General parameters

• First trust deed or senior secured mortgage finance
• Loans remain on balance sheet
• Asset management duties performed in-house
• Location: nationwide
• Loan amount: $5 million – $40 million
• Leverage:
  • Up to 85% LTC on multi-family
  • 80% on office, industrial and retail
  • 75% on hospitality
• Interest rate: Term SOFR + 295 to Term SOFR + 600
• Term: 2 – 5 years
• Yield maintenance: 12 – 24 months
• Origination: 0% at close, 1% – 2% upon exit
• Non-recourse with standard “Bad Boy Carve Outs”
• Sub 1.0 DSCR accepted, min debt yield not required
• Reserve accounts are future funded and do not accrue interest until funded
• Time to close as short as 30 days from application