| First lien | Sub-debt | |
|---|---|---|
| Geography | Nationwide | Nationwide |
| Loan amount | $5-$50MM | $5-$25MM |
| Term | 2-5 Years | 2-5 Years |
| Eligible collateral | Multifamily, Office, Hospitality, Industrial, Retail, Mixed Use. Other property types considered on a deal by deal basis. | Multifamily, Office, Hospitality, Industrial, Retail, Mixed Use. Other property types considered on a deal by deal basis. |
| Lien position | First Mortgage | B-Note, Mezz, Pref Equity |
| LTV | Up to 80% | Up to 90% |
| Amortization | Interest Only | Interest Only |
| Interest rates | Competitive | 10% and up |
| Index | LIBOR | LIBOR |
| Org fee | 1% of loan amount | 1% of loan amount |
| Exit fee | 1% of loan amount | 1% of loan amount |
| Minimum interest | 12-18 months | N/A |
| Future funding | Flexible lease-up and CapEx reserve | N/A |
| Guarantee | Non-recourse except for "bad boy"carve outs. Full recourse on a case by case basis. | Up to 100% of the equity ownership interests in the related property Borrower (s) and "bad boy" carve outs. |
| Closing | Generally 45 days or less | Generally 45 days or less |
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