Summary of Investment Teams & Objectives
This visual illustrates how the capital stack is structured within the development, showing the order in which each component is positioned.
The mortgage loan holds the first position, followed by 1031 capital, with sponsor equity in the third position. This structure outlines how each layer supports the overall development.
First Position: Mortgage Loan
The senior loan provides the primary source of financing for the development and holds the first position within the structure
Second Position: 1031 Capital
1031 exchange capital is positioned behind the senior loan and supports the development during its early stages.
Third Position: Sponsor Equity (CRP Affordable)
Sponsor equity represents the developer’s contribution and is positioned after the other layers, aligning the sponsor with the overall execution of the project.