Gabe Einhorn
@gabeeinhorn
Just underwrote a $13.2M mixed-use acquisition in Charlotte, NC. 18K SF of retail + 44 apartments. Retail was 50% vacant. Apartments were stable but under market. Sponsor wanted to minimize equity in, lease up, and refi in 12–18 months. Here’s how we structured the debt: Option 1: 75–80% LTC → Higher rate, tighter covenants Option 2: 70–75% LTC → Mid-rate, faster draw, flexible terms Option 3: 60–65% LTC → Fixed rate, lowest cost, full recourse Each structure fits a different strategy. This one’s still in play, but the sponsor now has a real game plan. Hit me up to talk more about real estate!
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Garrett
@garrett
Are you getting a debt placement fee here for doing the underwriting? How are you fitting into this deal?
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Gabe Einhorn
@gabeeinhorn
Yes, we charge a 1% fee of the total loan amount, only at the closing of the loan
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Garrett
@garrett
Gotcha, makes sense I'm always curious how people fit into real estate deals bc there seems to lots of different structures and potential ways to participate in a deal
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