George Smith Partners identified an institutional capital provider funding subordinate debt behind existing CMBS, Bank and Life Insurance Company debt. Financing is employed through methods including; transfer of interest, buying out an LP, investing in the LP, inserting a new LLC through an assumption. The sub-debt lender will fund fully stabilized assets up to 75% of cost/value with various pay structures. Terms are coterminous with the senior or may be pre-paid. Pricing starts at 8% for a current pay and requires accrual or equity participation. All structures are within full compliance of the existing senior debt.
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