This document summarizes the commercial loan products and funding programs available from Hedge Fund, a direct private capital provider for commercial real estate assets. Key programs include hard money/bridge loans, CMBS and pre-CMBS loans, distressed asset loans, structured products and equity offerings, and 144A bond securitizations. Eligible property types range from multifamily and retail to industrial, hotels, and special use properties. Loan terms vary depending on the type of project but generally range from $1 million to $200 million, with interest rates from 4.75-9% and terms of 1-25 years.

1. Commercial Loan Products
Hedge Fund is a direct private capital provider for commercial real estate assets. We fund debt
and/or equity structured transactions for unique or difficult situations. We have the ability to
directly fund transactions, or based upon the nature of the project, utilize one of our partner hedge
funds or capital providers. This provides flexibility for you, and allows us to always evaluate each
deal individually and provide the best rate/terms available.
We do not charge upfront fees. We will review and pre-underwrite any transaction at no charge,
and provide you with an initial Term Sheet for your review.
Listed below are some of our loan and funding product guidelines:
Types of Funding Programs Available:
 Hard Money / Bridge Loans ($1MM - $200MM)
 CMBS & Pre-CMBS Loans ($2MM+)
 Distressed Asset Loans (NPN, REO, DIP, etc.)
 Structured Products & Equity ($3MM+)
 144A Bond Securitization ($10MM - $2B+)
 EB-5 Financing
 Sale/Leaseback; Trade Finance; Debt & Equity Capital
Here is a list of the types of properties and commercial assets that we will finance:
Eligible Property Types: Other Assets:
 Multifamily
 Anchored Retail Shopping Centers
 Strip Shopping Centers
 Mixed Use
 Office
 Medical Office
 Residential Condo Complex /
Rehab & Conversion
 Student Housing
 Warehouses / Distribution / Flex
 Industrial & Technology
 Hotel / Motel / Resort / Extend-stay
 Parking Garage & Surface lots
 Self Storage
 Mobile Home Parks
 *Special Use Properties
 Performing & Non-Performing
Notes
 Bulk REO (Residential &
Commercial)
 Debtor-In-Possession (DIP)
 Condo Unit Inventory Loans
 Energy Related Projects (Wind,
Solar, Hydro-electric, etc.)
 Construction/Development
 Sale/Leaseback Arrangements
 Trade Finance (Accounts payable;
invoice factoring; delivery contracts)
 *Special Use: Restaurant/Bar, Car
Wash, Gas Station, Church, Marina,
Auto Repair, Entertainment, etc.)
 SBA 7a & 504 programs

2. Commercial loan terms can vary depending upon the type of project and overall risk associated
with the borrower. Here are our general guidelines and terms:
Guidelines: Commercial Properties Other Assets
Minimum Loan Amount $1,000,000
($10,000,000 International)
($2,000,000 Bridge loans)
$1,000,000
($2,000,000 NPN, REO)
Maximum Loan Amount $200,000,000
($50,000,000 Bridge)
Unlimited – No Cap
Maximum LTV 75% - Bridge (80% multifamily)
75% - CMBS(80% multifamily)
100% - 144A; Structured Equity
75% (higher under certain conditions)
90% - SBA
Purpose Purchase
Refinance
Structured Products / Equity
Acquisition
Special transactions
Lien Position First only First only
Timing Term Sheet – 48 hours
Closing – 2 weeks (Bridge)
30-60 Days (Conventional)
90-120 Days (144A/Structured)
*Estimates only
Term Sheet – 48 hours
Closing – 2 weeks
30-60 Days (Conventional)
Term 1-5 years (Bridge)
5-25 years (Conventional)
1-5 years (Bridge)
5-25 years (Conventional)
Location US; International
Tier I & Tier II markets
US only (NPN, REO)
International (Some limits)
Min 250k MSA area
Interest Rates 4.75% - 6.50% (Conventional)
4.75% - 6.75% (CMBS)
6.00% up (Bridge)
6.75% - 9.00% (Construction)
Starts at 6.00% for most
assets
Origination Fees 2-3 points
3-5 points (Bridge)
5-7 points (144A)
2-6 points dependant on
loan size and product type
Amortization Interest only (Bridge)
Up to 30-year (CMBS; Conv; 144A)
Varies
Recourse Non-recourse & Recourse Non-recourse & Recourse
Exit Fee None None
Extensions Yes Yes
Extension Fee 1/2 - 1 point 1/2 - 1 point
Borrower Entity Special Purpose Entity
(SPE)
Special Purpose Entity
(SPE)
Minimum DCSR None (Bridge)
Low as 1.00 (other programs)
Varies
Minimum Credit Score N/A
BK; Credit problems okay
N/A
These terms and conditions are subject to change without notice, and does not impose any obligation on the Lender to make a loan.