Capital Stack Builder

Build the capital stack.

Layer senior debt, mezzanine, preferred equity, and common equity. See the blended cost of capital and how much equity the project needs.

Inputs

Total project cost

Senior debt, % of cost

Senior rate

Mezzanine, % of cost

Mezzanine rate

Preferred equity, % of cost

Preferred target return

Common equity target return

Common equity fills whatever the other layers do not.

Results

20%

10%

60%

Common equity
$5,000,000 at 18.0%
Preferred equity
$2,500,000 at 14.0%
Mezzanine debt
$2,500,000 at 12.0%
Senior debt
$15,000,000 at 7.0%

Blended cost of capital

10.40%

Equity required

$7.50M

30% of cost

Assumptions

Costs are weighted by each layer's share of total project cost.
Debt costs are interest rates. Equity costs are the target returns you enter, which are inputs, not market quotes or projections.
Fees, interest reserves, and the timing of draws are not modeled.

Results are educational estimates based on the inputs and assumptions shown. They are not a commitment to lend, an offer of financing, or an offer to sell or a solicitation of an offer to buy any security. Actual terms depend on lender underwriting and approval.