The Deal Sheet
What is $10MM?
This is O'Connor's standard minimum check size for a clean, efficient deal.
What bank previously housed the O'Connor platform?
UBS
How many people are on O'Connor's investment team?
Six
A $7MM mezz check on a clean multifamily deal.
NO — below the $10MM floor
How much has O'Connor (UBS) committed across six prior Hickory deals?
$56 million
What is 12–13%?
This is their target IRR range, before leverage gets it into the mid-teens.
Which firm acquired O'Connor in 2025?
Who is Hickory's main contact at O'Connor?
Josh Mercado
A $25MM mezz on market-rate multifamily in a declining-supply market with full recourse.
YES
Which active Hickory deal closed in March 2025, pre-Cantor transition, where we still coordinate draws today?
Yorkshire
What is $300 million?
O'Connor's total annual allocation.
How much AUM transferred over in the acquisition?
$11 billion
Which O'Connor team member is still copied on Hickory draw correspondence today?
Chad Goldstein
An "affordable housing" deal where rent assumptions are mispriced.
NO — they're explicitly skeptical
Name three of the six Hickory deals O'Connor committed to during their UBS days.
Broad Washington, Cambridge Madison, Pilchuck Village, Remington, Village Green, Yorkshire
What structural protections are valued?
Recourse and additional collateral
When did the first close of the transaction complete?
December 31, 2025
What does Mercado read "line by line" — combing through UCC searches, guarantor net worth, and family holdings?
The data room
A single-family BTR portfolio in a softening Sun Belt market.
NO — cautious on cooling SFH
Which 2026 Hickory deal did O'Connor pass on because of cap-stack depth — even with cash collateral and an ~80% LTV with full recourse?
Vic Centre
What three loan structures does O'Connor write?
Mezzanine, Senior A Note, and Stretch Senior
Who is the Global Head of Cantor Fitzgerald Asset Management?
Bill Ferri
Which team member worked alongside Mercado on the Yorkshire closing in March 2025 — pre-Cantor transition?
Lilly Kaufmann
A $30MM stretch senior on market-rate MF construction with strong PGs, verified liquidity, and back leverage clearly modeled.
YES — hits the sweet spot
What was the single reason O'Connor passed on Barrington?
It was too small