Commercial Mortgage Originations.
Fast, reliable bridge capital for experienced sponsors.
Bridge lending in the lower and middle CRE debt market is Scythian's core focus. The firm’s founders have overseen the origination and acquisition of more than $19B in lower and middle market CRE loans across prior platforms and will seek to continue building the origination infrastructure, underwriting discipline, and capital markets relationships to do it again at scale.
Target Originations:
Geography
Loan Size
$5 million - $75 million
2-3 years, typical with two 1-year extensions
Up to 75% LTC / LTV
National - primary and secondary markets (GEOCipher Tiers 1-3)
Balance sheet, securitization, strategic joint ventures
Typically non-recourse; limited recourse triggers subject to deal profile
Floating (SOFR-based)
Execution
Recourse
Rate
Leverage
Term
Target Property Types.
Property types are selected for stable fundamentals and broad buyer depth, asset classes that have demonstrated occupancy resilience through cycles.
Multifamily
Industrial (traditional/IOS/small bay)
Retail: grocery-anchored and necessity-based strip
Student housing
Self-storage
Limited-service hospitality
Manufactured housing
Mixed-use, considered case by case
Underwriting Focus.
Originations target high-quality, well-established markets across the U.S. Emerging or higher-risk markets are considered selectively, subject to additional risk and economic safeguards.
Bridge loans are evaluated across five main areas:
Market: Market view combines macro market fundamentals at the MSA/city level and micro fundamentals at the sub-market/zip code level. Important to have a pure market view unimpacted by other qualitative or quantitative factors.
Diligence: Searches to triangulate property information and ownership history, 3rd party reports (appraisal, property inspection, environmental), calls into the market to get local perspective, crime searches, legal searches on sponsors and their entities.
Loan Structure: Loan structure designed to help ensure property capitalization is adequate to reach its intended stabilized or other target outcome. Structural features inclusive of performance triggers can be used to facilitate sponsor alignment and commitment.
Real Estate: Property type nuances, visual inspection of property and area, sponsor interviews, historical and pro-forma financials, financial line items, rent roll analytics, deferred maintenance, determination of forward assumptions.
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Sponsors: Sponsors are underwritten for direct experience executing similar business plans on similar property types within the asset's market. Sponsors financial wherewithal is qualified against both base and stress-case scenarios, or supported by structural loan recourse features.
Asset Differentiation
Low Volatility (Scythian's Focus)
Medium Volatility
High Volatility
No
Yes
No
Yes
Single Family Development, Full-Service or Boutique Hotel, Condos, Land.
Yes
Yes
Heavy transition and concentration.
No
Yes
No
No
Diversified, Minimum as-is debt yield to reflect light transition profile at portfolio level
No
No
Property Ownership
Mezzanine Debt / Preferred Equity
Land
Construction
The volatility classifications and associated information set forth in the table above reflect the views and opinions of Scythian and are provided for illustrative and informational purposes only.
Speed to Term Sheet.
A web-based engine based on numerous structural inputs delivers indicative pricing to originators in real time, reducing delays in communication with brokers and borrowers. Market changes updated in centralized engine, disseminating pricing adjustments rapidly.
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Scythian
Regional Bank / Credit Union
Large Institutional Lender
Minutes, via 24/7 pricing engine
Days
Direct to Loan Structuring Team with full authority to structure transaction and access to committee.
Limited below target loan size
Committee-based
Days
Limited, standardized products
Committee-based
Customized to sponsor's business plan
Structuring Flexibility
Decision-Maker Access
Time to Indicative Pricing
Success stories from our
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
The information set forth in the table above reflects the views and opinions of Scythian and is provided for illustrative and informational purposes only.
Communication.
Timely communication. Deliver news to brokers quickly to assist in appropriate deal management through to borrower/sponsor. Technology enhancements to provide statuses on deals electronically.
Have a deal in mind?
Brokers and sponsors can reach the originations team directly to start a conversation.
Success stories from our
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
Sarah Brown
“The accounting team transformed our financial operations, providing invaluable insights and solutions that have significantly boosted our profitability. Their expertise is unmatched!.”
