BrookedgeReal Estate Capital
Commercial real estate debt advisory

Financing for the deals banks usually pass on.

Vacant industrial. Cannabis-tenanted. Over-leveraged. Small-balance net lease. Brookedge packages the sponsor, not just the property, and places the loan with the lender who actually fits it. 75% leverage on every recent mandate, and bank pricing where the file supports it.

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Seniors housingMultifamilyNet leaseIndustrialSpecial situations
$50MM+
Debt placed by our principals
180+
Bank, debt fund, agency and HUD lender relationships
75%
Leverage on every recent mandate
9
States closed in, coast to coast
Recent transactions

Four files. Four lenders that said yes.

Terms are from actual engagements, quoted as issued. Borrower names are withheld. Each one was a file that a conventional read would have declined.

Industrial · Acquisition

Vacant industrial building, financed at bank rates

Closed
$6.8MM
Loan
6.50%
Rate
25 yr
Amortization
75%
Loan to cost
The problem

A very large industrial building, vacant, with a purchase price around $9MM. Empty collateral normally means bridge or hard-money pricing and a lease-up before any bank will talk.

What we did

We built the file around the sponsor: global cash flow, and a documented history of buying industrial buildings, converting them and leasing them up. A commercial bank took the credit at 75% of cost, 6.50%, on a 25-year amortization.

Industrial · Permanent loan

80% cannabis-tenanted industrial, closed with a bank

Closed
$5.4MM
Loan
6.75%
Rate
25 yr
Amortization
75%
Loan to value
The problem

Four-fifths of the rent roll was cannabis operators. Most banks decline on the tenant profile before they look at the real estate.

What we did

We profiled every tenant: operating history, time in the building, payment record and the strength of the businesses behind the leases. The loan closed with a bank at 75% of appraised value, 6.75%, 25-year amortization.

Industrial NNN · Refinance

Over-leveraged net-lease industrial refinance

Term sheet issued
$1.9MM
Loan
6.80%
Rate
25 yr
Amortization
75%
Max LTV
The problem

The appraisal behind the original loan used 3% vacancy and a 1% management fee in a market that underwrites 7% and 4%. At real assumptions the property could not clear a conventional DSCR test, and a $1.94MM payoff was coming due.

What we did

We sourced a lender willing to set property-level DSCR aside and underwrite the sponsor's global cash flow, sizing to 75% of appraised value. The term sheet is $1.9MM at 6.80%, with the amount adjusting upward if the new appraisal supports it.

Net-lease retail · Acquisition

Dollar General on a long-term lease

In process
$825K
Loan
$1.1MM
Price
30 yr
Amortization
75%
Loan to cost
The problem

Small-balance net-lease purchases get thin attention from lenders and brokers alike, and the borrower still needs full leverage and a long amortization to make the yield work.

What we did

Packaged and placed like an eight-figure file: 75% loan-to-cost against the $1.1MM purchase, 30-year amortization, on the strength of a long-term Dollar General lease.

Active nationwide.

Based in the New York metro, placing debt wherever the sponsor and the asset are. Recent closings run from New Jersey to Texas.

Closed in the past year
New JerseyTexasPennsylvania
Prior placements
New YorkFloridaCaliforniaNorth CarolinaGeorgiaArizona
What we finance

Specialty depth in healthcare and multifamily. Full coverage across commercial.

Every mandate is underwritten in-house before it goes to a lender, so the questions get answered in the package instead of in week three.

Skilled nursing

Acquisitions, recapitalizations and bridge-to-HUD. We read census, payor mix and Medicaid rate schedules, and we underwrite the operator before the lender does.

Bridge · Bank · HUD 232

Assisted living & memory care

Stabilized and transitional communities, single assets and portfolios. Agency, HUD and bank executions matched to the operator's license and business plan.

Bank · Debt fund · HUD 232

Multifamily

Workforce, value-add and stabilized housing from five units up. Fannie Mae, Freddie Mac, HUD 223(f) and bank programs, chosen on rate, leverage, recourse and prepay.

Agency · Bank · HUD 223(f)

Net-lease retail

Single-tenant and small portfolios, investment-grade and franchisee credit. Small-balance deals get the same packaging as eight-figure files.

Bank · Credit union · CMBS

Industrial & flex

Vacant, transitional and unusual tenancy. Our two most recent industrial closings were bank executions at 75% leverage; when a bank won't go there, we know who will.

Bank · Debt fund · SBA

Mixed-use & special situations

Owner-user, mixed-use, self-storage, and files where the last appraisal or the last lender set an impossible bar. Evaluated on the sponsor as much as the property.

Bank · Private credit
Capital solutions

Structures we place.

Typical terms are indicative ranges from recent lender quotes, not commitments. Sponsor strength moves every one of them.

Acquisition financing

Purchase loans sized to cost, with the sponsor's full picture in the file from day one.

Up to 75% LTC
25–30 yr amortization

Refinance & cash-out

Rate-and-term and cash-out refinances, including files where the last appraisal set a bar the property can't clear on its own.

Up to 75% LTV
Global cash flow underwriting available

Bridge & transitional

Vacant buildings, lease-up and repositioning plans, priced as close to permanent as the story allows.

12–36 months
Interest-only available

Construction

Ground-up and heavy renovation for sponsors with a track record, bank and debt-fund executions.

Loan-to-cost sized to budget
Recourse and non-recourse

Agency & HUD

Fannie Mae, Freddie Mac, HUD 223(f) and HUD 232 for multifamily, skilled nursing and assisted living.

Up to 35 yr fully amortizing
Non-recourse

Small-balance & net lease

Loans that larger shops don't answer the phone for. Same process, same lender auction, same attention.

Bank and credit union execution
30 yr amortization available
How a mandate runs

Originated by a principal. Underwritten by a team.

Sam runs the relationship and the lender conversations. Behind him, Brookedge's underwriting team builds and stress-tests every file before a lender sees it.

01

Intake

Send the basics: property, loan request, financials and a sponsor overview. You get a read on feasibility and a preliminary sizing within one business day.

02

Package

Our underwriting team builds the file lenders actually underwrite from: normalized cash flow, global cash flow, track record, tenant profiles and the answers to the questions they will ask.

03

Match

The file is screened against our lender database, 180+ appetite profiles by asset type, geography, leverage and structure, and goes to the lenders who fit. Not a blast list.

04

Negotiate

Term sheets compared line by line: rate, amortization, recourse, reserves, prepayment and covenants. You choose between real options, not a single quote.

05

Close

Our closing desk runs third-party reports, lender checklists and insurance requirements through to funding, so the term sheet you signed is the loan you close.

Loan sizer

What the property supports, before the first call.

Two constraints decide a conventional loan: leverage against value and debt coverage against income. Enter your numbers to see which one binds.

InputsIllustrative
$
$
%
%
x

Defaults reflect a typical bank quote on a stabilized net-lease purchase. Agency, HUD and bridge programs use different leverage and coverage tests.

Indicated sizingCap rate 7.50%
Indicated maximum loan
$825,000
Binding constraint: Leverage (75% LTC)
Leverage-constrained
$825,000
Coverage-constrained
$843,700
$64,500
Annual debt service
1.28x
Resulting DSCR
$275,000
Equity required
Debt yield10.0%
0%8% floor16%+

Illustrative only. Sponsor global cash flow, track record, market and lender appetite can move every number here, which is the work we do.

SF
PrincipalSam FlegmannDirector of Funding
Principal

Your point of contact from first call to funding.

Sam Flegmann originates every Brookedge engagement and stays on it through closing. He spent three years at Eastern Union originating skilled nursing, assisted living and multifamily debt across the Northeast, placing more than $50MM, and now brings the same discipline to net lease, industrial and special situations nationwide. Every file he brings in is worked by Brookedge's underwriting team before it goes to market.

He also underwrites commercial property risk on the insurance side, which means lender insurance requirements get solved when the package is built rather than at the closing table. He works deals in English, Spanish and Yiddish.

FocusSeniors housing, multifamily, net lease, industrial, special situations
BasedRockland County, New York · New York metro
CoverageNationwide
LanguagesEnglish · Spanish · Yiddish
Direct(845) 548-1373 · sam.flegmann@brookedgerec.com
Submit a deal

Send the basics. Get a read within one business day.

No fee to look. If the deal is placeable, you'll hear exactly what leverage, rate and structure to expect and which lenders we'd take it to.

  • Helpful attachments, if you have them: rent roll or census, trailing-12 operating statement, purchase contract or current loan payoff.
  • Broker-to-broker inquiries welcome. Fees are shared, relationships are protected.
  • Everything you send is held in confidence and shared only with lenders you approve.
Direct line
(845) 548-1373
Deal intake* required
$
$
$

Builds a one-page deal summary you can send to Sam in one tap. No account, no attachments required.