Myrtle Beach, SC

Capital Stack

Challenges

• Sponsor purchasing homes @ CO; conventional underwriting constrained leverage (un-trended NOI)
• Desire for a flexible credit facility to take down homes in separate tranches at delivery
• ed full equity injection up front thus puCommercial banks requirshing down overall project level returns

Silvercrest Solutions

• Sourced Senior Bridge Lender (debt fund) in CA to set up a broader facility with the flexibility to underwrite leverage at stabilized NOI (accretive to return profile)
• Negotiated a pari passu funding structure for each tranche allowing for maximum flexibility
• Arranged a broader sponsor facility across multiple projects, allowing for certainty of execution on future funding needs