Capital Advisory
Types of Capital for Commercial Real Estate
Debt, Equity and Alternative Capital explained for growing CRE firms, with the terms to expect and how Reina Property Group's investment team raises each one.
How we work
Capital Starts With the Business Plan
Growing CRE firms rarely lack deals. They lack an institutional capital markets team to fund them. Reina Property Group fills that seat, raising debt and equity for multifamily, hospitality and commercial real estate with total capitalizations from $5 million to more than $100 million.
Underwritten Like an Investor
Our background is investment banking and real estate private equity. We underwrite each deal the way the lender or LP will, before it goes out.
Sourced Across the Market
Banks, Debt Funds, Agencies, Life Companies, Family Offices and Institutional LPs, matched to the ones actively funding your strategy.
Structured as One Stack
Senior Debt, subordinate capital and equity negotiated together, so intercreditor terms, Waterfalls and approvals line up.
The Capital Stack
Where Each Source Sits
Every layer is repaid in order. The higher the layer, the lower its risk and cost. The lower the layer, the more it earns and the more control it expects.
Lowest costRepaid last
Highest return
Percentages show typical shares of total capitalization. Every deal is structured differently.
Find your fit
Capital by Situation
Start with where the deal is today. These are the sources we most often put to work in each case.
Stabilized Acquisition or Refinance
In-place cash flow and a long hold.
Value-Add or Lease-Up
Renovation, repositioning or occupancy still to build.
Ground-Up Development
Construction risk and a long timeline.
Loan Maturity or Recapitalization
A loan coming due or a partner exiting before the plan is done.
Hospitality
Hotels, from select service to resort.
Affordable and Workforce Housing
Income-restricted or naturally affordable units.
At a glance
Nineteen Ways to Fund a Deal
Debt
Usually the largest and least expensive part of the Capital Stack. The right loan depends on whether the property is stabilized, in transition or under construction.
Bridge Loans
Short-term, floating-rate debt for properties that are not yet ready for Permanent Financing.
- Value-add and repositioning plans
- Lease-up and recently completed construction
- Maturities that need time before a permanent refinance
Bridge Loans finance a business plan rather than in-place cash flow: a value-add renovation, a lease-up, a property coming out of a maturity, or an acquisition that needs to close before it stabilizes. Lenders underwrite the projected value and typically fund renovation dollars over time through a future funding facility.
Most Bridge Capital comes from Debt Funds, mortgage REITs and some banks. Loans are interest-only, floating over SOFR with a rate cap, and carry extension options tied to debt yield or debt service coverage tests. When the plan is complete, the property refinances into Agency, CMBS or Bank Debt, or is sold.
- Property types
- Multifamily, hospitality, industrial, retail, office
- Loan size
- $5M to $100M+
- Leverage
- Up to 75 to 85% of cost; about 70 to 75% of stabilized value
- Rate
- Floating, spread over SOFR; rate cap usually required
- Term
- 1 to 3 years, plus one-year extensions
- Amortization
- Interest-only
- Recourse
- Non-recourse with standard carve-outs
- Prepayment
- Minimum interest period, then open
- Time to close
- 30 to 60 days
Extension tests and rate cap costs. A plan that runs six months long can turn a good loan into a forced refinance, so we size the timeline before we size the proceeds.
Hard Money Loans
Asset-based loans that trade cost for speed and certainty.
- Contract deadlines and quick closings
- Distressed, vacant or hard-to-finance assets
- Discounted note or auction purchases
Hard Money lenders focus on the real estate and the exit rather than the borrower's financial statements or the property's current income. That lets them close in one to three weeks, on assets and situations conventional lenders avoid: heavy vacancy, title or tenancy issues, partial completion, or a buyer who needs to beat a contract deadline.
The cost is higher interest, origination points and lower leverage. Hard Money is a short bridge to something better, so the refinance or sale has to be clear before the loan closes.
- Property types
- All, including land and distressed assets
- Loan size
- $500K to $25M
- Leverage
- 60 to 75% of value
- Rate
- Fixed, priced well above bank and Bridge Debt, plus points
- Term
- 6 to 24 months
- Amortization
- Interest-only
- Recourse
- Often full or partial recourse
- Prepayment
- Usually open; some minimum interest
- Time to close
- 1 to 3 weeks
The exit. Hard Money only works with a clear, near-term path to cheaper debt or a sale, so we line up the takeout before recommending it.
Conventional Bank Loans
Balance sheet loans from banks and credit unions, often priced on the full relationship.
- Ground-up construction
- Smaller balances and local relationships
- Borrowers who value flexibility over leverage
Banks and credit unions lend from their own deposits and keep the loan on their books, so they can be flexible on structure, timing and future funding. They are the primary source of Construction Loans and are often the most competitive lender for smaller balances and local markets.
In exchange, banks lend at more conservative leverage and usually require a full or partial guarantee, financial covenants and sometimes deposit relationships. Recourse can often burn off once the property stabilizes.
- Property types
- All major property types, including construction
- Loan size
- $1M to $75M+
- Leverage
- 55 to 70% of value; 50 to 65% of cost on construction
- Rate
- Fixed or floating; often swapped to fixed
- Term
- 3 to 10 years
- Amortization
- 25 to 30 years; interest-only during construction
- Recourse
- Full or partial, sometimes burning off at stabilization
- Prepayment
- Step-down schedule or swap breakage
- Time to close
- 45 to 75 days
Guarantees, covenants and deposit requirements. These often matter more than the rate, and they are negotiable when a bank wants the relationship.
CMBS Loans
Fixed-rate, non-recourse loans that are pooled and sold to bond investors.
- Stabilized assets held through the loan term
- Hotels and property types with fewer lender options
- Maximizing non-recourse proceeds
Commercial mortgage-backed securities lenders originate loans with the intent to pool them into a securitization. Because the risk is sold to bond investors, CMBS can offer higher leverage and fixed rates on stabilized property types that banks and Life Companies are cautious on, including hotels, retail and office.
After closing, a master servicer administers the loan and a special servicer steps in if it defaults. Terms are standardized, so modifications are harder than with a portfolio lender, and early payoff typically requires defeasance or yield maintenance.
- Property types
- Stabilized multifamily, hospitality, retail, office, industrial, self storage
- Loan size
- $5M to $500M+
- Leverage
- Up to 75% of value, sized on debt yield and DSCR
- Rate
- Fixed, spread over swaps or Treasuries
- Term
- 5, 7 or 10 years
- Amortization
- 30 years; partial or full interest-only available
- Recourse
- Non-recourse with standard carve-outs
- Prepayment
- Defeasance or yield maintenance
- Time to close
- 60 to 90 days
Prepayment. Defeasance can be expensive if you sell or refinance early, so CMBS fits owners who plan to hold through the term.
Life Company Loans
Low-leverage, long-term fixed-rate loans from insurance companies.
- High-quality, stabilized assets
- Long-term holds and low-leverage owners
- Locking a fixed rate ahead of closing
Life insurance companies invest premiums to match long-term liabilities, so they lend on high-quality, well-located properties with experienced, well-capitalized owners. In return for lower leverage, they often offer the lowest fixed rates in the market, long terms and flexible features such as forward rate locks.
Allocations are set annually and appetite shifts by property type and market, so a deal that one Life Company passes on may be a fit for another. Knowing who has room in a given quarter is most of the work.
- Property types
- Core multifamily, industrial, retail and office in strong markets
- Loan size
- $5M to $250M+
- Leverage
- 50 to 65% of value
- Rate
- Fixed, spread over Treasuries; often the lowest available
- Term
- 5 to 30 years
- Amortization
- 25 to 30 years; interest-only at lower leverage
- Recourse
- Non-recourse
- Prepayment
- Yield maintenance
- Time to close
- 45 to 75 days
Allocation. Appetite shifts by year, market and property type, so we know which lenders still have room before the deal goes out.
HUD/FHA Loans
Government-insured multifamily loans with the longest fixed-rate, non-recourse terms available.
- Long-term multifamily holds
- Affordable and rent-assisted housing
- Construction with a Permanent Loan built in
The Federal Housing Administration insures multifamily loans made by approved HUD lenders, which allows long, fully amortizing, fixed-rate financing at high leverage. The two most common programs are 221(d)(4) for new construction and substantial rehabilitation, and 223(f) for acquisitions and refinances of existing properties.
The tradeoff is process. HUD Loans require detailed third-party reports, Davis-Bacon wages on construction, annual mortgage insurance premiums and a review that can take many months. They suit owners planning to hold for the long term.
- Property types
- Multifamily, affordable, senior housing and healthcare
- Loan size
- $3M+ with no hard maximum
- Leverage
- Up to 85% market-rate; 87% affordable; 90% with rental assistance
- Rate
- Fixed for the full term, plus an annual insurance premium
- Term
- 35 years (223(f)); up to 40 years plus construction (221(d)(4))
- Amortization
- Fully amortizing
- Recourse
- Non-recourse
- Prepayment
- Typically a declining 10-year schedule
- Time to close
- 6 to 12 months
| Program | Use | Max leverage | Term |
|---|---|---|---|
| 221(d)(4) | New construction and substantial rehab | Up to 85 to 90% of cost | Construction plus up to 40 years |
| 223(f) | Acquisition or refinance of existing properties | Up to 85 to 90% of value | Up to 35 years |
Timeline. The approval process is long and document-heavy, so HUD fits owners who can carry the deal, often on Bridge Debt, while it runs.
Credit Tenant Lease Financing
Loans underwritten on the tenant's credit rather than the building.
- Investment-grade single-tenant assets
- Build-to-suit development
- Long-term wealth building over current income
Credit Tenant Lease financing is used on single-tenant properties leased long term to an investment-grade tenant. Because the lease payments service the loan, the lender underwrites the tenant's credit rating and lease, not the real estate value, which can support leverage near 100% of value.
The loan typically amortizes over the lease term, so the owner receives little current cash flow and owns the property free and clear at lease expiry. The lease usually needs to be absolute net, with the tenant responsible for taxes, insurance and repairs.
- Property types
- Single-tenant net lease: retail, industrial, office, medical
- Loan size
- $5M to $200M+
- Leverage
- Up to 100% of value
- Rate
- Fixed, priced off the tenant's credit
- Term
- Matched to the lease, often 10 to 30 years
- Amortization
- Fully amortizing over the lease term
- Recourse
- Non-recourse
- Prepayment
- Make-whole
- Time to close
- 45 to 90 days
Cash flow and lease terms. Any landlord obligation in the lease can reduce proceeds, so we review the lease before sizing the loan.
SBA Loans
Government-guaranteed loans for owner-operated businesses, including hotels.
- Owner-operated hotels
- First-time hotel owners with operating experience
- Maximizing leverage on an operating business
The U.S. Small Business Administration guarantees a portion of loans that banks and certified lenders make to small businesses. For real estate, SBA Financing is used when the owner operates the business in the property. Hotels qualify because the owner operates the hotel business.
The two main programs are 7(a), a general-purpose loan with a guarantee from the SBA, and 504, which pairs a bank first mortgage with a fixed-rate SBA debenture. Both require personal guarantees and have program size limits and fees.
- Property types
- Owner-occupied hotels and commercial property
- Loan size
- Up to $5M on 7(a); larger total projects on 504
- Leverage
- Up to 85 to 90% of project cost
- Rate
- 7(a) floats over Prime; 504 debenture is fixed
- Term
- Up to 25 years for real estate
- Amortization
- Fully amortizing
- Recourse
- Personal guarantees from 20%+ owners
- Prepayment
- Declining penalty in early years
- Time to close
- 60 to 90 days
| Program | Structure | Rate | Best for |
|---|---|---|---|
| SBA 7(a) | Single Bank Loan with partial SBA guarantee | Usually floating over Prime | Smaller hotel acquisitions and working capital |
| SBA 504 | Bank first mortgage plus SBA debenture | Fixed on the debenture | Larger hotel purchases and construction |
Program limits and personal guarantees. SBA fits operators building a business, not institutional investors who need non-recourse debt.
Fannie Mae Loans
Non-recourse Agency Financing for stabilized multifamily.
- Stabilized multifamily refinances and acquisitions
- Affordable and workforce housing
- Green-certified or energy-improved properties
Fannie Mae lends through Delegated Underwriting and Servicing (DUS) lenders who underwrite and service loans on Fannie's behalf. Financing is available for conventional apartments, affordable and workforce housing, seniors and student housing, and manufactured housing communities, with pricing benefits for green and affordable properties.
Loans are fixed or floating, non-recourse and assumable by a future buyer. Sizing is driven by debt service coverage on in-place income, so the property generally needs stabilized occupancy for at least three months.
- Property types
- Multifamily, affordable, seniors, student, manufactured housing
- Loan size
- Small loans through large portfolios
- Leverage
- Up to 80% of value; sized on DSCR
- Rate
- Fixed or floating
- Term
- 5 to 30 years
- Amortization
- Up to 30 years; interest-only available
- Recourse
- Non-recourse with standard carve-outs
- Prepayment
- Yield maintenance on fixed; step-down or 1% on floating
- Time to close
- 45 to 60 days
Debt service coverage. Agencies size on in-place income, so the timing of a refinance can matter more than the rate.
Freddie Mac Loans
Agency multifamily financing, including a small balance program.
- Stabilized multifamily
- Smaller properties through the small balance program
- Comparing against Fannie Mae terms
Freddie Mac lends through its Optigo network of approved lenders and offers fixed and floating-rate, non-recourse loans on stabilized multifamily. Its Small Balance Loan program is built for smaller properties and has streamlined underwriting.
Fannie Mae and Freddie Mac compete on the same deals and often price differently depending on the market, property and their production goals. Quoting both is standard practice and can meaningfully change proceeds and rate.
- Property types
- Multifamily, affordable, seniors, student, manufactured housing
- Loan size
- Small balance through large portfolios
- Leverage
- Up to 80% of value; sized on DSCR
- Rate
- Fixed or floating
- Term
- 5 to 30 years
- Amortization
- Up to 30 years; interest-only available
- Recourse
- Non-recourse with standard carve-outs
- Prepayment
- Yield maintenance or defeasance; step-down on smaller loans
- Time to close
- 45 to 60 days
Pricing gaps between the two Agencies. We run Fannie Mae and Freddie Mac side by side on every Agency deal.
Mezzanine Debt
Subordinate debt that raises leverage behind the Senior Loan.
- Reducing required equity
- Recapitalizations and maturities
- Senior Lenders that allow subordinate debt
Mezzanine Loans sit behind the first mortgage and are secured by a pledge of the ownership interests in the property-owning entity, not by the property itself. If the borrower defaults, the Mezzanine Lender can foreclose on the ownership interests and take control of the property, usually faster than a mortgage foreclosure.
Mezzanine reduces the equity a CRE firm needs to bring, at a cost well above Senior Debt but below equity returns. The Senior Lender must approve it, and the two lenders sign an intercreditor agreement that governs their rights.
- Property types
- All, alongside a Senior Loan
- Loan size
- $2M to $100M+
- Leverage
- Up to 80 to 90% combined loan-to-cost
- Rate
- Fixed or floating, priced well above Senior Debt
- Term
- Matched to the Senior Loan
- Amortization
- Interest-only; sometimes part accrues
- Recourse
- Non-recourse; secured by the ownership interests
- Prepayment
- Minimum return or lockout period
- Time to close
- 30 to 60 days, alongside the Senior Loan
The intercreditor agreement. Senior and Mezzanine terms have to be negotiated together or the deal stalls at closing.
Equity
Equity fills the gap between the debt and the total cost of the deal. The structure decides how much control and upside the owner keeps.
Preferred Equity
Priority equity that earns a fixed return ahead of the Common Equity.
- Recapitalizations and loan maturities
- Closing a funding gap without a new lender
- Reducing Common Equity while keeping the upside
Preferred Equity sits behind all debt and ahead of the Common Equity. The preferred investor earns a set return, often part current pay and part accrued, plus sometimes a minimum multiple, before the GP and LPs receive profits. Upside above that return usually stays with the Common Equity.
Because it is equity rather than a loan, Preferred Equity can work where the Senior Lender prohibits additional debt. Structures range from hard Preferred Equity, with a fixed redemption date and strong remedies, to soft Preferred Equity that behaves more like Common Equity.
- Position
- Behind all debt, ahead of Common Equity
- Typical share
- 10 to 25% of total capitalization
- Return
- Fixed Preferred Return; current pay and accrual
- Term
- Matched to the business plan, often 2 to 5 years
- Control
- Major decision approvals; remedies on default
- Structure
- Hard or soft Preferred Equity
- Check size
- $2M to $75M+
- Time to close
- 30 to 60 days
Remedies. Preferred investors can take control if the plan slips, so the triggers and cure rights matter as much as the return.
LP Equity
The bulk of a deal's equity, from institutional investors, Family Offices and private funds.
- Acquisitions and developments
- Programmatic partnerships across multiple deals
- Operators scaling into larger deals
Limited Partners typically fund 80 to 95% of a deal's equity, with the operator funding the rest as General Partner. LPs earn a Preferred Return first, then share profits with the GP through a Waterfall, where the GP earns a Promote once return hurdles are met.
LP Equity comes from pension funds and endowments investing through managers, real estate private equity funds, Family Offices, insurance companies and high-net-worth investors. Each has its own check size, return targets, hold period and approval rights.
- Position
- Common Equity
- Typical share
- 80 to 95% of the equity
- Return
- Preferred Return, then a Promote split
- Hold period
- 3 to 7 years for value-add; longer for development and core
- Control
- Passive, with major decision and removal rights
- Structure
- Joint Venture or fund investment
- Check size
- $3M to $100M+
- Time to close
- 60 to 120 days
Fit. We only send a deal to investors actively funding that strategy, market and check size. To test Waterfall structures first, use our free Waterfall models.
Co-GP Equity
A partner who shares the General Partner commitment and the Promote.
- Large GP commitments
- Construction Loans that need balance sheet guarantees
- Operators entering new markets
Co-GP investors fund part of the General Partner's equity commitment, and sometimes share loan guarantees, in exchange for a share of the GP's Promote and fees. It lets an operator take on a larger deal without funding the entire GP commitment alone.
Co-GP capital is also common when an institutional LP requires the GP to have more capital at risk than the operator can fund, or when a developer brings in a partner with a balance sheet to support construction guarantees.
- Position
- Common Equity, inside the GP entity
- Typical share
- Part of the GP commitment, often 5 to 20% of total equity
- Return
- Share of GP returns, Promote and sometimes fees
- Control
- Shared through the GP operating agreement
- Structure
- Co-GP Joint Venture
- Check size
- $1M to $25M+
- Guarantees
- Often shared with the operator
- Time to close
- 30 to 90 days
Sequencing. Promote splits, fees and decision rights should be agreed before the LP raise, since they shape that negotiation.
Alternative Capital
Program-driven sources that can lower the cost of capital or fill gaps traditional capital leaves open, if they are planned for from the start.
LIHTC Equity
Tax Credit Equity for affordable housing.
- Affordable new construction
- Preservation of existing affordable housing
- Mixed-income developments
The Low-Income Housing Tax Credit program awards federal Tax Credits to rental housing that keeps rents and tenant incomes below set limits. Developers sell the credits, usually through a syndicator, to investors such as banks seeking Community Reinvestment Act credit, and the proceeds fund a large share of the project's equity.
Credits come in two forms. 9% credits are allocated competitively by state housing finance agencies. 4% credits are paired with tax-exempt bonds and are available as of right if the project meets bond requirements.
- Use
- New construction and acquisition-rehab of affordable housing
- Compliance
- 15-year compliance period plus an extended use agreement
- Investors
- Banks, corporations and funds, through syndicators
- Allocation
- State qualified allocation plans and funding rounds
| Credit | How awarded | Share of equity | Paired with |
|---|---|---|---|
| 9% credit | Competitive state rounds | Large share of project cost | Soft loans and grants |
| 4% credit | As of right with bonds | Smaller share of project cost | Tax-exempt bonds |
The award calendar. State allocation timing drives the entire Capital Stack, so we build the debt and equity around it.
Historic Tax Credits
Federal and state credits for rehabilitating historic buildings.
- Adaptive reuse of historic buildings
- Downtown multifamily and hospitality conversions
The federal Historic Tax Credit equals 20% of qualified rehabilitation costs on a certified historic structure, claimed over five years. Many states offer an additional credit. Investors buy the credits through a partnership, which turns them into project equity.
Historic Tax Credits are common in adaptive reuse, such as converting mills, warehouses and office buildings into apartments or hotels. The rehabilitation must meet National Park Service standards.
- Federal credit
- 20% of qualified rehabilitation costs
- State credits
- Vary by state; can be combined
- Approval
- Three-part National Park Service review
- Recapture period
- 5 years after the building is placed in service
Approvals. Rehab plans must be approved before construction starts, or the credit is at risk.
Crowdfunding
Online platforms that pool individual investors into real estate deals.
- Smaller equity checks
- Filling the last part of an equity raise
Real estate Crowdfunding platforms raise capital from many accredited or retail investors and invest it as LP Equity, Preferred Equity or debt. They can fill checks that are too small for institutional investors and move quickly once a deal clears their underwriting.
Platforms have their own underwriting standards, fees, reporting requirements and sometimes approval rights, so investor relations takes more ongoing work than with a single institutional partner.
- Structures
- LP Equity, Preferred Equity or debt
- Check size
- Typically $500K to $10M
- Regulation
- Regulation D, Regulation CF or Regulation A offerings
- Timeline
- A few weeks of platform diligence, then the raise
Platform terms and reporting obligations, which continue for the life of the investment.
C-PACE
Long-term financing for energy and resiliency improvements, repaid through property taxes.
- New construction
- Major renovations and repositionings
- Replacing higher-cost subordinate capital
Commercial Property Assessed Clean Energy financing funds qualifying improvements such as HVAC, lighting, building envelope, solar, water efficiency and resiliency upgrades. It is repaid through a special assessment on the property tax bill and stays with the property if it is sold.
Because terms can match the useful life of the improvements, C-PACE is long-term and fixed-rate. On new construction and major renovations it can replace more expensive Mezzanine Debt or Preferred Equity.
- Eligible costs
- Energy, water and resiliency improvements
- Size
- Often 20 to 35% of eligible project cost, by state
- Rate and term
- Fixed, up to 25 to 30 years
- Requirements
- State and local enabling law; mortgage lender consent
Local law and lender consent. Availability varies by state and county, and the Senior Lender typically has to approve it.
EB-5
Capital from foreign investors seeking U.S. residency through job-creating projects.
- Large development projects
- Long construction timelines
The EB-5 Immigrant Investor Program lets foreign nationals qualify for U.S. permanent residency by investing in a project that creates at least 10 jobs per investor. Most capital is raised through regional centers and invested as Mezzanine Debt or Preferred Equity.
EB-5 can be meaningfully cheaper than other subordinate capital, but raises take time, involve immigration compliance, and work best for larger projects with long construction timelines.
- Investment per investor
- $800,000 in targeted areas; $1,050,000 elsewhere
- Job creation
- 10 jobs per investor
- Structure
- Mezzanine Debt or Preferred Equity, often 5 to 7 years
- Timeline
- Often 12 to 24 months to raise
Time. EB-5 capital is rarely available on a short schedule, so it needs to be planned alongside bridge or Construction Financing.
Terms shown are indicative market ranges as of November 2026, not a commitment to lend or invest. Every transaction is priced on its own merits.
How it works
How a Capital Raise Works With RPG
- 01
Review the Business Plan
We start with the property, the plan and the timeline, and agree on the capital the deal actually needs.
- 02
Underwrite the Deal
Our investment team builds the model and stress tests it the way a lender or LP will.
- 03
Prepare the Materials
Offering memorandum, financing package and data room, built for the capital we are targeting.
- 04
Run a Targeted Process
The deal goes to the lenders and investors most likely to fund it, and we manage questions, quotes and term sheets.
- 05
Negotiate and Close
We compare terms side by side, negotiate the documents and stay on the deal through funding.
Questions
Frequently Asked Questions
What types of capital does Reina Property Group raise?
We raise Senior Debt, Mezzanine Debt, Preferred Equity, LP Equity and Co-GP Equity for multifamily, hospitality and commercial real estate, as well as Tax Credit and other program-based capital.
How do I know which type of capital is right for my deal?
It depends on whether the property is stabilized, in transition or under construction, how long you plan to hold it, and how much control and upside you want to keep. Our investment team reviews the business plan and recommends a full Capital Stack.
What is the difference between Mezzanine Debt and Preferred Equity?
Both sit between Senior Debt and Common Equity. Mezzanine Debt is a loan secured by the ownership interests, while Preferred Equity is an ownership stake with a fixed priority return. Preferred Equity is often used when the Senior Lender does not allow additional debt.
What is the difference between a Bridge Loan and a Permanent Loan?
A Bridge Loan is short-term, usually floating-rate and interest-only, and finances a property while a business plan is executed. A Permanent Loan, such as Agency, CMBS or Life Company Debt, is long-term and sized on stabilized income.
What does a commercial real estate capital advisor do?
A capital advisor structures and raises the debt and equity for a real estate deal. That means underwriting the property, preparing the offering materials, identifying the lenders and investors most likely to fund it, running the process and negotiating terms through closing.
How is RPG different from a mortgage broker?
A mortgage broker places a loan. Reina Property Group's investment team underwrites the full deal and raises every layer of the Capital Stack, from Senior Debt through preferred and Common Equity, the way an in-house capital markets team at a larger firm would.
Who does Reina Property Group work with?
Growing CRE firms, operators and developers that need institutional-quality underwriting and capital raising without building a full in-house team, including emerging fund managers and operators scaling into larger deals.
What deal sizes does RPG work on?
Our engagements typically range from $5 million to more than $100 million in total capitalization.
Raising capital
Tell Us About Your Deal
Share the property and the business plan, and our investment team will tell you which capital fits, what terms to expect and who is most likely to fund it. To test structures first, use our free model library.