Hot Money

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    National Portfolio Funding with No Lending Limits or Prepayment Penalties

    Hot Money

    October 18, 2017

    George Smith Partners is placing acquisition and refinance debt with a national portfolio lender offering a generic fixed rate structure with no lending limits or prepayment penalties. This capital provider offers 3, 5, 7, 10 and 15 fixed rate terms for multifamily, office and retail up to 75% of cost/value. Funding is underwritten using traditional CMBS guidelines with 1.25 minimum DCR for this on-book execution.

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    Fixed Rate Non-Recourse Loans Up to 85%

    Hot Money

    October 11, 2017

    George Smith Partners identified a national capital provider funding fixed or LIBOR-based floating rate loans from $3,000,000 to $75,000,000, starting at 4.5%.  This lender will finance Multifamily, Retail, Office, Industrial, Self-Storage, Mobile Home Parks, and Hospitality properties located in primary and secondary markets nationwide. 30 year amortization and terms up to 10 years on a non-recourse basis up to 85% LTV.

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    Non-Recourse Bridge Lender Providing High Leverage

    Hot Money

    October 4, 2017

    George Smith Partners is placing high leverage senior financing bridge loan requests with a non-recourse capital provider focusing on the Western United States.  Funding from $5,000,000 to $50,000,000, pricing ranges from LIBOR + 400 to 650 for a one-year term up to 85% of capitalization. The lender will focus on real estate projects with renovation and business plan execution risk.

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    Bridge Balance Sheet Lender

    Hot Money

    September 27, 2017

    George Smith Partners identified a national floating-rate balance sheet lender funding bridge transactions up to $25,000,000 on a non-recourse basis. With the ability to advance up to 80% of total capitalization, pricing starts at LIBOR + 400 for partial or non-cash flowing assets.  All core asset classes in primary and secondary markets are underwritten with no minimum DCR or debt yield required at funding.

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    Direct Balance Sheet Lender For Value-add and Opportunistic Deals Nationwide

    Hot Money

    September 13, 2017

    GSP is originating debt with a direct balance sheet lender that services their own loans for transactions from $3,000,000 to $60,000,000.  Institutional Loans start at $10,000,000 with pricing starting at LIBOR plus 375 with leverage up to 80-85% of “as-is” value or 70-75% of “as-stabilized” value.  Short-term bridge loans start at $3,000,000 and offer fast closing and structured solutions with pricing starting at LIBOR plus 675 with leverage up to 70%.  Medium-term whole loans start at $7,500,000 at LIBOR plus 400 with leverage up to 75% “as-stabilized” or 80% LTC of total project costs.  The lender is open to transactions in secondary markets and financing owner operated buildings.

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    Bridge Financing At Aggressive Pricing

    Hot Money

    September 6, 2017

    GSP is working with an aggressive balance sheet bridge lender on loans from $10,000,000 to $40,000,000 for multifamily and commercial property throughout the U.S.  Leverage for multifamily goes up to 80% LTV and pricing starts at LIBOR plus 3.65% for loans sizing to a 6.5% debt yield going in.  Commercial properties will be leveraged up to 75% LTC.  Terms will be interest only for up to 5 years.  The lender’s core employees have been financing bridge debt since 2003.  Their nuanced expertise allows them to close as fast as 21 days from signed application.

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    Life Company with Allocation for Construction, Bridge, and Permanent Loans for Unique Assets

    Hot Money

    August 29, 2017

    GSP is originating debt with a national life company for transactions from $5,000,000 to $125,000,000. Fixed or floating non-recourse bridge loans start at $5,000,000 and above with pricing starting at LIBOR plus 4.50% with leverage up to 80% LTV. Properties with below break-even debt coverage will be reviewed on a case by case basis. This balance sheet lender will finance non-recourse construction loans $50,000,000 and above to 65% LTC starting at LIBOR plus 4.50%. Typical terms for bridge and construction are interest only for 3 years with extension options. For their non-recourse permanent loan program, terms can extend from 5 to 20 years fixed with leverage up to 70% LTV. The lender can finance assets classes that other life companies typically shy away from such as special use assets.

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    National Portfolio Lender Financing Non-Bankable Deals at Bank Pricing

    Hot Money

    August 23, 2017

    GSP is working with a national portfolio lender who will finance borrowers with credit challenges such as prior foreclosures, bankruptcy, low FICO scores, low liquidity, poor global cash flow, etc.  In addition, the lender will also review properties with weak operating history, deferred maintenance, and other challenging property conditions.  Fixed rate loans start at 4.30% with terms ranging from 3 years to 10 years.  The lender can finance loans up to $25,000,000 for commercial and up to $40,000,000 for multifamily.

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    Tighter Spreads on Bridge Debt for Transitional Assets

    Hot Money

    August 16, 2017

    GSP is originating bridge loans $25,000,000 and up for a balance sheet lender starting at LIBOR plus 3.50%, up to 80% LTV for multifamily, retail, industrial, office, and hospitality.  The lender will focus on value add transitional assets with sponsors with a proven track record.  Transitional assets located in good locations in primary and secondary markets throughout the U.S. will be considered.

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    Aggressive Construction and Bridge Debt for Unique Deals

    Hot Money

    August 9, 2017

    GSP is originating non-recourse bridge and construction debt for transactions nationwide from $5,000,000 to $75,000,0000 for a balance sheet lender with a strong reputation for closing on terms as applied.  Loans can close as quickly as 30 days from application.  Pricing starts at LIBOR plus 6.50% and advance up to 75% of cost.  The lender will finance foreign nationals with U.S. based assets.  Ideal transactions are bridge deals that require structure and ingenuity where the lender can price like debt, but give the sponsor the advantages of equity by moving quickly and understanding multi-phase business plans.

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    Non-Recourse Construction Loans Nationwide

    Hot Money

    August 2, 2017

    GSP is originating non-recourse loans nationwide up to $50,000,000.  The lender will consider apartments, pre-leased retail, and special use including hospitality and self-storage.  The loans can have a duration as long as four years and will be interest only for the length of the term.  Borrowers who are startups with limited financial strength will be considered.  Leverage will be extended to 65% LTC.  The lender prides themselves on speed of execution.

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    Loans to 95% of Purchase Price

    Hot Money

    July 26, 2017

    GSP is originating loans from $1,000,000 to $30,000,000 for a private lender funding loans on all asset classes in gateway cities throughout the U.S.  The lender will finance transitional assets, distressed assets, and loans that are stabilized and need quick funding at leverages up to 95% of purchase price or 75% of total capitalization.  Rates start at 8% and with origination from 1% to 3% for terms up to 2 years.  No prepayment penalty or minimum interest is required.  Loans can close as quickly as one week from signed application.