GSPartners
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Volume XV | No. 11 | April 4, 2007
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KEY RATE INDICES
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Prime Rate
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8.25%
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1 Month LIBOR
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5.32%
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5 Yr US Treasury
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4.53%
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5 Yr Swaps
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4.99%
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12-MAT
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5.03%
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3 Month LIBOR
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5.35%
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10 Yr US Treasury
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4.64%
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10 Yr Swaps
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5.17%
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11th Dist COFI
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4.38%
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6 Month LIBOR
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5.33%
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30 Yr US Treasury
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4.83%
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| | | Transaction Description: | | $15,000,000 (75% LTV) Permanent Financing for 80,854 Sq. Ft. Retail Center in Santa Ana, California. GSP arranged $15,000,000 of senior permanent financing (75% LTV) for the refinance of an 80,854 sq. ft. retail center located in Santa Ana, California. The property is 98% leased, including 40% to a single tenant through January 2009. Unique Characteristics: The loan includes capped reserves and a master lease to solve for the potential rollover of the anchor tenant. |
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| | | Hot Money | | National Lender Will Fund up to 30 Years, Self-Amortizing Loans. Up to 40 years amortization for apartments. Ideal for borrowers looking for longer loan terms. Streamlined documents and process. Construction and bridge financing also available. | | HIGHLIGHTS | | Transaction Size: $1-30 M | | Rate: Treasury-based, will consider floating | | Loan Term: up to 30 yrs | | Amort: up to 30 yrs (comm); up to 40 yrs (multifamily); I/O up to 5 yrs | | Max LTV: 75%, 90% for SBA | | Max LTC: 80% | | Min DCR: 1.15 apt, 1.20 comm | | Recourse Negotiable | | Property Types: Will consider most product types | | Prepayment: Flexible | | Fees: Flexible | | Geography: Nationwide |
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| | | Interest Rate/CMBS Update | The 10 Year Treasury hit a recent high yesterday at 4.66% on a stronger than expected housing report that seemed to mitigate concerns about the subprime market. CMBS: Spreads widened in the last week (again, mostly in the BBB tranche), some lenders indicate that “break-even spreads” widened about 3-5 bps. Stay tuned… (David R. Pascale, Jr.) | | | Speakers Corner |
Gary M. Tenzer, GSP Principal/Senior Director, will moderate a panel discussion entitled “New Kids on the Block: An Introduction to New Capital Sources” at the West Coast Structured Finance Conference onTuesday, May 1, 2007. The event is sponsored by the Los Angeles Mortgage Association (LAMA) and will be at the Skirball Cultural Center, Los Angeles, CA. Panelists include:
· Joan Kramer, Managing Director, Marathon Asset Management
· Jay Rollins, President & CEO, JCR Capital
· Douglas Vikser, President, Coress Capital
· John C. Bauer, Senior Director, Tremont Realty Capital
| | | | | | Join Us As We Reach New Heights | George Smith Partners is in the midst of a record-setting period of growth. As we continue to reach new heights, we are selectively seeking several seasoned and successful financial professionals to join our team. Please direct confidential inquiries to Todd August, Chief Operating Officer, at (310) 557-8336, Ext. 125.
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©2007 George Smith Partners, Inc. FINfacts is an ePublication of
George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
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