GSPartners
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Volume XVI | No. 18 | June 18, 2008
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KEY RATE INDICES
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Prime Rate
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1 Month LIBOR
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5 Yr US Treasury
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5 Yr Swaps
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12-MAT
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3 Month LIBOR
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10 Yr US Treasury
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10 Yr Swaps
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11th Dist COFI
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6 Month LIBOR
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30 Yr US Treasury
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| | Headline | | | | | Transaction Description: | | $4,900,000 Bridge Financing, 70% LTV, for the Acquisition of a Multi-Tenant Retail Center in Los Angeles, CA. GSP secured financing for a very experienced property owner/developer on this 13,000 sq. ft. complex. |
Challenge: The facility was a little more than 70% vacant at closing, there was an environmental flag, and we had a little more than three weeks to close. The sponsor wanted the deal done as quickly as possible as there was an all cash offer on backup. |
Solution: GSP identified a lender with an extremely competitive quote and was able to quickly acquaint the lender with the market and sponsor. GSP was also able to negotiate higher loan proceeds and a release provision once the property is stabilized. |
| | Rate: 7.25% “all-in” rate | | Term: 5 yrs | | Amort: I/O | | LTV: 70% | | Recourse | | Lender Fee: 1.0% |
Key Players: Christian Lawrence
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| | | | Life Company Gets New Allocation of Permanent, Fixed Rate Capital. Non-recourse. Institutional real estate in gateway cities. Will not do healthcare. Approval may be as fast as two weeks, subject to due diligence. Mezzanine financing also available. | | Transaction Size: $10-50M | | Rate: 6.75% floor | | Loan Term: 5, 7, 10, 20, 30 yrs | | Amort: up to 30 yrs | | Max LTV: 70% | | Min DCR: 1.25 | | Non-recourse | | Prepayment: YM | | Fees: 0.25% | | Geography: Nationwide |
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| | | George Smith Partners 2008 Private Briefing Series | | | | Come Grow With Us | George Smith Partners is expanding its team of top-notch mortgage brokers – originators and assistants. We offer highly competitive compensation and an excellent environment in which to work, learn and be supported. GSP provides its employees with cutting edge market information, resources for identifying the best capital sources for each transaction, training opportunities and peer support whenever it is needed.
We invite you to consider a career with George Smith Partners. Please direct confidential inquiries to Stella Debibi, Director of Business Development and Recruitment, at (310) 557-8336, Ext. 103.
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©2008 George Smith Partners, Inc. FINfacts is an ePublication of
George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
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