Deal Room · Current offerings
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Debt
Full-Service Resort · Acquisition + PIP
Hilton Tapatio Cliffs Resort — Phoenix, AZ (North Mountain Preserve · 200+ acres)
Facility $120.6MM · senior + C-PACE
Going-in 5.2% cap · $188K/key
Plan 585 keys → 300 luxury + 165 residences
Stabilized NOI $11.5MM cons. / $12.72MM model
Takeout Yr-4 refi · $108–120MM sized
De-lever $113MM+ residence sell-out
Equity
Resort Reposition + Branded Residences · LP / Preferred
Hilton Tapatio Cliffs Resort — Phoenix, AZ (Hilton flag · Tapestry residences)
Raise $68MM · LP / preferred
Basis $188K/key · 5.2% going-in
Residences 165 · $725–750/SF vs $1,100+ comps
Net basis ~$73MM after sell-out
Yield on basis 15.8% · conservative NOI
Debt ahead 63.6% of cost · no mezzanine
Debt
Multifamily · Ground-Up Construction
Inca Peak Apartments — Rio Rancho, NM (Albuquerque MSA)
Senior ask $28.8MM · 80% LTC
Behind senior $1.8MM pref to 85%
Project 150 units, garden-style
Target pricing SOFR + 5.50% · 36-mo I/O
Stabilized NOI $2,181,667
Exit Dual — sale or perm refi
Debt
Multifamily · Value-Add Bridge
La Provence — Lake Wales, FL (Lakeland MSA)
Senior ask $5.18MM · 73% LTC
Sponsor equity $1.92MM · 27% cash
Project 56 units, garden-style studios
Structure Floating · 36-mo I/O
Stabilized NOI $539,633 · 1.37x DSCR
Exit Refi — $7.7MM stabilized value
Debt
Office · Cash-Out Bridge · Federal Anchor
Airport Plaza — Boise, ID (Treasure Valley)
Bridge ask $7.25MM · 70.8% LTV
Anchor FAA federal lease → 2040
Project 44,571 SF · 10 tenants
Structure SOFR + spread · I/O · 2+1 yrs
Stabilized NOI $674,190 pro forma
Exit Perm refi · $10.24MM stabilized
Debt
Mixed-Use · Senior Bridge Recap · Downtown CBD
21 N Pennsylvania — Indianapolis, IN (across from the Ritz-Carlton site)
Bridge ask $2.25MM · 80% LTC binding
Structure SOFR + 4.50% · I/O · 24 mo + ext
Project 5 luxury resi + national retail anchor
Recourse Full — $6.9MM NW guarantor
Stabilized $238,631 NOI · 1.30x · 10.6% DY
Exit Perm refi · +$305K surplus
Debt
Multifamily · Value-Add Light Bridge
Willow Brook Apartments — Indianapolis, IN (2121 E 52nd St)
Bridge ask $3.77MM · 77.4% LTC
Occupancy 92.2% at acquisition
Project 51 units, garden-style
Structure 36 mo · I/O · partial recourse
NOI lift $351,719 → $517,300 (+47%)
Exit FNMA SBL · $7.39MM stabilized
Equity
Multifamily · Preferred Equity · Stabilized Recap
The Colton — Preferred Equity — Nampa, ID (Boise MSA)
Pref ask $3.0MM · 16% (9 pay / 7 accrued)
Attachment 68.3% → 86.85% combined
Project 60 units · 2024 Class A · 95% occ.
Term 36 + 12 mo · ~16-mo expected hold
Loss buffer 13.15% value decline below pref
Exit CMBS takeout · pref recasts coterminous
Debt
Multifamily · CMBS / Permanent Takeout
The Colton — CMBS Takeout — Nampa, ID (Boise MSA)
Perm ask $11.86MM · DSCR-bound
Debt yield 7.5% at stabilized NOI
Project 60 units · 2024 Class A · 95% occ.
Retires $11.05MM bridge · +$814K surplus
LTV ~73.3% of $16.17MM stabilized
Timing Application by EOY 2026
Debt
Townhomes · Ground-Up Construction
SE 2nd Street Townhomes — Fort Lauderdale, FL (Las Olas corridor)
Senior ask $11.35MM · 81.9% LTC
Structure 9% fixed · 24-mo I/O
Project 5 × 3,400 SF luxury TH · 145 ft waterfront
Coverage 1.06x in-place rent over IO
Sellout $16.9MM at $995/SF
Breakeven $863/SF all-in
Equity
Townhomes · Limited Partner Equity
SE 2nd Street Townhomes — Fort Lauderdale, FL (Las Olas corridor)
LP raise $2.19MM · 90% of equity
Net IRR 31.1% after promote
Multiple 1.72x · 24-mo target
Alignment GP co-invests 10% in cash
Sellout $16.9MM at $995/SF
Calls None after close — build 100% financed
Debt Coming soon
Boutique Condo Development · Senior Construction
Boutique Condo Development — Coconut Grove, Miami, FL
Facility Up to $88MM
Status Coming soon — full memorandum by invitation
Equity Coming soon
Boutique Condo Development + Office Repositioning · LP / Co-GP Equity
Boutique Condo Development + Office Repositioning — Coconut Grove, Miami, FL
Equity raise $19–25MM
Status Coming soon — full memorandum by invitation
Equity Coming soon
Branded Supertall Condo · Co-GP Equity
Branded Supertall Condo — Miami CBD, FL
Co-GP raise $30–40MM
Status Coming soon — full memorandum by invitation
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