Full-service mortgage banking firm becomes small-balance mezzanine lender
Franklin Street Capital Advisors (FSCA) has launched a proprietary small-balance mezzanine loan program. In addition to offering direct mezzanine loans, FSCA also specializes in the placement of first mortgage debt and equity solutions.
“With the amount of CMBS debt maturing during the next couple of years, we saw an opportunity to provide sophisticated investors a solution in the event of a refinance shortfall,” said Danny York, president of FSCA. “There are very few institutions providing small balance mezzanine loans. Our platform and infrastructure allows us to provide this type of product, where others may be unable to.”
FSCA is interested in providing mezzanine loans for all property types, with an emphasis on multifamily and retails, in the Southeast. The small balance mezzanine loan program features loans of $500,000 to $5 million; terms of three to five years; and carries interest rates of 12 to 15 percent, depending on the quality of asset, the sponsor, the loan-to-value ratio and the debt-service coverage ratio.
FSCA works with clients to develop, optimize and implement plans that enable them to achieve more, retain more and profit more by taking a proactive and knowledgeable approach to arranging debt and equity for income-producing real estate investments.
About Franklin Street: Franklin Street is a family of real estate companies focused on delivering value-added solutions to meet the evolving needs of our clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please see the company’s website at FranklinSt.com.