| Most recent Comments - Berkshire Group | ||
|---|---|---|
| Date | Deal | Comment |
| 09/15/2022 | Innovation - Equity | Email sent to Brendon Sullivan -- pwitham |
| 08/27/2020 | Martins View Apartments | Email sent -- pwitham |
| 12/01/2015 | Rivergate - Mezz / Equity | Should hear preliminary feedback on indicative terms within the next week. They have the ability to structure their funds as pure mezzanine financing or preferred equity. -- duke |
| 11/10/2015 | Rivergate - Mezz / Equity | Good call with Jon who runs their debt platform (including their mezz/preferred equity). They can do construction mezz, although they have not done any recently. For equity they target the top 25 MSA\'s, but for mezzanine or preferred equity they are able to expand that to some of the secondary markets, and can work on assets that are Class-A down to Class B-. They really like the DC area and are developing here in the area as well. They can typically go up as high as 90% LTC, but their comfort level is around 85% LTC. They can offer up to 7 year term loans, but can not go much longer due to fund-life issues. From a mezzanine or preferred equity stance, they target $5 million up to $20 million, and their preference is around $10 million. Their cost of capital is 12-14%, they can do fixed or floating rate debt, and can be creative in their structuring of current pay versus accrual. He was interested in learning more about Rivergate, and we have sent over the financial model as well as the market study. -- duke |
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