Subordinate financing criteria
Loan Amount
$2 - $150+ million
Interest Rate
SOFR + 400 - 900 basis points
Loan Term
Up to 48-months with extension options available
Amortization
Depends on structure, typically partial principal with interest installments or interest only
Asset Types
Office, Retail, Industrial, Hospitality, Multifamily, Self-Storage, Mixed-Use, Senior Housing/AL
Loan Scenarios
Acquisitions, construction, refinances, etc.
Security
Second lien position
Loan-to-Value
Up to 75%
Loan-to-Cost
Up to 90% last dollar in some scenarios
Origination/Exit Fees
Typically 100 - 200 basis points
Recourse
Full or non-recourse options
Geographical Focus
Throughout the Continental US, certain markets excluded
Prepayment
Typically permitted subject to a lockout period or prepayment premium
Closing Time
As quickly as two weeks