Ground-Up Non-Recourse Construction Debt

George Smith Partners is working with a national bridge capital provider who has expanded their platform to include non-recourse construction debt from $10,000,000 to $50,000,000. Initially states west of Colorado are targeted for construction. Rates range from 4.5% to 5.5% with leverage up to 75% of cost. Core assets in primary and secondary markets are the focus, although condominiums and hospitality will also be considered for strong sponsors. A completion guarantee and standard carve-outs will be a requirement for funding.