- Overview
- Bridge Financing
- Mezzanine Financing
- Note Purchases
- Recapitalization of Existing Ownership
- Corporate Finance
Affiliates
Bridge Financing
Canyon is very active in providing bridge financing collateralized by a senior lien on the underlying real estate. Loans range from $10.0 million to $100.0 million and are typically for a term of 1 to 3 years. Canyon's programs are very flexible and can include interest coupons structured as current pay or accrual and amortization schedules ranging from interest only to fully amortizing. Canyon financing can be used by owner/operators of real estate (i) to complete new acquisitions or build-to-suit developments; (ii) to conclude the recapitalization of existing assets; (iii) to repurchase existing debt from current lenders, often at a discount; (iv) to acquire existing performing/non-performing mortgages collateralized by local properties; (v) to acquire certain equity interests of limited partners in existing partnerships, often at a substantial discount due to the illiquid nature of these interests; (vi) to develop commercial projects which are positioned to produce income within a reasonable period of time; and (vii) to fund plans of reorganization or debtor in possession loans in the context of bankruptcy filings.
Bridge Loans
- Loan Size: $10 to $100 million
- Maturity: Up to 3 years
- Amortization: All
- Security: 1st Mortgage lien
- LTC: Up to 85%
- Interest Rate: as low as 10%
- Upfront Fees: Between 1% and 3%
- Lockout: Negotiable, typically 12 months
- Equity Participation: None
- Closing: As fast as 2 weeks
- Property Types: All
Uses
- Acquisitions
- Recapitalizations
- Construction
- Repurchase of Borrower's Existing Debt
- Refinance asset based lenders
- Short term sale/leasebacks
- DIP Financing
- Refinance asset based lenders
- Short term sale/leasebacks
- DIP Financing
