Hot Money

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    Non-Recourse Bridge Financing Providing Aggressive Floating Rates

    Hot Money

    July 18, 2018

    George Smith Partners is working with a national bridge lender funding floating rate transactions for all transitional and stabilized property types from $10,000,000 to $100,000,000. Funded up to 85% loan to cost, floating rates start at LIBOR + 300 for terms up to five years. All transactions are non-recourse beyond standard carve-outs.

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    Small Balance Construction Financing Prime + 1% to 70% of Cost

    Hot Money

    July 11, 2018

    George Smith Partners is working with a California portfolio lender, focused in urban markets funding construction transactions from $1,000,000 to $7,500,000 on a recourse basis. Rates start at Prime + 1% for terms from 1 year to 30 months. Leverage for Speculative Homes, Condominiums, Apartments, and Small Lot Subdivisions go up to 70% of total development cost.

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    Bridge Financing Fixed at 6% or Construction Mezz Fixed at 10%

    Hot Money

    June 28, 2018

    George Smith Partners is working with national lender funding bridge transactions over $10,000,000 and multifamily mezz transactions over $5,000,000 on a non-recourse basis. Bridge rates start at 6% for terms up to three years and mezz rates start at 10% for terms up to five years. Leverage for Multifamily, Anchored Retail, Flex/Industrial, Medical Office and Entitled Land for both programs go up to 85% of purchase price. The bridge program specializes in conversions, rehabs, Note DPOs, Note Purchases, Bridge to HUD, Fannie, Freddie and Bridge to construction loans.

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    Multifamily and Senior Housing Non-Recourse Bridge Financing Libor + 1.75%

    Hot Money

    June 20, 2018

    George Smith Partners is working with a national balance sheet lender funding bridge/reposition transactions from $5,000,000 on a non-recourse basis. Rates start at Libor + 1.75 % for terms up to 1 year up to 3 years. Leverage for apartments and senior housing up to 75% of purchase price. The lender will fund sub-break-even and to a 125 DCR threshold for lighter construction for better pricing. Fees are generally 100 to 150 bps.

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    Non-Recourse Portfolio Permanent & Bridge Lending Programs

    Hot Money

    June 13, 2018

    George Smith Partners identified a national lender funding bridge transactions from $15,000,000 on a non-recourse basis. Floating rates start at 8% for terms up to 5 years for ground-up construction, acquisition, repositioning, recapitalization, partnership restructuring or time sensitivity leveraged to 75% of purchase and 100% of good news dollars. The fixed rate on-book transactions from $3,000,000 offer 30-year amortization and terms up to 10 years on a non-recourse basis. This is truly a portfolio execution and not subject to CLO or CMBS restrictions.

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    Co-GP Equity Provider

    Hot Money

    June 6, 2018

    George Smith Partners identified a Co-GP equity provider for multifamily, student housing, senior Independent-living, hospitality, industrial, office (including medical and other uses on a selective basis), self-storage and mixed-use sectors. Looking for value-add and opportunistic opportunities in primary and secondary markets nationwide. Target equity investments between $1-10M per deal with an investment period of 2 to 10 years, representing 90% of the GP equity contribution, and from 15% – 30% of the overall equity contribution. Flexible program guidelines. Fast decision making and closing process. Fully funded balance sheet capital.

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    Nationwide Non-Recourse Bridge Lender Up to 85%, Pricing in the L +300’s

    Hot Money

    May 30, 2018

    George Smith Partners identified a national portfolio lender funding bridge transactions from $10,000,000 to $50,000,000 on a non-recourse basis. With the ability to advance 85% of purchase price for acquisitions, recapitalizations and business plans that entail value-add, pricing starts at LIBOR + 300. In addition to multi-family, asset classes include: Retail, Hospitality, Medical Office, Industrial, Self-Storage and Senior Housing. Lender is open to prepayment at any time, subject to yield maintenance or minimum interest requirements.

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    Fixed Rate Non-Recourse Term & Bridge Loans on SFR/Condo/Multifamily Portfolios Starting at 5.5%

    Hot Money

    May 23, 2018

    George Smith Partners has identified a national capital provider funding fixed rate loans from $1,000,000, starting at 5.5%. Asset types include SFRs, fractured condos, and multifamily projects under 50 units cross collateralized under one mortgage. Property types can be located in primary and secondary markets nationwide. 30-year amortization and full term Interest-only options available and terms up to 10 years on a non-recourse basis up to 75% LTV. Fixed and floating rate non-recourse bridge loans and acquisition lines of credit for SFRs/condos/multifamily available as well starting at 8% and up to 80% LTC.

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    Middle Market Portfolio Lender Providing Bridge, Mezzanine and Preferred Equity

    Hot Money

    May 16, 2018

    George Smith Partners identified a national portfolio lender funding mortgage loans and sub-debt transactions ranging from $7,000,000 to $50,000,000 on a non-recourse basis. Up to 85% leverage, pricing will range from LIBOR + 300-500. Preferred product type is multi-family, industrial, office, anchored retail, self-storage and hospitality and will consider deeper value-add transactions with sub 1.0x DSCR deals.

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    Second Trust Deeds on Commercial and Investment SFRs to 75% of Value

    Hot Money

    May 9, 2018

    George Smith Partners is working with a California focused, direct portfolio lender financing commercial, multi-family, mixed-use and residential investment properties from $1,000,000 to $10,000,000. Product types include 2nd position mortgages on non-owner residential properties and can provide leverage up to 70% of value, 1,3,5,7,10 and 15 year terms with a 30 year amortization and no prepayment penalty. Rates starting at 7.75% on 2nds and senior lender approval or an inter-creditor agreement is not required.

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    Whole Loans/Stretch Senior, Mezzanine/Preferred Equity Capital for Ground-Up Construction

    Hot Money

    May 2, 2018

    George Smith Partners identified a national capital provider offering whole loans/stretch senior, mezzanine and preferred equity programs starting at $10,000,000 in primary and secondary markets. Asset types include office, hospitality, retail and multifamily. With the ability to advance 80% of purchase price for stretch senior debt, pricing starts at LIBOR + 325 with floating rates up to seven years or fixed rate coupons for terms between two and five years. Mezzanine and Preferred Equity will extend to 85% of cost @ LIBOR+700 for ground-up development.

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    Non-Recourse Bridge Financing Fixed at 5.9%

    Hot Money

    April 18, 2018

    George Smith Partners is working with a California focused lender funding bridge transactions over $10,000,000 on a non-recourse basis. Rates start at 5.9% for terms up to 18 months. Leverage for all asset classes up to 65% of purchase price. Loans are serviced locally, no third party reports are required and can close in under two weeks from executed application.