Hot Money

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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.

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    Small-Balance Non-Recourse Bridge Program

    Hot Money

    April 18, 2018

    George Smith Partners identified a national non-recourse bridge lender specializing in intermediate-term mortgages for value-add projects with opportunistic characteristics. Bridge debt can go up to 75% LTV on loan sizes between $3,000,000 and $15,000,000 with terms up to five years. The lender will finance traditional properties such as retail, multifamily, office, self-storage and industrial properties as well as student housing projects and self-storage facilities. The loan product offers floating rates over LIBOR, flexible prepay and no interest charges on future loan advances until they are disbursed.

     

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    Fixed Rate Capital for Permanent Loans

    Hot Money

    April 11, 2018

    GSP sourced a national capital provider that will provide recourse fixed rate financing to 75% of cost including, tenant improvement, leasing commission, and budgeted capital expenditures on assets with up to 20% vacancy. Fixed rate pricing starts at 4.5% for terms up to 10 years. They offer a 90-day free rate lock, 30-year amortization and no reserves or holdbacks for tenant improvements. Permanent loans along with other opportunities that require structure will be considered. Loan sizes range from $1,000,000 to $15,000,000 for transactions in markets with strong fundamentals. The capital provider has a local decision maker that will fund alternative asset classes that others typically avoid.

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    Non-Recourse 80% LTC Loans with Lower Cost of Blended Capital

    Hot Money

    April 4, 2018

    George Smith Partners is placing acquisition debt with a leading middle market investment platform that uses technology to efficiently source and underwrite real estate transactions. Non-Recourse bridge loans from $1,000,000 to $20,000,000, LIBOR + 450-800 bps, terms up to 3 years and up to 80% of total capitalization. The Lender provides a bifurcated loan structure which offers a lower cost of blended capital, and a strong commitment to close. In addition to common equity and senior debt, they offer subordinated financing to increase leverage.

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    High Leverage Non-Recourse Mezzanine and Construction Financing

    Hot Money

    March 28, 2018

    George Smith Partners is arranging mezzanine loans from $10,000,000 and construction loans from $30,000,000 on a non-recourse basis. The lender can finance all product types with rates for construction loans starting at LIBOR plus 575 with leverage up to 85% of cost.

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    Bridge Lender Offering Aggressive Pricing

    Hot Money

    March 21, 2018

    George Smith Partners is working with a national middle-market portfolio lender funding bridge transactions from $10,000,000 to $75,000,000 on a non-recourse basis. Leverage for multifamily goes up to 75% and pricing starts at LIBOR + 3% for loans sizing to a going-in 3.75% debt yield. The lender will finance Multifamily, Office, Retail, Industrial, Hotel and Student Housing. With the ability to close in 30 days from executed application, three to five year terms are available. Cap strike prices and term lengths are structured to accommodate the business plan and minimize cost. All decisions are discretionary; loans are serviced locally and not part of an underlying bank line or targeted for a CLO execution.

     

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    Nationwide Dedicated Non-Recourse Bridge Lender Up to 80%, Pricing in the L +300’s

    Hot Money

    March 14, 2018

    George Smith Partners is placing acquisition and refinance debt with a national portfolio lender funding bridge transactions from $5,000,000 to $45,000,000 on a non-recourse basis. With the ability to advance 80% of purchase price for Multi-Family (including fractured condos), pricing starts at LIBOR + 350. In addition to multi-family, asset classes in primary and secondary markets include: Retail, Hotels, Offices, Industrial, Self-Storage and Mobile Home Parks. Lender will fund interest reserve for negative cash flow projects and will also consider product types outside the core for deals that make sense. lender will fund interest reserve.

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    Non-Recourse Fixed-Rate Bridge Loans from 5.0%

    Hot Money

    March 7, 2018

    Acting has a hedge against a rising LIBOR index, George Smith Partners identified a national provider funding fixed rate bridge loans from $5,000,000 to $50,000,000 starting at 5.0%. With LIBOR currently sitting at 1.71%, this nets a spread of less than 330 over the floating index. Asset types include Multifamily, Office, Retail, Industrial, Limited-Service Hotels, Non-Performing Loans, Condominiums and Special Situations. Interest only terms up to 3 years and up to 75% of total capitalization.

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    Floating Rate Non-Recourse Bridge Loans from 4.5% up to 85% LTC

    Hot Money

    February 28, 2018

    George Smith Partners identified a national capital provider funding LIBOR-based floating rate loans from $5,000,000, starting at 4.5%.  Sub-1.0 cash flow and vacant buildings are considered.  Asset types include Office (and Medical Office), Retail, Mixed Use, Industrial/Distribution, Multifamily and Hospitality properties located in primary and secondary markets nationwide. Interest only amortization and terms up to 5 years on a non-recourse basis to 85% LTV.