GSPartners
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Volume XVII | No. 6 | April 8, 2009
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KEY RATE INDICES
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Prime Rate
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3.25%
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1 Month LIBOR
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0.46%
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5 Yr US Treasury
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1.82%
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5 Yr Swaps
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2.45%
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12-MAT
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1.44%
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3 Month LIBOR
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1.14%
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10 Yr US Treasury
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2.84%
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10 Yr Swaps
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3.11%
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11th Dist COFI
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2.00%
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6 Month LIBOR
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1.69%
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30 Yr US Treasury
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3.66%
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| | | National Real Estate Lender Focused on Refinancing, Acquisition, Value-add and Bridge Lending Opportunities. GSP has identified a nationwide balance sheet lender actively looking to expand their commercial real estate portfolio. This lender's compact management team and approval process affords them flexibility to take on unique deals typically overlooked by more conventional / conservative balance-sheet lenders. Will consider all asset classes including: office, retail, industrial, multi-family, self-storage, manufactured housing, assisted living and special use properties. | | Transaction Size: $2M - $15M | | Rate: Floating over prime | | Loan Term: 1 to 5 years | | Amort: Typically interest only | | Max LTV: 70% | | Recourse | | Property Types: All major asset classes | | Prepayment: Typically without penalty or restrictions | | Fees: Varies depending on loan structure | | Geography: Nationwide |
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| | | If you have an inquiry regarding George Smith Partners' commercial real estate financing, asset sales or advisory services please contact your GSP representative or Todd August, Chief Operating Officer, at (310) 867-2995 or taugust@gspartners.com. | | | | | | | Transaction Description: | | GSP Asset Sales Group is proud to announce the successful close of a REO Beachfront property in Southern CA, sold on behalf of a regional lender. Working on an extremely tight schedule, the team of David Rifkind, Craig Hamilton, and Max Friedman worked expeditiously to meet the seller’s requirement of a no-contingency, month-end close. The transaction involved complex title issues to which GSP quickly reacted and provided a solution acceptable to all parties involved. In addition, the team has generated quick close offers on other commercial and residential properties in Southern California and Las Vegas.
The Asset Sales Group continues to market Notes and REO Assets for sale. For more information regarding the GSP Asset Sales Group please contact your GSP representative or Max Friedman at (310) 557-8336 x 128 or mfriedman@gspartners.com.
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| | | Transaction Description: | | Acquisition of an 8 Unit Multi-Family Property in Los Angeles, California. GSP arranged the financing for the acquisition of an 8 unit multi-family property located in Los Angeles. |
Challenge: Standard acquisition transaction for high net worth client. The borrower requested highest LTV possible and the lowest monthly payment. The building was 1920 construction so some foundational issues arose. |
Solution: GSP worked with the lender to structure 75% LTV loan with a sub six interest rate including a marginal holdback in order to bolt the foundation of the property to alleviate foundational concerns. |
| | Rate: 5.375% | | Term: 30 years | | Amort: 30 years | | LTV: 75% | | Prepayment: Step-down | | Recourse | | Lender Fee: Par | | Key Players: Marc Schillinger |
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| | | Speakers Corner | GSP Senior Vice President Andrew Levant has accepted an invitation to participate as a judge for the Fourth-Annual International Real Estate Case Competition, hosted by the Marshall School of Business at the University of Southern California.
The competition is held on the USC campus in Los Angeles and features oral and written presentations from teams of real estate students from some of the top undergraduate business and real estate schools in the world before a panel of adjudicators drawn from the real estate industry. Past events included teams from USC, UT Austin, Univ. of Pennsylvania Wharton, Univ. of Colorado, Univ. of Wisconsin, National Univ. of Singapore, Univ. of Auckland, and the Univ. of British Columbia.
This will be Mr. Levant's second year participating as a judge. The event is scheduled for April 14 though April 17th, 2009. More info can be found at following link: http://www.uscrealestatecompetition.com/Welcome.html. | | | Come Grow With Us | George Smith Partners is selectively seeking several seasoned real estate professionals with work-out and restructuring experience to work in GSP's Loan Work-Out / Restructuring Group. GSP offers highly competitive compensation and an excellent environment in which to work.
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) 867-2901. |
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©2009 George Smith Partners, Inc. FINfacts is an ePublication of
George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
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