(1) DBRS rated BBB (low), just above investment grade. One misstep could take it below IG and any money manager with only an IG mandate would have to sell the bonds. So credit risk is high as is liquidity risk on an issue with only 200mm outstanding.
(2) Small borrower relative to its peers. Peers have access to many different funding avenues whereas MCAP would be at risk were it lose its very limited access to wholesale funding.
(3) I haven't read the prospective or Offering memorandum depending on how this was offered for sale, but you should read it and understand the cashflows before investing in it.
(4) In a credit event or a broader deterioration in the credit markets, IMO this would be have a higher beta than it's peers.
=> at a spread of around 300bps, an investor is not getting compensated for the risks IMO.