GSPartners
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Volume XIX | No. 1 | January 5, 2011
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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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0.26%
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5 Yr US Treasury
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2.16%
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5 Yr Swaps
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2.30%
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12-MAT
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0.32%
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3 Month LIBOR
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0.30%
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10 Yr US Treasury
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3.48%
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10 Yr Swaps
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3.53%
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11th Dist COFI
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1.57%
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6 Month LIBOR
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0.46%
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30 Yr US Treasury
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4.55%
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| | George Smith Partners Arranges $840,000,000 in Financings for 2010 | We thank our clients and lenders very much for a successful 2010. GSP closed over 90 transactions with a wide array of capital sources including Banks, Life Companies, Funds, Credit Companies, GSE, etc. We also were retained on several litigation support, expert witness, consulting, DPO negotiations, etc. 2010 was a transitional year as the capital markets pendulum appears to be swinging back. Look for the detailed stats breakdown in next weeks FinFacts...... | | | George Smith Partners is Proud to Support VantageForum 2011 | UCLA Ziman Center and ULI Los Angeles have joined forces to present VantageForum , the must attend real estate event of 2011. This interactive program will provide attendees with information on trends in the real estate industry together with annual forecasts from ULI and UCLA Anderson School of Management. The program will address the impacts of the evolving global economy and changing market fundamentals on a local, regional and national basis. Take advantage of this unique opportunity to interact with influential executives across the economic spectrum as they discuss what lies ahead in the real estate industry. Where: UCLA Royce Hall. When: Tuesday, January 11. For more information and to register, click here. | | | | Transaction Description: | | $5,775,000 Acquisition/Construction/Perm for Large Single Family Residence in Malibu, Caliofrnia GSP arranged "one-stop shop" financing for a ultra luxurious dream home in a a prime area of this coastal community. The financing allowed our borrower to acquire the land and build the home without having to subsequently obtain a take out perm loan. This loan has a 30 year term with 5 years fixed. |
Challenge: Identifying a lender that understood the building process in the City of Malibu and "digest" the borrower's credit package in a timely manner. Comparable sales data was limited due to the specialized amenities and scale of the proposed home. |
Solution: GSP discreetly identified lending sources to make the market for the loan request. Borrower's invested considerable resources and expertise to plan this construction. Lender became comfortable with the transaction based on that, borrower financial strength and property location. |
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| | | Hot Money | Bridge Lending Program Includes Hospitality Further maturation of the cycle is evident as bridge lenders expand their strike zone. We spoke to a lender doing "lots of office and hotel deals right now" Properties need to be institutional quality with good sponsors. Transactions with an attractive basis on acquistion are preferred. Loan size: $15,000,000 and up (exceptions for "great deals"); Pricing: 7-9%. Non recourse. Lender is working on an empty office at 60% LTC in good market plus some hotel renovation deals at good basis and low leverage. | | | 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. | | | Green Shoots of Bank Optimism in Condos and Apartments - A New Blog Post by Steve Orchard | A number of senior debt quotes recently gathered are surprisingly positive, including terms for condo construction, non-recourse apartment construction, and term loans on fractured sale/rental residential collateral....to read the rest of the post, click here. | | | 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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©2011 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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