Hot Money

  • Expand

    National Portfolio Customizes Non-Recourse Bridge and Permanent Loans to $30,000,000

    Hot Money

    July 19, 2017

    GSP is working with a national portfolio lender focusing on tailored lending solutions for middle market real estate operators in MSAs throughout the U.S. with a population of 250,000 people or more.  The lender specializes in non-recourse bridge and non-recourse permanent debt on commercial real estate.  Bridge debt for transitional assets can go up to 80% LTC with rates starting at LIBOR plus 4.25%.  The permanent loan program can offer an alternative to the CMBS market by offering a tailored solution specific to borrower’s unique property attributes and extending loan terms up to 20 years which can be advantageous in instances where the lease roll makes 5 and 10-year execution difficult to underwrite the exit. The lender also offers a forward rate lock up to nine months in advance which can be used in conjunction with the bridge program to eliminate interest risk on reposition strategies.  The lender will consider multifamily, office, retail, and industrial properties on loan sizes typically between $5,000,000 and $30,000,000.  Single Family Residential portfolios can also be considered.  Borrowers with blemishes on their credit will be considered.  Loans can close in 30 days with affordable legal and closing costs.

  • Expand

    High Leverage Non-Recourse Bridge and Construction Financing

    Hot Money

    July 12, 2017

    George Smith Partners is originating loans for a global real estate investment management firm.  The lender can finance transitional properties in need of bridge debt with rates starting at LIBOR plus 3.00% and leverage up to 85% of cost.  Senior loans start at $25,000,000.  Mezzanine and Preferred Equity start at $10,000,000 to leverage up to 90% of cost and the lender has a capacity to take down the entire loan on their balance sheet if the senior lender is unable to lend.  Special Use assets will be looked at selectively.  The lender has a $300,000,000 allocation for construction loans.

  • Expand

    Aggressive Structured Finance Solutions in Secondary and Tertiary Markets

    Hot Money

    July 5, 2017

    GSP is originating debt for a publicly traded REIT that can provide fixed-rate and floating-rate non-recourse commercial mortgages, mezzanine financing, and preferred equity. They deliver certainty of execution on their fixed rate debt by purchasing their own B-piece debt.  Our lender is aggressive on leverage in secondary and tertiary markets and can customize a structured solution for transitional assets or near term rollover. Loans start at $5,000,000 and up with leverage up to 75% LTV and rates fixed for 10 years.

     

     

  • Expand

    Flexible High Leverage Financing Nationwide

    Hot Money

    June 27, 2017

    GSP is originating loans from $7,500,000 to $35,000,000 with a multifaceted capital provider that can provide high leverage financing nationwide on multifamily, industrial, self-storage, office, hospitality, student housing, and retail. Their high leverage bridge debt starts at LIBOR plus 4.00% and allows future funding without negative arbitrage and only 12 to 18 months yield maintenance.   They also have an aggressive special situations funds starting at LIBOR plus 7.00% for all commercial property types including condo inventory loans for all business plans except construction.  The lender accommodates acquisitions, discounted payoffs, partnership buyouts, and equity recapitalization.

  • Expand

    Construction and Bridge Financing for Large Projects In Major Markets

    Hot Money

    June 21, 2017

    GSP is working with an opportunity fund to arrange senior and mezzanine debt for pre-development, construction, and heavy bridge deals for large transactions throughout the top 20 MSAs in the U.S.  The unique feature of this lender is that they fund the whole loan and do not syndicate the construction loan which has become increasingly common for large construction deals.  Mezzanine Loans from $20,000,000 and up will be considered as well as whole construction loans $75,000,000 and up.  A representative loan structure would be class A multifamily construction at 75% Loan to Cost at LIBOR plus 5.50%.

  • Expand

    High Leverage Non-Recourse Construction and Bridge Financing

    Hot Money

    June 14, 2017

    GSP is originating non-recourse, construction, bridge and quick-close financing opportunities from $5,000,000 to $25,000,000 to 85% LTC and 75% LTV.  Acquisition and pre-development, transitional use, and adaptive reuse will also be considered.  Pricing starts at LIBOR plus 800 with current pay and accrual structures.  Loans can close in as little as two weeks.  All product types including entitled land in coastal or infill areas will be considered.  The lender is active in major markets west of Denver, CO.

  • Expand

    Participating Loans to 90% LTC for Transaction $20,000,000 and Above

    Hot Money

    June 7, 2017

    GSP has sourced a capital provider that can provide non-recourse loans to 90% of cost including interest reserve, tenant improvement, leasing commission, and capital expenditures.  The loan will feature a current pay of 6.50% to 7.50% and an equity participation at the end of the five-year term.  The minimum loan size will be $20,000,000 and some interest only is available.

  • Expand

    Creative Financing Solutions to $100,000,000 for Construction and Bridge Loans

    Hot Money

    May 31, 2017

    GSP is working with a credit company providing high leverage, creative financing solutions for transactions typically unable to be financed by banks.  Loans will be limited to 70% LTV, but can be over 100% of cost for the right transaction.  Pricing starts at Libor plus 10% for terms up to 5 years.  Construction, bridge, and land loans along with other opportunities that require structure will be considered.  Loan sizes range from $10,000,000 to $100,000,000 for transactions in markets with strong fundamentals.

  • Expand

    Private Lender Funding Quickly With Single Digit Interest Rates

    Hot Money

    May 24, 2017

    GSP is working with a private lender funding non-recourse loans to 75% LTC for transactions between $1,000,000 and $5,000,000.  Rates are between 8% and 9% with approximately 2% origination vs. 10% and up for competitors in this space. Properties with zero cash flow are okay.  The lender touts leverage and speed of execution to allow real estate companies to act quickly on business plans.

     

  • Expand

    Balance Sheet Lender Offers Non-Recourse Permanent Loans With Early Spread Lock

    Hot Money

    May 17, 2017

    GSP has sourced a balance sheet lender offering non-recourse loans from $7,500,000 to $25,000,000 fixed for 7 years with no lender origination fee.  Sized to 75% LTV, the lender will lock spread for 45 days early in the application process.  Multifamily, Retail, Office, Industrial, Self-Storage, Manufactured Housing, and Mixed-Use buildings in major markets and secondary markets will be considered.  The lender services the loan and does not require rating agency or B-piece buyer approval to fund which raises certainty of execution.

  • Expand

    Aggressive Fixed and Floating Rate Financing for Stabilized Assets

    Hot Money

    May 10, 2017

    George Smith Partners’ national correspondent lender is actively providing non-recourse and limited recourse financing for loans $2,000,000 to $30,000,000 on stabilized multifamily, industrial, office, and retail with low rollover risk.  Floating rate loans can be priced starting LIBOR plus 1.95%.  Fixed rate loans start at 3.50%. The lender fee is Par to GSP clients. Sized to 70% LTV, these loans do not require reserves other than impounds for taxes and insurance and have flexible prepayment options.  Forward commitments are offered up to 12 months at a nominal fee of 3-5 basis points per month after 60 days free rate lock at application.

  • Expand

    Joint Venture Equity for Top 20 Markets

    Hot Money

    May 3, 2017

    George Smith Partners has established a relationship with an equity investor group that is providing joint venture equity with an emphasis on home building and residential land development in the top 20 M.S.A.s throughout the U.S.  The investor group is managed by veterans that have been in the land development and home building business for decades.  They seek established private developers and builders who have strong teams and experience in their local markets and need the capital to grow.  Multifamily development and other asset classes will also be considered in these top 20 markets.  Depending on the duration and risk profile of the deals, the fund targets returns with a minimum 20% IRR and a 1.5x equity multiple and a minimum investment of $5,000,000 per deal with a goal of investing more than $25,000,000 per partner.