Rick M. Stevenson

Heartland Real Estate Investors focuses on real estate investments across a broad range of property types including: (1) multi-family/senior (2) office (3) industrial/flex (4) retail/ mixed use (5) triple-net (NNN) leased (6) hotels/flagged and (7) owner user. The firm invests in properties located in the St. Louis region of the US. They look for opportunities to invest in new construction, repositionings/conversions, single asset projects and the rehabilitation of existing properties. Heartland Real Estate Investors makes both equity and mezzanine investments including first and second mortgages, mezzanine loans, credit enhancements and construction financings. Investments range from $2 million to $6 million per property and the firm will provide up to 75% of a project's equity requirement. For debt financings, Heartland Real Estate Investors requires a 60% to 70% maximum developer obtained first mortgage. The firm's investments are structured with a 10% minimum pay rate on all investments. Investments structures include market rate development and property management fees. A pre-leasing to credit tenants of at least 50% minimum will be made where applicable. Heartland Real Estate Investors also requires a junior deed of trust or assignment or membership interest, a completion guarantee and a minimum of 10% developer equity. An exclusive agent fee of 1% will be paid to HEH Capital LLC. The Limestone Real Estate Opportunity Fund I LP is a commingled commercial real estate opportunity fund that seeks to invest in construction projects in the St. Louis metropolitan area.