Bridge financing
Originate or participate in transitional loans for acquisitions, repositioning and recapitalizations, alongside capital partners where appropriate.
Credit & structured capital
Investing across
the capital structure.
We originate hotel-backed loans, acquire notes and invest in structured capital, including preferred equity. We assess cash flow, payment priority, contractual protections and the path to repayment or recovery.
Principal strategies
Hotel credit
and special situations.
Each strategy requires different rights, protections and recovery assumptions.
Mezzanine debt
Finance behind senior debt, assessing intercreditor terms, collateral, enforcement rights and the borrower’s remaining equity.
Preferred equity
Structure priority equity positions around distributions, capital needs and negotiated governance rights, recognizing that the protections differ from those of debt.
Rescue capital
Address funding gaps with liquidity or completion capital, after assessing the cause of the shortfall and the cost to complete the plan.
Distressed debt acquisitions
Acquire notes where pricing, documentation, collateral and a workable recovery strategy support the risk. Potential outcomes may include repayment, restructuring or a negotiated transition in ownership.
CMBS portfolio investments
Evaluate selected CMBS positions, including B-piece opportunities, for Alterra-managed investment portfolios using loan-level analysis, servicing provisions and recovery scenarios. We do not provide securities trading or market-making services.
Underwriting
Asset economics and
capital protection.
We evaluate the full capital structure, the use of proceeds, realistic exit financing and downside recoveries. Investment terms must reflect duration, liquidity, execution risk and the rights attached to the position. A credit investment does not necessarily provide control of the underlying property.
Role in the transaction
Principal investment
and oversight.
Alterra evaluates and holds loans and other credit positions for its own investment vehicles. We assess the borrower, collateral, terms and recovery options, and monitor the investment within its contractual rights. Each offering identifies the vehicle, mandate, economics and applicable risks. Investment oversight ↗
Strategies describe the opportunities we evaluate and do not constitute a lending commitment. Funding, investment availability and participation depend on transaction terms, capital availability and definitive agreements.
Contact
Investment &
partnership inquiries.
For investment and property partnership inquiries.