Multi-Family High Leverage Preferred Equity
| Amount | $5–30 million |
| LTC (Loan-to-Cost) | 90% Maximum |
| LTV (Loan-to-Value) | 85% Maximum on stabilized value |
| Underwriting | No DY constraints going in |
| Minimum DY | 6.5% on stabilized NOI |
| Term | Co-terminus with senior financing |
| Preferred Return | 8% |
| Accrual Return | 4–9% depending on leverage |
| Structure – Hold | Pay rate from cash flow and capitalized reserve if needed |
| Liquidity Event | 100% net proceeds to accrual, then principal, balance to Sponsors/LP |
| Closing Fees | Based on timing to close, size, and risk; generally 2–3% |
| Exit Fees | None |
| Asset Details | 1965 vintage and newer |
| Markets | National |
| Demographic | Household income within 80% of national average |
| Fannie & Freddie | Will structure to accommodate agency criteria |
| Deal Types |
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