WHAT'S HAPPENING NOW! - FINfacts | George Smith Partners

KEY RATE INDICES

FANNIE MAE RATES *

Prime Rate	5.50%
11th District	3.974%
3 Mo. T’s (YTM)	2.01%
6 Mo. T’s (YTM)	1.94%

5 Yr. U.S. T’s	3.60%
10 Yr. US T’s	4.35%
30 Yr. US T’s	4.95%
12-MAT	4.395%

LIBOR - 1 mo.	2.27%
LIBOR - 3 mo.	2.20%
LIBOR - 6 mo.	2.16%
LIBOR - 1 yr.	2.30%

Tier 2+ (80% LTV)	6.10%
Tier 3+ (65% LTV)	5.92%
Tier 4+ (55% LTV)	5.72%
10 yr. term/30 yr. amort.

WHAT’S HAPPENING NOW! NEWLY NEGOTIATED GSP APPLICATIONS PROVIDE "MARKET SNAPSHOT" FOR DIFFERENT TYPES OF TRANSACTIONS

Acquisition/Reposition with Equity Placement: Apartment Complex, 163 Units, $13,250,000, LIBOR + 2.85%, 3 years/interest only, app. 80% LTC, Non-recourse, 1.0% lender fee, 1.0% exit fee. $3,000,000 Equity arranged (terms confidential)
Acquisition/Reposition with Equity Placement: Apartment Complex, 300 Units, $16,800,000, LIBOR + 2.85%, 3 years/Interest only, app. 80% LTC, Non-recourse, 1.0% lender fee, 1.0% exit fee. $3,750,000 Equity arranged (terms confidential)
Construction/Perm, Student Apartments, 80 Units, $4,000,000, 7.65% fixed, 40/40, 90% LTC; 1.0% lender fee
Construction: 11 Unit Student Housing Complex, Prime + 1.0, 1% lender fee
Construction: Condominium Project, 21 Units, $6,000,000, Prime + 1.00%, 2 years/interest only, 1.0% lender fee, Recourse
Construction: Existing/to-be Built Combo Strip Retail Center, 50% preleased, 31,000 s.f., $4,150,000, 12 month term with two 3 month options, 85% LTC; recourse, 1.0% lender fee
Construction: Multi Tenant Industrial Park, Bldg 1 (16,000 s.f.) and Parking Lot for Phase 2, $2,000,000, Prime + 1.50, 12 months/interest only, Non-recourse, 1.5% lender fee
Fannie Mae Perm, 19 Apartment Complexes, $120,000,000, Tier 4++ (today's rate: 5.72%, fixed), 10/30, Non-recourse.
Perm: Apartment Building, 14 units, $1,400,000, 30 year amortization, 6.75% fixed for 5 years then floats for up to 10 years, 75% LTV, Par
Perm: Apartment Building, 160 Units, 15/30, LIBOR + 2.40%, 75% LTV, Non-recourse, Par
Perm: Apartment Building, 22 Units, $1,800,000, 30/30, 6.60% fixed for 5 years then floating for 25 years, Recourse, Par
Perm: Apartment Complex, 128 Units, $10,200,000, T + 1.92%, 10/30, 1% lender fee
Perm: Apartment Building, 22 units, $1,000,000, 7.20% Fixed Rate, 10/30, 75% LTV, 1.25 DCR, Non Recourse
Perm: Apartment Portfolio (7 properties), 537 Total Units, $18,000,000, 6.95% rate (floor), 10/30, 78% LTV, Non-recourse, Par
Perm: Industrial R & D Portfolio, 197,000 s.f., $28,250,000, T + 2.40%, 10/30, Non-recourse, par
Perm: Office Building, 92,735 s.f. leased to 2 tenants, $11,000,000, 240 spread, 7.25% floor, 10/30, Non Recourse, Par
Perm: Promotional Retail Center, 75,000 s.f. includes OSH, Office Depot, $10,000,000; T + 2.45%, 10/30, 80% LTV, 1.25 DCR, Non-recourse, Par
Perm: Retail (Shadow Anchored), 37,500 s.f., $2,735,000, 6.85% rate (floor), 7/30, 75% LTV, Non-recourse, Par
Perm: Single Tenant Grocery Store, 51,000 s.f., $5,500,000, 250 spread, 7.15% floor, 75% LTV, 10/30, 1.25 DCR, Non Recourse, Par
Perm: Single Tenant Industrial (30% office buildout), 375,000 s.f., $13,800,000, 8.00% rate, 5/30, 75% LTV, Recourse, 1.0% Lender Fee
Variable Loan: 2 Walgreens, $2,760,750 and $3,534,00, 5 or 10 year term with 28 year amortization, first 2 years are interest only, 90 day LIBOR + 200, 5.00% floor, 75% LTV, 1.25 DCR, 0.5% lender fee.

(Please note that most transactions are subject to rate floors at the time of commitment)

HOT MONEY !

Attention Apartment Owners-Fannie Mae Financing at Rock Bottom Rates (No Floors!) Fixed Rate Program: Today's premium "Tier 2" (80% LTV). Pricing is 6.10%. Low leverage "Tier 4" (55% LTV) pricing as low as 5.72%. Floating Rate: Loans are prepayable or convertible to fixed during loan term and priced over LIBOR (1 or 3 month). For maximum leverage (77.5% LTV for floaters), Tier 2 start rate is 5.36%. Remember, there are no extra fees for processing Fannie Mae transactions with George Smith Partners.

* GSP is an L.A. correspondent for ARCS Commercial Mortgage, the nation's largest FNMA/DUS originator.

Note: Lender pricing and loan points are subject to change and exclude GSP loan placement fees.