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Approach

How we work

Five principles shape every engagement, whether we are structuring a deal or reviewing one.

01 — Principles

Principles

1

We start from what has to be true. Before the model gets detailed, we identify the few assumptions the deal depends on and test those first.

2

Models are built to be challenged. The audience for a model is a credit committee. It should hold up when someone else pushes on it.

3

We say so early when a deal doesn't work. An early no saves a sponsor time and money. It is often the most useful thing we deliver.

4

The downside decides. A structure is only as good as how it behaves when things go wrong.

5

One side of the table. We never represent both sides of a deal.

02 — Structures

Structures we work with

  • HUD 221(d)(4)
  • Ground leases and sale-leasebacks
  • C-PACE
  • Historic tax credits
  • Opportunity Zone equity
  • Preferred equity
  • Joint-venture and fund waterfalls
  • Construction and bridge debt

Every capital stack is different. In a first conversation we learn where your project stands and give you a straight read on whether we can help. There's no cost to learn more.

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