Direct Lending vs Real Estate Debt
I know DL mainly does secured term loan lending. Does anyone have any color on what real estate debt mainly invests in? Know they do some mezz and mortage debt but not exactly sure beyond that.
Additionally, what are the target IRRs for real estate debt vs DL? Thanks in advance.
Based on the most helpful WSO content, here's what you need to know:
Real Estate Debt Investments:
Target IRRs:
Real Estate Debt:
Direct Lending (DL):
For more detailed insights, you might want to explore specific threads on WSO or consult with professionals in the field.
Sources: Trying to understand the concept of IRR, Interactive Debt Sizing Matrices, Rough mental return calculations?, Is there an ideal spread between Unlevered and Levered IRRs?, Relationship among Cap Rate, IRR, Discount rate and NPV
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