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Bridge Financing
Links Capital Partners is an active provider of bridge loans secured by senior liens on real estate. Loans range from $10.0 million to $100.0 million and are typically for a term of 1 to 3 years. LCP's loans include interest coupons, which can be structured as current pay or accrual, and amortization schedules ranging from interest only to fully amortizing. LCP financing can be used by owner/operators of real estate (i) to complete new acquisitions or build-to-suit developments; (ii) to develop commercial projects which are anticipated to stabilize over a 2-4 year period; (iii) to repurchase existing debt from current lenders, often at a discount; (iv) to acquire existing performing and non-performing mortgages collateralized by real estate; (v) to recapitalize existing assets, including partnership buyouts and (vi) to fund plans of reorganization or debtor-in-possession loans.
| Bridge Loans |
| Loan Size: |
$10 to $100 million |
| Maturity: |
Up to 4 years |
| Amortization: |
Varied. Typically interest only. |
| Security: |
1st Mortgage lien |
| LTC: |
Up to 85% |
| Interest Rate: |
as low as 10% |
| Upfront Fees: |
Between 1% and 3% |
| Lockout: |
Negotiable |
| Equity Participation: |
None |
| Closing: |
As fast as 3 weeks |
| Property Types: |
All |
| Recourse: |
Generally non-recourse |
| Uses |
| Acquisitions |
| Recapitalizations |
| Value add repositioning |
| Construction |
| Repurchase of Existing Debt |
| Refinance asset based lenders |
| Short term sale/leasebacks |
| DIP Financing |
Mezzanine Financing
Links Capital Partners is an active provider of mezzanine loans secured by either a junior lien on real estate or a pledge of the ownership interests in a property owning entity. Loans range from $10 million to $50 million and are typically for a term of 2 to 4 years. LCP's loans include interest coupons, which can be structured as current pay or accrual, and amortization schedules ranging from interest only to fully amortizing. LCP financing can be used by owner/operators of real estate (i) to complete new acquisitions or build-to-suit developments; (ii) to develop commercial projects which are anticipated to stabilize over a 2-4 year period; (iii) to repurchase existing debt from current lenders, often at a discount; (iv) to acquire existing performing/non-performing mortgages collateralized by real estate; (v) to recapitalize existing assets, including partnership buyouts and (vi) to fund plans of reorganization or debtor-in-possession loans.
| Mezzanine Loans |
| Loan Size: |
$10 to $50 million |
| Maturity: |
Up to 4 years |
| Amortization: |
Varied. Typically interest only. |
| Security: |
Pledge of ownership and/or a 2nd lien. Intercreditor agreements are typically required. |
| LTC: |
Up to 90% |
| Interest Rate: |
as low as 14% |
| Upfront Fees: |
Between 1% and 3% |
| Lockout: |
Negotiable. |
| Equity Participation: |
Negotiable. |
| Closing: |
As fast as 3 weeks |
| Property Types: |
All |
| Recourse: |
Generally non-recourse |
| Uses |
| Acquisitions |
| Recapitalizations |
| Value add repositioning |
| Construction |
| Repurchase of Existing Debt |
| Refinance asset based lenders |
| Short term sale/leasebacks |
| DIP Financing |
| Note Purchases |
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