What it is
Senior debt is the first-position mortgage financing that funds the bulk of an acquisition, a ground-up development, or a repositioning. It sits ahead of every other dollar in the stack, which is why its terms set the boundaries for the entire deal.
We arrange three closely related forms of it. Permanent senior debt for stabilized cash-flowing assets. Bridge debt for the period between today and stabilization — lease-up, renovation, repositioning, or a pending sale. And construction debt that funds a ground-up project in draws against a schedule of values as the building comes out of the ground.
When to use it
The right form of senior debt follows the business plan, not the other way around. A stabilized multifamily asset in Brickell with three years of clean operating history is a different financing conversation than a Doral industrial shell being converted to cold storage.
- Acquiring a stabilized asset and locking in long-term senior financing.
- Buying a property that needs lease-up, capital improvements, or a repositioning before it can carry permanent debt.
- Building ground-up multifamily, hospitality, or industrial product on a site you already control.
- Refinancing out of a maturing loan or an expensive short-term facility ahead of a deadline.
- Recapitalizing a partnership while keeping the asset in place.
How Ordeg structures and places it
We underwrite the deal before we take it anywhere. That means building the model, pressure-testing the rent and expense assumptions against real South Florida comparables, stress-testing coverage, and identifying every issue a credit committee will find — because they will find them, and it is far more efficient to have an answer ready than to be surprised mid-process.
From there we match the project to the capital that actually fits its profile: the right structure, the right timeline, the right appetite for the asset class and the story. We package the deal so it is easy to underwrite, run a disciplined process rather than a mass email blast, and negotiate the terms that matter to a sponsor — proceeds, prepayment flexibility, recourse, reserve and covenant structure, draw mechanics, and the extension options that protect you if the market moves.
We stay in the file through diligence, appraisal, and closing. Deals do not die at term sheet; they die in the sixty days after it, and that is where a sponsor-side advocate earns the fee.
Who it's for
U.S. investors, developers, and sponsors operating across Miami-Dade and Broward — from a first institutional-scale acquisition to a repeat developer running several projects at once.
And international sponsors, particularly investors from across Latin America — Venezuela, Colombia, Ecuador, and Argentina — placing capital into South Florida real estate. Cross-border deals carry their own friction: entity structure, credit history that does not travel, documentation standards, and lender familiarity with foreign sponsorship. We work through all of it in English and Spanish, from the first call to the closing table.