Large non-recourse bridge loan requests are being fielded by a diverse group of mostly debt funds seeking wider yields. George Smith Partners is placing cash flowing reposition requests with a portfolio lender pricing from LIBOR + 300; $25,000,000 and up to 75% of costs to be held on-book until maturity. A 7.0% minimum debt yield is required at close. Core asset classes with light reposition, lease-up and future TI/LC fundings in core and secondary markets are considered.
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