- Location: HQ in Boston, MA
- Markets: Nationwide including select tertiary markets.
- Deal Types: Bridge. No ground-up construction.
- Loan Sizes: $15M to $75M, but most are $25M to $50M.
- Asset Types: Most property types except for office, senior housing, land, and special-use (e.g. marina).
- Leverage: They've gone up to 80%, but most are 70-75%.
- Pricing: SOFR + 3.00% and up.
- Recourse: Non-recourse
- Recent Deals:
- $17.5M for Springhill Suites in Scottsdale, AZ
- $19.5M for shopping center in Palm Desert, CA (expiring grocer)
- $30.5M for MOB in Atlanta, GA
- $37.3M for student housing in College Park, MD
- Competitive Advantages: Leverage and they're a balance sheet lender with in-house asset management, i.e. not a CLO group with a servicer
