Commercial real estate debt for $2M to $100M. Maturities, refinances, and new capital.
We structure and place debt across agency, bank, HUD, CMBS, bridge, and construction for multifamily, industrial, retail, self-storage, mixed-use, medical office, and hospitality sponsors. One desk, the full institutional stack.
Agency, bank, HUD, CMBS, bridge, and mezzanine. The full institutional stack.
One desk structures the whole capital stack, so the senior loan, the gap capital, and the permanent take-out are designed together instead of assembled piecemeal.
Conventional Bank / Credit Union
Bank & Credit UnionConventional senior debt from regional and national banks and credit unions for stabilized and transitioning assets. Full-recourse and non-recourse structures, floating and fixed, with relationship-based pricing for sponsors with operating history.
- Floating or fixed rate
- Recourse or non-recourse
- Stabilized and transition assets
CMBS / Conduit
CMBS / ConduitSecuritized fixed-rate senior debt for stabilized commercial real estate. Non-recourse with standard carve-outs, interest-only periods available, and competitive spreads for clean, leased-up assets across multifamily, industrial, retail, and office.
- Fixed rate, non-recourse
- Stabilized assets
- Interest-only available
New Construction
HUD 221(d)(4)Government-insured construction financing for market-rate, affordable, and substantial-rehab multifamily. Non-recourse, fully amortizing, fixed rate for the life of the loan, with construction and permanent in a single closing.
- Non-recourse, FHA-insured
- Up to 40-year amortization
- Construction + permanent in one close
Acquisition & Refinance
HUD 223(f)Insured permanent financing for the purchase or refinance of existing multifamily, including green and energy-reduction overlays. Non-recourse, 35-year term, fixed rate, high LTV, built for long-term hold.
- Non-recourse, FHA-insured
- 35-year term and amortization
- High LTV, fixed rate
Healthcare Finance
HUD 232 / LEANInsured financing for assisted living, skilled nursing, and memory care: acquisition, refinance, new construction, and substantial rehabilitation. Built for the operating and regulatory complexity of senior care.
- Assisted living, SNF, memory care
- Acquire, refinance, or build
- Non-recourse, fixed rate
Agency Multifamily
AgencyFreddie Mac and Fannie Mae financing for stabilized and value-add multifamily. Fixed or floating, non-recourse, with streamlined acquisition and refinance programs and defined paths for value-add and lease-up.
- Freddie / Fannie DUS
- Stabilized and value-add
- Non-recourse
Value-Add Bridge
BridgeSenior bridge for time-sensitive acquisitions, repositioning, recapitalizations, and lease-up. Fast, flexible, asset-based structures for sponsors who need to move before permanent capital can, with a defined take-out path.
- Acquisition & repositioning
- Lease-up and recapitalization
- Short-term, speed to close
Mezzanine & Preferred Equity
Mezz / PrefGap capital behind the senior loan to reach the leverage a deal requires. Structured to sit cleanly in the stack and preserve sponsor equity while closing the financing gap that senior debt alone can't cover. [LEGAL REVIEW REQUIRED]
- Sits behind senior debt
- Higher-leverage gap capital
- Stacked with agency or conduit
[LEGAL REVIEW REQUIRED]
Stabilized Take-Out
PermanentAgency, FHA, or conduit permanent financing for stabilized assets. Rate-and-term refinance of bridge or construction debt into long-term, fixed, non-recourse capital that locks in the sponsor's basis.
- Agency / FHA / CMBS
- Long-term, fixed rate
- Refinance bridge or construction
Ground-Up Construction-to-Perm
ConstructionEnd-to-end capital for new-build multifamily and healthcare, from land and soft costs through construction, converting to permanent agency or HUD debt once the asset is stabilized and leased.
- Land through stabilization
- Draw-based construction
- One path to permanent
Self-qualify before you pick up the phone
These are the metrics we review first. If you're in the ballpark on all four, your deal is likely a fit for this desk.
Up to 75–80% LTV on agency and HUD permanent; 65–75% on bridge and CMBS, asset and sponsor dependent.
1.25x minimum for agency permanent; 1.30x+ for conventional bank; lower thresholds on bridge with a credible take-out.
8–10%+ for stabilized permanent; 10%+ typical on bridge. We position the file to the most forgiving execution it can clear.
5–10+ years for permanent agency, HUD, and CMBS; 1–3 years for bridge with a defined take-out into permanent.
We review, engage, place, and close
Call and review the project
We get on a call with you and review the project together. The asset, the sponsorship, the operating history, and the exit. We tell you honestly whether it fits this desk and where it sits in the market today.
Start the engagement
We take the deal on, build and position the file the way an agency, bank, or HUD lender needs to see it, and structure the senior debt, bridge, mezzanine, and preferred equity into one capital stack.
Place it
We go direct to our FHA/HUD MAP, Freddie/Fannie DUS, bank, conduit, and institutional lender network. The right lender for the deal, not a single balance sheet that forces the deal to fit.
Close
We drive the transaction through closing and into the permanent take-out, managing the timeline, the stipulations, and the path from bridge to long-term capital until it is funded.
Example transaction structures
Illustrative structures only. These are examples of how transactions are structured, not completed Rinia transactions. Actual terms depend on the asset, sponsor, and lender.
Refinance maturing bank or bridge debt into long-term fixed-rate insured permanent financing, with cash-out for renovations while locking a 35-year amortization.
Refinance an operator's maturing bridge loan into insured healthcare permanent debt, with an energy-reduction overlay that can improve the overall terms.
Bridge capital funds a renovation and lease-up; once stabilized and rents pushed, the sponsor takes out into a permanent agency loan at full leverage.
Construction capital from land and soft costs through completion, converting to permanent agency debt upon lease-up and stabilization.
Permanent fixed-rate financing for a stabilized, leased-up asset, with interest-only periods and competitive spreads for clean cash-flowing property.
Conventional senior debt priced off a banking relationship, suited to sponsors with operating history and clean financials.
Illustrative structures only. Not completed Rinia transactions.
Direct access across executions, one structure
Direct lender access across executions
We work with FHA/HUD MAP lenders, Freddie/Fannie DUS channels, banks, credit unions, and CMBS conduit desks, so your deal reaches the people who actually write the checks, not a middleman.
Whole-stack structuring
Senior, mezzanine, and preferred equity in one conversation, so you're not managing three separate capital providers with conflicting timelines.
Sponsor-focused, not product-pushed
We structure around your deal and exit, then find the lender. Never the other way around. The capital fits the deal, not the reverse.
From bridge to permanent
We don't just place the first loan. We design the path to the permanent take-out from day one, so the structure has an exit built in.
A quick refinance read-out before you talk to a lender
Enter your as-is value, stabilized NOI, and current balance. We'll show an indicative proceeds range by execution, a DSCR indication, and a rough timeline.
Enter an as-is value and NOI to see the read-out.
Capital markets questions
What deal sizes do you take in capital markets?+
Our capital markets desk starts at $2 million, with a sweet spot of $5 million to $40 million and the ability to place up to $100 million with capital partners. Investor real estate under $3 million lives on our investor finance desk.
Which executions and asset classes do you cover?+
Agency, bank and credit union, HUD/FHA, CMBS/conduit, bridge, construction, and mezzanine. We work across multifamily, industrial, retail, self-storage, mixed-use, medical office, limited-service hospitality, and healthcare and senior housing.
Are HUD and agency loans non-recourse?+
Yes. HUD 221(d)(4), 223(f), and 232 loans, and standard agency multifamily loans, are non-recourse subject to standard carve-outs. We walk you through the carve-outs before you commit.
How long does HUD or agency financing take to close?+
HUD transactions typically take longer than bridge, often several months for full processing and firm commitment. Agency permanent and bank loans can move faster. We give you a realistic timeline up front and stage the deal accordingly.
Can you combine bridge and permanent in one plan?+
Yes. For value-add and ground-up deals we often structure a bridge or construction facility with a defined take-out into permanent agency or HUD debt once the asset is stabilized.
Do you work with the sponsor's existing broker or advisor?+
We can. We frequently co-originate or partner with other brokers and advisors on the capital markets side. Reach out and we'll work out the right structure for everyone.
Tell us about the asset, the sponsorship, and the exit
The more we can see up front, the faster we come back with a realistic path. We never ask for credit score, personal income, net worth, or debt amounts on this form.