INVESTMENT PARAMETERS
Equity Size: $500,000 to $5,000,000
Geography: Western US preferred (CA, OR, WA, UT, NV, AZ)
Collateral: Preferred Equity
Maximum LTV: 75% of stabilized value
Maximum LTC: 90%
Appraisal: None required
Recourse: Standard partnership carve outs
Term: 2 to 3 years
Interest Rate: 12% to 15%
Fees: 1% in 1% out
Prepayment Penalty: Open after 1 year
Time to close: As short as 5 days
Servicing: In House
Approval Process: LBG Principals only, full discretion
Transaction Types:
- Opportunistic acquisitions
- Discounted Note acquisitions
- REO/Distressed mortgage recap
- Partnership buyout
- Renovations/TI buildout
Property Types:
- RETAIL preferred; particularly for reuse or adaptive reuse!!
- All property types considered
- Assets don’t need to be cash flowing
- Will consider infill, zoned, land
Contact: Leslie Lundin
