Bridge and Construction Financing

George Smith Partners just connected with a National Bank that shared their targeted approach for 2024 in the CRE Lending space.

They focus on Bridge and Construction financing, with a minimum check size of $20MM. Their lending portfolio includes industrial, multifamily, retail (case-by-case), self-storage, and student housing sectors.

Pricing is competitive at S+325-350bps, aiming for 55% LTC/ LTV.

The bank emphasizes long-term relationships and requires a deposit with each transaction (5-15% of proceeds), preferring to engage with institutional clients, HNW, and family offices.

They offer non-recourse and recourse lending, with a standard DD process before issuing Term Sheets to ensure reliability through loan closure.