Lending Programs

We provide senior and mezzanine financing solutions for experienced and active sponsors throughout the United States.  Financing all major commercial asset classes including retail, office, industrial, multi-family and select hospitality and special-use transactions, we provide certainty of execution, creativity, flexibility and speed to our borrower clients.  We are primarily focused on financing complicated, highly structured real estate transactions and providing bridge loans on opportunities that fall outside the capability of more traditional lending sources.

 

Transaction Types

  • Acquisitions
  • Recapitalizations
  • Refinancing
  • Discounted payoffs (DPOs)
  • “Lease-ups”
  • Note Purchases
  • Quick Close
  • Major Renovations or Conversions
  • Broken Condo Projects

 

Loan Product Parameters

Bridge / Senior Mezzanine
Loan Amount $5 to $50 million $5 to $20 million
LTV/LTC Up to 60-75% Up to 85%
Interest Rate 7%+: Ability to accrue/PIK interest 10%+: Ability to accrue/PIK interest
Loan Term 2-3 years including extensions Up to 5 years

Additional Guidelines

  • Property Types: Primarily office, industrial, retail, hospitality, multi-family and special-use assets
  • Prepayment: Open to prepayment subject to yield maintenance
  • Geographic Areas: Top 50 MSAs in the United States
  • Recourse: Non-recourse subject to standard market carve-outs
  • Minimum DSCR: Ability to finance negative cash flowing property
  • Loan Costs: Borrower shall provide a refundable deposit upon mutual term sheet execution
  • Amortization: Not required for most transactions

Contact Us at Calmwater

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