Product and Service Offerings
• Credit Tenant Lease – High-Yield
• Residual Notes
• Bifurcated Ground Lease Notes
• Synthetic Securities
• Project and Energy Securitizations
• Build-to-Suit Developments
• Public-Private Partnerships
CTL financing offers borrowers and tenants the advantage of long-term financing at a favorable fixed rate. CTL financing has been a successful source of real estate financing for decades, and has become increasingly more common given the current limitations of traditional real estate finance markets.
• Loans up to 100% loan-to-value and low debt service coverage
• Loan proceeds calculated based on all available firm term rental payments
• Long-term, fixed-rate loans
• Very competitive rates – based on the credit rating of the tenant
• Assumable debt
• Non-recourse for permanent loans
• Construction / development loans available
• Loan amounts from $2 million+
• Lease defects can often be mitigated via reserves,
These structures are best suited for situations involving both strong investment grade credits and very favorable real estate characteristics. They are designed to provide you with optimal execution, including enhanced leverage, enhanced cash flow and tax risk mitigation strategies.
A2 Notes – Senior secured notes, pari passu to CTL/A1 notes. These notes are typically structured as straight bullets alongside a self-liquidating CTL.
B Notes – Subordinated notes / Mezzanine Debt - subordinate to CTL/A1 notes. These notes can be structured with full coupons, partial coupons and/or accretion.