PREFERRED EQUITY PROGRAM

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

Tombstones

Nordhoff Plaza

Investment amount: $7M

Location: Chula Vista, CA

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The Family Center at Ogden Five Points

Investment amount: $15M

Location: Ogden, UT

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The Village at Medford Center

Investment amount: $100M

Location: Medford, OR

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Huntington Beach Redevelopment

Investment amount: $9M

Location: Upland/Claremont, CA

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Rancho Del Rey Center

Investment amount: $3.5M

Location: Portage, MI

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