George Smith Partners is placing non-recourse debt on stabilized asset with a national capital provider for on-book Life Insurance quality assets. Fixed or floating rate coupons are competitive with alternative on-book and securitized product although total lender third-party costs are capped at $25,000 (including legal) for transactions from $2,000,000 to $15,000,000. Prepayments may be structured to accommodate the Sponsors’ business plan. Sized to 75% of value, a 8.0% or better debt yield must be supported at the time of funding.
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