LOAN AMOUNT: $10,000,000 and up.

BORROWER: Developer should be experienced.

LOAN TERM: 1 to 5 years, interest only.

INTEREST RATE: 12% TO 15%, typically paid 5% current with the balance to accrue.

EQUITY PARTICIPATION: 35% to 55%.

TYPE: JV Preferred Equity.

PROPERTIES: Multifamily, senior living, office, retail, medical, warehousing, manufacturing, or industrial properties.

LEVERAGE: Up to 97% of the Approved Budget when combined with the senior construction loan and up to 90% of the equity required.

EXIT FEE: Typically between 1% and 3% of the investment amount.

COMMITMENT FEE: Typically between 1% and 3% of investment amount.

SUBMISSIONS: Property and area description • Architectural drawings/renderings • Sources and use of proceeds statement • Information on construction debt • Sponsor’s financial statements • Sponsor/Developer’s CV • Schedule of Recent Properties Developed • Budget • Pro Forma Operating Statement • Appraisal, if available.