Perseus Realty Partners L.L.C. has launched a new participating loan program that will provide one-stop shopping for a total of up to $1 billion in financing for office, retail, industrial and multi-family projects nationwide. PRP president Paul Dougherty (pictured) told CPN that his company is looking for deals in three general categories: new development; acquisition for renovation or rebranding; and total recapitalization, for projects facing maturity defaults. Regarding that last category, Dougherty commented, \u201cI think we\u2019ll see a lot of those over the next 24 months.\u201d The company specializes in preferred, joint-venture and mezzanine equity, Dougherty said, and the participating loan program is intended as a full capital stack solution offering up to 95 percent loan-to-cost financing for qualifying developers. The program is aimed at properties with a total capitalization between $20 million and $75 million, and its investment window is expected to be between 18 to 24 months. In a prepared statement, Dougherty said, \u201cThe objective of this new program is to deliver a very timely and attractive solution to fill the senior debt financing void in the middle market left by the exodus of Wall Street, traditional banks and CMBS lenders\u2026. There currently are numerous well-conceived development and redevelopment projects in strong markets that could be moving forward successfully, except that developers and operators don\u2019t have sufficient liquidity to proceed.\u201d Dougherty told CPN that PRP likes developers that are vertically integrated and focused on a specific geographic area and\/or a specific product type. And he expects interest in PRP\u2019s new program to be brisk: \u201cWe\u2019re getting phone calls already,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Perseus Realty Partners L.L.C. has launched a new participating loan program that will provide one-stop shopping for a total of up to $1 billion in financing for office, retail, industrial and multi-family projects nationwide. PRP president Paul Dougherty (pictured) told CPN that his company is looking for deals in three general categories: new development; acquisition…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003829817","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n