GSPartners
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Volume XVIII | No. 30 | August 4, 2010
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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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0.30%
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5 Yr US Treasury
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1.60%
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5 Yr Swaps
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1.71%
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12-MAT
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0.37%
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3 Month LIBOR
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0.42%
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10 Yr US Treasury
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2.94%
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10 Yr Swaps
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2.90%
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11th Dist COFI
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1.80%
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6 Month LIBOR
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0.65%
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30 Yr US Treasury
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4.07%
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| | | Transaction Description: | | $1,800,000 Mixed Use Owner User Transaction, 10 year term at 5.34% Unusual product type: Property is half office and half nightclub bar. Property location (Santa Monica, CA) and sponsor were very strong. Borrower was rate conscious and decided on a 10 year fixed rate (instead of 5 years fixed). The loan features flexible prepayment AND fixed rate, ie "best of both worlds" |
| | Rate: 5.34% (CMT + 2.21%) | | Term: 10 years | | Amort: 25 years | | LTV: 55% | | Prepayment: 5,4,3,2,1% | | Recourse | | Lender Fee: Par | | Broker: Marc Schillinger |
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| | | Hot Money | Apartment Fixed Rates at Historic Lows Agencies, CMBS, Insurance companies are aggressively pricing multifamily loans right now. This is the best fixed rate environment in several years. 5 year loans at sub 4%, 10 year loans sub 5%. Fixed rate, non recourse, up to 80% of value, 30 year amortization. We are seeing borrowers prepay and defease to take advantage of the rate environment. | | | Hot Money | Nationwide Porfolio Lender has $70,000,000 "Bucket of Mezz" to Place by End of Year Mezzanine loan amount: $15,000,000 to $40,000,000 (but will consider as low as $10,000,000 selectively). Lender will go to 85% LTV. Will go behind CMBS as preferred equity if needed. All major property types considered. Rates are in the low to mid teens with preferred transactions as low as 12%. | | | Hot Money | Fixed Rate Loans with No Prepay? Yes! Portfolio Lender is Funding 5 year Fixed Rate Loans With No Prepayment Penalty. This program is ideal for borrowers looking to lock in financing costs and retain flexibility. Most transactions are in California, but can go nationwide in good markets. Lender especially likes health care oriented properties such as medical office, surgery centers, etc. Will also finance standard office, retail, industrial. Single tenant properties ok with some structure for rollover reserves, etc. "Old Fashioned" simple documentation with low closing costs and smooth process. Lender will consider loans up to $9,000,000, but sweet spot is about $5,000,000. Transaction Size: $1,000,000 to $9,000,000; Rate: 6% to 7%; Loan Term: 5 years; Amort: 25 year; Max LTV: 75%; Max LTC: 75%; Min DCR: 1.25 (after reserves); Recourse; Property Types: Retail, Office, Industrial, Med Office, other Health Care; Prepayment: None; Fees: 1%; Geography: Nationwide | | | 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. | | | Join Us on LinkedIn | George Smith Partners is now on LinkedIn. Click here to join the George Smith Partners group to get access to current conversations and topics. | | | Pascale's Perspective | Spotlight on CMBS: A $788 million multi borrower, "classic CMBS" pool went to market this week. The bonds sold well with high demand. We hear some new originators are getting back in the market. Treasuries, swaps and LIBOR are all remaining at historic lows......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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©2010 George Smith Partners, Inc. DRE # 00822654 FINfacts is an ePublication of
George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
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