Trinity Street Capital Partners offers mezzanine debt for commercial real estate projects, including new development, bridge opportunities and in conjunction with the TSCP permanent finance program.
Mezzanine debt is subordinate to first mortgage debt and is collateralized the by a borrower’s equity interest in the property. A strong preference is given to transactions where TSCP is providing senior debt.
Loan Amount:
$2MM and up
Loan Term:
5- 10 years
Property Types:
Multifamily, Mobile Home Community, Office, Industrial, Self-Storage, Retail, Hotel
Lien Type:
Pledge of equity interest.
Loan-to-Value:
Up to 90% of appraised value (Subject property type, sponsorship and market)
DSCR:
Minimum of 1.05x
Origination fee:
1% and up
Exit Fee:
None
Prepayment:
Yield Maintenance or Defeasance
Recourse:
Non-recourse, subject to standard carve-outs
