Private Lending
Secured, contractual income with real collateral behind every dollar.
Private credit lets investors step into the lender’s seat — earning consistent, contractual income secured by hard assets, with a defined position in the capital stack. It is where we go for yield and downside protection when we want to be paid before the equity.
Private Lending
Get paid first, and get paid to wait
North Pine originates and participates in loans secured by real estate and other tangible collateral, underwriting the asset, the borrower, and the exit before a dollar goes out. We match each opportunity to the right rung of the capital stack — from senior debt to preferred equity — based on the return and protection an investor is seeking.
Major categories
The private credit structures we use
Senior & Bridge Loans
First-lien loans secured by real estate, often short-duration bridge financing for acquisition or repositioning — the most protected position in the stack.
- First-lien, first-to-be-repaid
- Short duration, asset-secured
- Conservative loan-to-value
Mezzanine Debt
Loans that sit behind the senior lender but ahead of equity, earning a higher rate in exchange for a subordinate secured position.
- Higher contractual yield
- Secured, subordinate position
- Often with equity features
Preferred Equity
A preferred position that pays a fixed return ahead of common equity — more upside participation than debt, with priority over the sponsor’s equity.
- Priority return over common equity
- Fixed-rate, defined structure
- Positioned above the sponsor
Asset-Based Lending
Loans secured by specific, valuable collateral — equipment, receivables, inventory, or other hard assets — underwritten to the value of what backs them.
- Lending against tangible assets
- Collateral-driven underwriting
- Diversified beyond real estate
Construction & Development Loans
Financing ground-up and heavy value-add projects, drawn in stages against verified progress, for a premium to stabilized lending.
- Staged, milestone-based funding
- Premium yield for complexity
- Secured by the project and land
Note Purchases & Special Situations
Acquiring performing or non-performing loans at a discount and opportunistic credit where dislocation creates an attractive risk-adjusted return.
- Discounted note acquisition
- Workout and resolution upside
- Opportunistic, event-driven credit
By introduction
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