Capital advisory that fits the money to the business plan

Two ways clients use Capital Advisory

Some clients want a team to run the whole capital search. We design the stack, build the package, put the deal in front of the capital sources that fit it, and compare and negotiate the term sheets with you through closing.

Others already have a plan and need the right connection. We pressure-test the numbers, tighten the story, and make sure the deal reaches the right capital source the first time.

Either way, you get the same thing: a capital stack that fits your business plan, and a team on your side of the table.

What is a capital stack?

The capital stack is every layer of money that funds a property, ordered by who gets paid first. At the bottom is senior debt, the cheapest and safest layer. Above it can sit mezzanine debt and preferred equity, which cost more because they take more risk. At the top is common equity, your money and your partners', which is paid last and earns the upside.

Getting the stack right means enough leverage to hit your returns, without so much that a rate move, a slow lease-up or an insurance spike puts the property at risk. Build a sample stack in the visualizer below.

Capital types we work with

• Bank and credit union debt: often the lowest cost for stabilized properties and strong sponsors, usually with recourse
• Agency debt: long-term, often non-recourse financing for stabilized multifamily and some specialty housing
• Bridge debt: shorter-term loans for value-add, lease-up or repositioning plans, priced for speed and flexibility
• Construction and development capital: land, pre-development and vertical construction financing
• Private capital and debt funds: flexible lenders for transitional, complex or time-sensitive deals
• Life company and CMBS debt: long-term, fixed-rate options for stabilized, well-located assets
• SBA-eligible financing: for owner-users buying the building they operate from
• Mezzanine debt, preferred equity and JV equity: gap and partnership capital that fills the stack between the senior loan and your equity

What we help you finance

• Acquisitions of multifamily, hospitality, industrial, retail, NNN and mixed-use
• Refinances and cash-out refinances, including loans facing maturity
• Value-add business plans that need bridge capital
• Construction and development, from land to vertical
• Recapitalizations and partner buyouts using preferred or JV equity

How lenders size your loan

Most commercial loans are capped by whichever test binds first: loan-to-value (LTV), debt service coverage ratio (DSCR) (NOI ÷ annual debt payments) or debt yield (NOI ÷ loan amount). We run all three before the deal goes out, so there are no surprises at term sheet.

Today's market rewards preparation: clean trailing financials, a credible rent roll, realistic insurance and tax numbers, and a sponsor story. We build that package with you.