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No CMBS Retention Issues

George Smith Partners identified a CMBS originator that holds their B-piece on-book, mitigating the pending Dodd/Frank regulatory risk retention issue. Rather than layering on mezzanine debt, they increase the B-piece that is ultimately held, allowing for a singular debt stack to 85% of value without the A/B tranche and separate documentation. This capital provider also serves as the master servicer of the loan. Transactions from $10,000,000 are funded for 3 to 10 year terms with an option of offering a step-down prepayment schedule.