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