🥇 Priority in the Stack
Debt payments come before equity distributions, strengthening cash flow protection.
Risk View
Why senior debt is built for downside protection
Debt sits above equity in the capital stack, with rights tied to real property and remedies that support capital preservation.
📉 LTV Buffers
Underwriting to conservative leverage creates cushions against value declines.
🧭 Diversification
Geographic and sponsor diversity reduces exposure to single-asset risk.
🛠️ Workout Options
Modifications, forbearance, or negotiated exits can preserve value.
🏠 Collateral Rights
Security instruments provide remedies that can lead to recovery.
📑 Disciplined Servicing
Active oversight and documentation protect positions through the cycle.