Jay Street Capital (JSC) originates and structures debt investments secured by income-producing real estate assets. These investments include whole loans or first mortgages, B-Notes or junior interests in first mortgages, mezzanine loans, construction loans and preferred equity interests.

Debt Criteria

Core Debt

• Non-recourse first mortgage product with advance rates up to 85% of total costs
• Typically used for acquisitions, refinancing or repositioning of commercial real estate properties
• Commitments up to $150 million with 3 - 7 year terms
• Treasury-based fixed rate or LIBOR-based floating rate

Mezzanine Debt

• Secured by an assignment of borrower's 100% equity interest in commercial real estate properties.
• Typically used in acquisitions, developments, redevelopments, recapitalizations or refinancing where there is a significant value creation opportunity that requires proceeds in excess of available/existing first mortgage debt
• Commitments up to $50 million with terms ranging from 3 - 5 years
• Returns targeted on a deal-by-deal basis

Preferred Equity

• Commitments up to $50 million with terms ranging from 3 - 5 years
• Similar to Mezzanine Debt in terms of the capital structure position, this program is best suited for acquisitions repositions and recapitalizations
• No intercreditor agreement is required
• Within the context of the partnership agreement the terms include a mandatory redemption date, LIBOR-based preferred returns with accrual features and return targets on a deal-by-deal basis