities.

Check Size: $2-$8MM
LTV: Last dollar exposure of 70-85%
Rate: Low-to mid-teens
Term: 2-5 years
Property type: Primarily office and multifamily, and select industrial assets
Uses: Acquisitions, refinance and recapitalization
Geography: Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Houston and Raleigh
Permanent, bridge and mezzanine loans and preferred equity targeting hotels 
CAPITAL STRUCTURE: PERMANENT LOAN, BRIDGE LOAN, MEZZANINE LOAN and PREFERRED EQUITY
Hotel specialist providing various debt and equity products for select and limited service premium branded assets.

Check size: $5-$100MM for bridge and permanent loans, $1-$10MM for mezzanine and preferred equity
LTV: Up to 85% on bridge and mezzanine, up to 95% on preferred equity
Rate: Starting at 4.5% for senior debt and starting at 12%/13% with potential equity kickers for structured capital
Term: Bridge 2-5 years, mezzanine matched to senior and preferred equity up to 5 years
Property type: Hospitality-only uses, Acquisitions, Recapitalization, Construction Takeout, PIP/Renovation Financing, and Gap Financing
Geography: Nationwide