- Capital Market Partners
- Joint venture with Gryphon Real Estate and Fulcrum Lending to provide 5-year fixed-rate stretch senior loans.
- Location: HQ in NYC
- Markets: Primary and secondary MSAs nationwide.
- Deal Types: 5-year fixed-rate loans for stabilized residential properties.
- Loan Sizes: $20M to $80M
- Asset Types: Multifamily, student housing, active adult.
- Leverage: Max leverage is the lesser of 80% LTV and a 1.0x IO DSCR. Best pricing sizes to a 1.15x IO DSCR.
- Pricing: 5-year T+2.25 to 3.25% depending on the deal profile. Rate buydowns are available.
- Amortization: Full-term interest only
- Prepayment: 5,4,3,2,1 step-down
- Recourse: Non-recourse
- Competitive Advantages: Low DSCR sizing for a fixed-rate product.
- Notes: They have $700M of lending capacity this year and are currently under app on $225M that's set to close in 30-45 days.
