I'll be interning at a middle-market high-yield debt fund this summer. The fund focuses on originating fixed-rate RE bridge-loans with 12-18 month maturities and first-dollar capital stack position (usually distressed properties or development w/ no existing financing, sometimes comes on as mezz or pref-equity) but does do some one-off corporate deals and deals collateralized by other real assets.
My previous internship experience is on the development side and my school's RE program is geared much more to the asset level and equity side of things than the lender/portfolio side of things, so I'll be stepping out of my realm of comfort/competence when I start.
I am looking for something to sink my teeth into this week (internship starts next week) that will help me be better able to produce early on. Do any monkeys w/ experience in the space, or in RE DCM generally, have any books/tutorials or models that they would be willing to recommend or send?
PM me - I got you covered.
Bumping this because, after rereading, the question may be a bit over-broad and buried in OP.
Few things that would be helpful if someone had an Excel file handy would be:
DIP financing model for property/portfolio w/ multi-tiered capital stack
Yield degradation
Mezz
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