With the lower LTVs offered by senior lenders these days, it may be tempting to look at preferred equity and it may make sense since technically it is cheaper than LP equity, but also keep in mind they have a higher liquidation preference (obviously) but will often want all the cashflow (or a majority of it) to come to them before the LP investors and will also want large reserves, so make sure you model out the cashflows and understand the end-to-end deal with the preferred equity investors.We have some institutional investors with whom we did a combination of a pref and JV deal and it worked quite well for everyone including them and the LP investors.

I am interested in doing the same as the OP.I can't at the moment but I would recommend you contact lookup a loan broker in your area who specializes in out of the box lending.

Does anyone do SRO deals? Looking for long term financing on a couple of deals in Newark.

But the city has risks too: historic tanneries, dry cleaners, gas stations, garages, workshops, any kind of industrial use - always be suspicious of what people did with chemicals back in the 50s and 60s when the general population had no awareness of the damage I just had to turn down a small development  10  house's or 20 detached as phase 2 found chemicals for the Filbert orchard ( Filberts are hazelnuts ) that was planted 30 years ago.the soil had to be dug down 1 to 2 feet analyzed and hauled to special dump at 3X normal dump fee's.. there is a reason why we do phase 1 and phase 2 and just dont buy this dirt and take on those liabilities.. now to be fair this is for lending purposes is someone want to buy it the county / city would not require the phase 1 or 2 but you take on going risk of someone suing the pants off of you in the future.

Learning Private Lending: In April 2019, I took a class on private lending that changed the game for me.

Hi Justin,Happy to connect on the lending side. 

There were some challenges along the way with the lending process but I was able to provide all of the documentation required and close on time.

I'd suggest finding the top sub-institutional brokers, building relationships with them, and letting them know what you're looking for.

What you’re trying to accomplish is possible but circumstantial, what I mean by that is you’ll have to review the lending paperwork to see what events change the course of your traditional loan.

. - Referrals and resources: Identifying an investment prospect is one thing, the due diligence, lending and team required to successfully close and mange it are another story.