High Leverage Non-Recourse Bridge and Construction Financing

George Smith Partners is originating loans for a global real estate investment management firm.  The lender can finance transitional properties in need of bridge debt with rates starting at LIBOR plus 3.00% and leverage up to 85% of cost.  Senior loans start at $25,000,000.  Mezzanine and Preferred Equity start at $10,000,000 to leverage up to 90% of cost and the lender has a capacity to take down the entire loan on their balance sheet if the senior lender is unable to lend.  Special Use assets will be looked at selectively.  The lender has a $300,000,000 allocation for construction loans.