Retail
- Anchored centers
- Power centers
- Shadow-anchored and specialty centers
- New construction or value add acquisition
Residential
- Multifamily
- Student housing
- Single-family residential
- Hotels
- Class A or B projects
- New construction or value add acquisition
Net Leased Properties
- Acquisitions of single-tenant, restaurant and retail properties
- Build-to-suit development for national restaurant and retail chains
Markets
- Nationwide with a focus on major metropolitan areas and higher growth regions
Preferred Equity Investment
- $3 to $10 million (We will consider deals outside of this range)
Deal Structure
- Developer partner obtains construction loan, necessary entitlement, permits and approvals.
- Captec's equity typically funds simultaneously with the closing of the construction loan.
- Captec is a limited partner in a limited partnership or a non-managing member in a limited liability corporation and takes an assignment of the general partner’s or managing member's interest in the project.
- The developer provides any guarantees required by the lender.
- The developer guarantees development costs and construction completion to Captec.
- Captec funds up to 95% of the project equity depending on various underwriting variables such as pre-leasing, tenant credit quality, current cash flow and market conditions.
- Captec earns a preferred return on its equity invested.
- After capital is repaid, profits are distributed between developer and Captec (varies by transaction).
- Investment horizon: two to four years.