Inlet Capital

Mezzanine Lending

Inlet Investment Track Record NYLIM–GCR Fund I-2002, L.P.

Inlet Affiliate, GCR LLC, is Co-General Partner and Co-Advisor with New York Life Investment Management, a subsidiary of New York Life Insurance Company, and RFR Holdings LLC. Financing by Goldman Sachs.

Overview (As of 12/31/09):

  • $121 million of equity closed in 2003.
  • Total of $221 million capital with $100 million warehouse facility
  • $487 million of gross investments in $6.5 billion of gross assets
  • $295.2 million net total investments.
  • 24 investments, average size of $12.3 million.
  • 64% to 74% average underwritten LTV
  • 1.51x average underwritten debt coverage (DSCR, where applicable)
  • 44% of the investments are transitional assets, mainly condo conversion
  • 67% Mezzanine, 33% B-Notes

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