GSPartners
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Volume XVII | No. 37 | December 2, 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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0.23%
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5 Yr US Treasury
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2.79%
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5 Yr Swaps
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2.34%
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12-MAT
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0.48%
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3 Month LIBOR
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0.26%
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10 Yr US Treasury
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3.31%
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10 Yr Swaps
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3.35%
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11th Dist COFI
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1.259%
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6 Month LIBOR
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0.49%
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30 Yr US Treasury
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4.25%
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| | | Non Recourse First Mortgage Financing for Commercial Properties Established balance sheet lender actively providing flexible and reliable capital for floating-rate first mortgage loans. Has $1.5BB of lending power for high quality and well located assets primarily in the Western US. Competitive with life companies, plus flexible prepayment without yield maintenance and creative structure to meet the needs of each deal. Provides speed and certainty of execution that is essential for acquisitions and DPOs in today’s market. | | Transaction Size: $15,000,000-$75,000,000 | | Rate: 7.5 - 9.0% | | Loan Term: 3-5 years | | Amort: Interest Only | | Max LTV: 65-75% | | Max LTC: 65-75% | | Min DCR: NA | | Non-recourse | | Property Types: Office, Industrial, Retail, Multifamily, Flagged Hospitality | | Fees: 1.0% | | Geography: Western US focus |
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| | | National Lender Actively Funding Senior Housing / Healthcare HUD-Insured Loans. | This is unique prgram is ideal for owners, operators, and investors that are seeking to refinance, acquire, or rehabilitate senior housing assets. The lender has consistently ranked among the country’s top FHA-insured HUD lenders, having closed more than $2 billion in HUD-insured loans since the mid-1990’s. This capital provider is actively financing HUD-insured projects that are stabilized and have a history of strong cash flow and occupancy. Transaction size: $2,500,000 or greater; Current Rates: 5.0% (based upon current market rates); Loan Term & Amortization: 35 years for refinance or acquisition and 40 years for substantial rehab; Max LTV: 80% - 85%; Min DCR: 1.18; Non-Recourse; Property Types: Nursing Homes, Assisted Living Facilities, Personal Care Homes, Psychiatric Hospitals; Geographic Preference: Nationwide. | | | Mezzanine Lender Seeking to "Close the Gap" Above Conservative Perm Lenders | This lender is funding large mezzanine loans on cash flowing properties. The mezzanine loan amounts are $10,000,000 and up. With 1st TD lenders topping out as low as 55% LTV, this financing can avoid costly "rebalancing" on refis coming off of high leverage CMBS or construction loans. Note that banks and life companies are wary of "sliced and diced" mezzanine loans where "tranche warfare" may occur. This is a true fund lender with asset management expertise. Loan Size: $10,000,000 and up Pricing is in the mid-teens for 3-5 year loan terms, leverage up to 70-75%. Lender is targeting cash flowing properties in strong markets, basic 4 product types. | | | 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. | | | Capital Markets Update: CMBS Revived | GSP's Nick Silbergeld has written a detailed analysis of the recent successful DDR transaction, TALF and Non TALF aided CMBS, and prospects for CMBS next year and beyond. To read the article, click here. | | | Pascale's Perpective | Some Thanksgiving weekend indigestion occurred as Dubai World announced a "standstill" on debt payments, triggering fears of a default on bonds. Some thought it was 1997 (Asia), 1998 (Russia) or 2007 (USA-subprime) all over again. As more information became available regarding potential aid other Emirates such as Abu Dhabi, the "fear factor" subsided. Once again, it was the fear of the unknown exposure and counterparty risks that could have triggered a panic. A reminder that the world economy is nowhere near "out of the woods"........Stay tuned.....David R. Pascale, Jr. | | | Come Grow With Us | George Smith Partners is expanding its team of top-notch mortgage brokers/originators. 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 Todd August, Chief Operating Officer, at (310) 867-2995. |
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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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