Non-Recourse Bridge Debt to 75% of As-Stabilized Value for Commercial Assets

George Smith Partners is working with a portfolio funder of value-add light transactions from $3,000,000 to $12,000,000 priced at L+600 for three years prior to extensions. Interest is only paid on funds drawn down; there is no negative arbitrage on future funded proceeds. Interest reserves may be established for sub-1.0 cash flow at funding. Sized to the lessor of 75% of cost or stabilized value for commercial assets, this capital provider will extend to 80% of capitalization for multifamily properties. Loan fees are 1 point in and 1 point upon exit. All core assets are considered on a national basis.