Innovative Solutions. Proven Expertise.
REAL ESTATE MERCHANT BANKING
Dekel Correspondent Lending (DCL) focuses on the origination of loans for commercial real estate acquisitions, refinances, and recapitalizations. Through our capital partnerships, we provide borrowers with short-term, floating-rate capital and long-term, fixed rate capital for acquisitions and recapitalizations of existing assets. As the real estate market evolves and becomes more competitive, DCL seeks to capitalize on situations wherein financing proves complex or limited and the underlying dynamics present a unique situation for both our borrowers and our partners. We leverage institutional capital partnerships, decades of experience, and flexibility to execute quickly across projects.
Through our correspondent lending programs, we offer a variety of non-recourse loans $5 million and larger on all property types including single-family to rent, multifamily, industrial, self-storage, mobile home, office, retail, and mixed-use properties in all markets across the United States. We provide the creativity and ability to structure the entire capital stack of commercial real estate debt including senior notes, B-notes, mezzanine notes, and preferred equity.
Minimum Loan Size $20,000,000
Term 5, 7, and 10 Years
Asset Types Class A Multifamily, Industrial, Self-Storage
Max LTV 67.5%
Amortization Amortization and Full-Term IO
Prepayment Flexible Pre-Pay (Step-Down, Open Period), Yield Maintenance
Minimum Loan Size $5,000,000
Term 5, 7, and 10 Years
Asset Types Multifamily, Industrial, MHC/RV, Hospitality, Retail, Office, Self-Storage
Max LTV 70%
Amortization Amortization and Full-Term IO
Prepayment Yield Maintenance, Defeasance
Minimum Loan Size $35,000,000
Term 2-5 Years
Asset Types Multifamily, SFR, Industrial, Hospitality, Retail, Office, Self-Storage
Max LTV 70%-75%
Amortization Full-Term IO
Prepayment Yield Maintenance
Minimum Loan Size $5,000,000
Term 5, 7, and 10 Years
Asset Types SFR, BFR
Max LTV 70.0%
Amortization Amortization and Full-Term IO
Prepayment Flexible Pre-Pay (Step-Down, Open Period), Yield Maintenance
Dekel Correspondent Lending, in conjunction with our capital partner BMO, was able to accomplish the recapitalization of a fractured-condominium asset in which the borrower did not control the HOA. Although this presented challenges, we were able to structure a creative solution to successfully close on the transaction. The deal was sourced through Newmark’s Los Angeles office.
PURPOSE Recapitalization
ASSET TYPE Condominiums
UNITS 133
LOAN AMOUNT $13,000,000
LOAN TO VALUE 65%
The property was built in 2014 in a highly accessible and amenitized location south of Salt Lake City. Although of high quality, the property required a small renovation plan to capture higher market rents.
PURPOSE ACQUISITION FINANCING
ASSET TYPE SFR TO RENT
UNITS 174
LOAN AMOUNT $56,000,000
LOAN TO VALUE 70.0%
Constructed during the height of COVID-19, the Property suffered below-market rents. We worked with the Sponsor to structure creative credit enhancements to compensate for low in-place debt yield.
PURPOSE ACQUISITION FINANCING
ASSET TYPE CLASS A MULTIFAMILY
UNITS 106
LOAN AMOUNT $25,000,000
LOAN TO VALUE 65.0%
The property was built in 2014 in a highly accessible and amenitized location south of Salt Lake City. Although of high quality, the property required a small renovation plan to capture higher market rents.
PURPOSE ACQUISITION FINANCING
ASSET TYPE CLASS A MULTIFAMILY
UNITS 92
LOAN AMOUNT $23,075,000
LOAN TO VALUE 65.0%
Managing Director, Head of Correspondent Lending
mobile: +1.310.701.0453
e-mail: vvanjani@dekelcapital.com