National Non-Recourse Bank Lending on Construction and Value Add Projects

George Smith Partners sourced a portfolio lender selectively funding three year construction loans up to $40,000,000 to 65% of total capitalization starting at 30 day LIBOR + 325 on a non-recourse basis for experienced developers. They are aggressively funding interest only bridge loans for value add multifamily, retail, office, industrial, and select hospitality properties. Both programs offer two 1-year extension options. Term debt can be originated by the lender up to 75% LTV and 65% LTV on a non-recourse basis to stabilized properties to offer a full service execution once the Sponsor’s business plan is completed.