The depth to underwrite it.
The flow to deliver it.
River Note Capital originates and structures short-duration, collateral-backed credit investments through exclusive institutional banking relationships. Every transaction is underwritten independently and positioned within a clearly defined capital stack before investor capital is committed.
What every transaction is built on.
Where deals begin
Every transaction originates through an exclusive institutional banking relationship, arriving pre-screened through lenders we know and trust.
Protected by design
Every position is collateral-backed, clearly defined, and structured to protect investor capital before deployment.
One standard, every deal
Every transaction is held to the same standard. Size, structure, and borrower profile do not change that.
Five structures.
One underwriting standard.
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B-Note / Second Position
Second-position credit structured alongside a bank’s senior note. Collateral-backed with clearly documented intercreditor priority. Our most common structure — and the one most directly aligned with our bank origination model.
Typical duration
12–36 months
Target return
9–12%
Position
Junior to senior bank note
Collateral
Real property
Origination
Exclusive bank referral
Mezzanine Debt
Subordinated debt positioned below senior debt, offering enhanced yield for incremental risk relative to first-lien exposure. Structured with comprehensive intercreditor documentation, defined covenants, and clearly specified exit provisions.
Typical duration
12–24 months
Target return
10–14%
Position
Below senior, above equity
Collateral
Equity pledge / real property
Origination
Bank or sponsor referral
Preferred Equity
Equity-positioned capital with contractual return priority and downside protection mechanisms. Provides priority distribution rights and liquidation preference above common equity holders — with the governance protections of a structured credit instrument.
Typical duration
18–36 months
Target return
11–15%
Position
Above common equity
Collateral
Equity interest in property entity
Origination
Sponsor or bank referral
Bridge Credit
Short-duration financing for transitional or stabilizing assets. Designed for execution certainty, disciplined collateral coverage, and clearly defined refinancing or disposition exit — not for speculative repositioning.
Typical duration
6-18 months
Target return
9–13%
Position
Senior or co-senior
Collateral
Real property
Origination
Bank or lender referral
SPV Co-Investment
Deal-by-deal special purpose vehicles providing qualified investors with direct participation in specific credit opportunities. Asset-level transparency, defined terms, and SPV-level legal documentation on every transaction.
Typical duration
Deal-specific
Target return
Deal-specific
Position
Varies by underlying structure
Collateral
Asset-level (deal-specific)
Origination
Exclusive bank referral
A disciplined process,
from origination to reporting
Bank referral & origination
Exclusive access to deal flow through institutional lending relationships. Transactions arrive prescreened by the originating bank before we evaluate them.
Independent underwriting
Full credit analysis, independent of the referring institution. Property review, income verification, borrower assessment, and capital stack positioning.
SPV structuring & documentation
Each approved investment structured with defined terms, intercreditor agreements, and all investor rights formally documented before funding.
Monitoring & investor reporting
Ongoing asset-level oversight and regular investor reporting through our Investor portal throughout the full investment lifecycle.
Frequently Asked Questions
A short list of questions and answers to allow the user get to know more about your company and what you provide within the industry.
What types of assets does River Note Capital lend against?
Our focus is commercial real estate, including multi-family residential, mixed-use, and stabilized income-producing properties. Every transaction is evaluated on the asset itself, its collateral coverage, and the strength of the senior lending relationship.
How does River Note Capital source its transactions?
Through institutional banking partnerships and a carefully selected network of origination relationships built over decades in the mortgage market. Every transaction we evaluate has cleared a first layer of institutional scrutiny before we conduct our own independent underwriting review.
What is the typical investment duration and minimum commitment?
Investment durations typically range from 6 to 36 months depending on structure and asset. We work with investors on a deal-by-deal or programmatic basis. The minimum commitment is typically $250,000, though this may vary depending on the transaction.
How are distributions structured and reported?
Distribution schedules are defined at the time of structuring and typically paid monthly, though this may vary by transaction type and term. All investors receive regular reporting and asset level visibility through our investor portal, powered by Agora. We report at the asset level, not at the fund level, so investors can see precisely how their capital is performing.