Fill the gap in your capital stack with competitive mezzanine debt and preferred equity structures. Independent advisory with no ties to any capital source — we work for you.
Every deal has layers. Senior debt provides the foundation, but maximum leverage requires filling the gap with mezzanine debt or preferred equity. We help you structure the entire stack.
Traditional lenders max out at 60-70% LTV. That gap between senior debt and your equity leaves money on the table and forces you to give up more control.
Mezzanine and preferred equity solutions let you:
We source and structure the right solution for your deal, with competitive terms and experienced capital partners.
Subordinated loans that sit between senior debt and equity, secured by a second lien on the property or a pledge of the operating company.
Preferred equity structures provide subordinated return priority while avoiding senior debt restrictions. Tax-efficient alternative to mezzanine loans.
We connect developers with institutional and private equity partners for joint ventures on acquisitions, development, and value-add plays.
Custom capital solutions for complex deals that traditional lenders won't touch — A/B notes, participation loans, and hybrid structures.
These are the deals where mezzanine and preferred equity unlock value and speed execution.
Buying a stabilized asset at market cap rates? Senior debt only gets you to 65-70% LTV. Mezzanine closes the gap so you can own more of the deal with less equity required.
AcquisitionsConstruction loans have a loan-to-cost limit, and perm loans take 90+ days to close. Mezzanine bridges the construction-to-permanent transition, paying off from perm takeout.
ConstructionAfter repositioning a property, the NOI has grown and the perm lender will give more leverage. Preferred equity lets you pull cash without additional senior debt leverage.
RecapsNeed to buy out a partner or bring in a new equity sponsor? Preferred equity or JV structures let you add capital without breaking existing senior debt covenants.
Equity TransitionsGround-up development often needs bridge financing early, then mezz to cover cost overruns and soft costs. Preferred equity takes you through lease-up.
DevelopmentRefinancing 5-10 properties at once? You might have LTV gaps or timing mismatches. Preferred equity lets you unlock value across the whole portfolio.
PortfolioWe have zero financial incentive to push mezzanine on you if senior debt makes more sense, or to favor one capital source over another. We work for you — not the lender's quota.
Whether you need gap funding, higher leverage, or a creative capital structure — we'll find the solution that works.