Two Groups. Small-balance multifamily group based in Irvine, CA. This second group is the former Amherst team that joined a few months ago in NY to focus on bridge lending.
- Markets: Top 50 MSAs nationwide. Not lending in Hawaii or Nevada.
- Deal Types: Bridge for now, will add construction shortly once they have the infrastructure.
- Loan Sizes: $15M to $60M
- Asset Types: All major asset types. Not interested in land or data centers.
- Leverage: Up to 75% LTC
- Pricing: Targeting SOFR + 3% to 4%
- Recent Deals: They just signed up a couple MHC acquisitions and have term sheets out on hotel and industrial refinances.
- Competitive Advantages: They're a bank that's not IRR driven and will hold this loan on their balance with no need for back-leverage.
