Lindell Capital

A flexible lending platform created by entrepreneurs, for entrepreneurs

Founded in 2007 to make commercial real estate loans in a challenging market, Lindell Capital, LLC, is the lending arm of Lindell Investments Inc., a highly capitalized Florida-based family office focused on capital preservation and wealth creation through a differentiated investment strategy focused on real estate, private equity, and private credit.

Lindell is led by Bradley S. Salzer, who has directly acquired in excess of $700 million of existing debt in his career. As a real estate professional, Mr. Salzer was first introduced to the debt markets in the early 1990’s with the Savings and Loan crisis and the subsequent liquidation of mortgages from the Resolution Trust Corporation (RTC). As global economic uncertainty remains prevalent and government regulation continues to affect credit markets negatively, Lindell believes the opportunity for continued investment in debt instruments remains a solid platform from which to grow. Lindell looks for first-lien debt of all performance levels throughout the continental United States.

Why Lindell Capital

Loans by Entrepreneurs, for Entrepreneurs

Carl Lindell has been an entrepreneur and investor in Tampa Bay for over fifty years.
He has started, managed, and sold businesses, and he knows what it takes to live your business 24/7.
He has been an investor in boom times and lean times, and he knows what it’s like to put your capital and reputation on the line.

Fast and Flexible Capital Solutions

Lindell Capital is a small, agile private lender that makes decisions in days and hours, not weeks and months.
Closing and funding can take as little as two weeks from application.
Our entrepreneurial culture drives us to find creative and flexible ways to make deals work for all parties.

Discretionary, Well-Funded Capital Base

Lindell Capital’s lending capacity is backed by Carl Lindell, one of the most prominent entrepreneurs in Tampa Bay.
Lindell Capital has no outside investors, so its loan decisions are completely discretionary – the Lindell investment committee has full control over lending decisions.

Community Connections

A portion of the profits from Lindell Capital will be donated to the Lindell Family Foundation at Community Foundation Tampa Bay.

Executive Leadership

Carl Lindell Jr

Chairman

Brad Salzer

President of Lindell Capital

Mark Stroud Jr.

President & CEO of Lindell Investments

Judy Martin

VP Finance

Origination Process

Initial collateral valuation, underwriting and Term Sheet – <1 week
Approval – 1 week
Documentation & closing – 1 week

Parameters

No matter the investment type, Lindell Investments prides itself on investing with high character, best-in-class sponsors with a demonstrated track record of success.

Loan Origination Parameters

Loan Amount

Targeting $1MM - $5MM but will consider loans from $500,000 $10MM. Exceptions allowed on a case-by-case basis.

Loan Type

Bridge financing, hard money lending, acquisition financing, working capital, semi-performing note purchases. Targeting fully-funded term debt over draw down facilities.

Eligible Collateral

Multifamily; office; industrial; retail; hospitality; land; non-owner- occupied single-family homes; equity interests; public securities.

Geographic Focus

Primary: State of Florida – Secondary: Contiguous United States Exceptions considered allowed on a case-by-case basis.

Loan-to-Value

Up to 90%, depending on risk profile, collateral type & recourse.

Loan Term

6 months to 36 months.

Repayment

Interest only monthly; balance due at maturity. Interest Rate: Fixed or floating in the low-to-mid double-digits.

Prepayment

Negotiable; 1-year minimum interest.

Fees

1%-2% per year of term. Can be structured as origination fees or exit fees.

Security

First mortgage/deed of trust lien and assignment of rents and leases; 1st lien assignment of non-real estate collateral; assignment of membership interests.

Recourse

Required if LTV > 50%.

Loan Costs

Borrower is responsible for all normal and customary loan transaction costs, including lender diligence & legal costs.

Conditions

Underwriting & credit approval; liability and property insurance; title insurance.

Preferred Equity Investment Parameters

Loan Amount

Targeting $1MM - $5MM but will consider investments from $500,000 to $10MM. Exceptions allowed on a case-by-case basis.

Investment Type

Preferred Equity or Mezzanine Loans providing gap capital to both ground-up construction projects as well as existing projects.

Eligible Collateral

Multifamily; office; industrial; retail; hospitality; land; non-owner-occupied single-family homes; equity interests; public securities.

Geographic Focus

Primary: State of Florida – Secondary: Southeastern United States Exceptions allowed on a case-by-case basis.

Loan-to-Value

Up to 85%, depending on risk profile, collateral type & recourse.

Duration

Typically coterminous with senior debt (24-48 months); no more than 60 months.

Repayment

Full I/O or partial PIK interest monthly; balance at maturity/redemption.

Preferred Return

Fixed or floating in the low-to-mid double digits.

Prepayment

Negotiable; typically 1.40x minimum multiple.

Fees

1%-3%. Can be structured as Origination Fees or Exit Fees.

Security

1st UCC lien and assignment of membership interests in a real estate holding company; sometimes a 2nd mortgage.

Recourse

Full recourse desired for mezzanine loans; completion and carve out guaranties required for all development/construction.

Loan Costs

Borrower is responsible for all transaction costs, including lender diligence & legal costs.