National Non-Recourse Bridge Debt to 85% LTC

George Smith Partners is placing bridge and reposition loan requests with a national balance sheet lender funding from $1,000,000 to $40,000,000 on a non-recourse basis. With the ability to advance up to 85% of total capitalization, pricing starts at LIBOR + 550 for sub-1.0 cash flows for Class B assets in gateway cities. Limited service flagged hospitality will fund to 75% of cost + 100% of all PIP costs for three years prior to extensions. Interest is not paid until funds are drawn and loan fees (1 to 2 points) are paid at exit to maximize leverage.