George Smith Partners is placing significant value-add transitional loans with a national debt fund advancing to 65% of total capitalization on a non-recourse basis. Select ground-up transactions and condo-inventory pools will be underwritten to 70% of value. Requests from $10,000,000 to $50,000,000 are priced from LIBOR plus 450 to 700 based on risk and leverage. Future fundings are advanced through draw requests and do not incur negative arbitrage from recordation. Two to three year terms are typical and carry extension options.
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