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RP Realty Partners, LLC provides short-term floating rate and fixed-rate debt for retail and mixed-use properties throughout the United States. Proceeds may be used for bridge financing, construction, lease-up and stabilization, re-development, turnaround situations, repurchase of existing debt, and discounted note acquisitions. Loans are typically LIBOR based, with terms of five years or less. Assets are held on RP Realty Partners’ balance sheet and serviced internally. We will also acquire B-pieces, purchase sub-performing and non-performing loans, and make mezzanine loans embedded in a senior loan which we either originate or acquire the B-piece, thus allowing clients the ability to "one-stop shop" when higher leverage is needed or timing requires a single-source solution.
General
| Maturity: |
5 years or less |
| Pricing: |
LIBOR + Spread; Structured as current pay, accrual or combination
Fixed rates considered |
| Upfront Fees: |
1.0% - 2% for First Mortgage Loans; 1% - 3% for Mezzanine Loans |
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Exit Fees: |
Fees, if any, negotiated case by case depending on leverage and risk |
| Amortization: |
Interest only to fully amortizing |
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Lockout: |
Negotiable, typically 12 months |
| Recourse: |
Non-Recourse / Partial Recourse / Full Recourse |
First Mortgage Loans
| Amounts: |
$5 million to $50 million |
| Security: |
1st Mortgage lien |
| Maximum LTC: |
90% |
| B Notes: |
15% - 30% of overall 1st Mortgage; Minimum Investment $5.0 million |
Mezzanine Loans
| Amounts: |
$5 million to $50 million |
| Security: |
Junior lien on underlying real estate and/or 100% pledge of ownership interests
Inter-creditor agreements typically required |
| Maximum LTC: |
90% |
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© Copyright 2007, RP Realty Partners, LLC. All rights reserved.
California Finance Lenders License - pending. California loans will be made pursuant to Department of Corporations California Finance Lenders License.
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