Partnership
Deal Criteria

Partnership Value

 

As co-sponsors we can assist with any of the following:

• Loan guarantor:  Net worth and liquidity

• Experience: Multiple 300+ unit deals with Fannie and Freddie

• Securities documents and compliance

• Escrow account(s) for capital raise

• Co-sponsor branded portal

• Deal / entity structuring

• Tax Strategy and Preparation

• Asset management

• Investor Relations

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Capital Solutions

• Capital raise: Up to $8mm

• In-house loan brokerage

• Preferred equity relationships

• Short term loans to assist with closing

   

Property Criteria

• A or B Class: 1990s or newer in A or B class neighborhood

• Neutral to Positive Leverage:  Loan rate < cap rate, or clear path w/in 1 year

• C class only compelling if positive leverage day one and clear path to 1.25 DSCR w/in 12 months

• Growth market (past and projected population, jobs, rents)

• Must be 3rd party managed by a reputable management company

• Will consider development with a warrior who is a developer or is well connected to one the developer on the project.

• If Student housing:  Above criteria plus:

  • School enrollment must have positive enrollment trends

  • Must be within 1 mile of campus

  • No heavy value add/renovation

  

We Are Not Interested In:

• Condo structures or part of a larger property unless we are in control of the association.

• Hotel or office conversion to MF.

• Restaurant or retail unless it is part of a mixed use development and there is a national credit worthy tenant with a long term lease.