GSPartners
|
|
|
|
Volume XX | No. 44 | November 7, 2012
|
|
|
|
|
|
|
|
|
|
KEY RATE INDICES
|
|
Prime Rate
|
3.25%
|
1 Month LIBOR
|
0.21%
|
5 Yr US Treasury
|
0.67%
|
5 Yr Swaps
|
0.80%
|
|
12-MAT
|
0.17%
|
3 Month LIBOR
|
0.31%
|
10 Yr US Treasury
|
1.68%
|
10 Yr Swaps
|
1.71%
|
|
11th Dist COFI
|
1.04%
|
6 Month LIBOR
|
0.53%
|
30 Yr US Treasury
|
2.83%
|
|
|
|
| | | Transaction Description: | | $6,600,000 Acquisition Loan of an Industrial/Warehouse Building at 90% of Cost GSP arranged the acquisition loan for an 80,000 square foot industrial/warehouse building in the San Fernando Valley. The buyer is a growing discount retailer. Their own bank offered attractive financing, but GSP introduced a new capital provider who offered an extra $250,000 for capital improvements while securing a 50 basis point lower rate for the 20-year fixed rate term. GSP also improved terms with a 50% reduction in the lender origination fee, extended the amortization by ten years, and secured 6 months of interest only while the Borrower/Tenant initiates operations at this location. Of significant importance to the Borrower was the flexible pre-payment schedule and assured close under a time-bound purchase contract. The 4.30% loan is fixed for 20 years, amortized over 30 years, and closed on schedule, as applied for. |
| | Rate: 4.30% Fixed for 20 Years | | Term: 20 Years | | Amort: 6 Months IO; 30 Years | | LTC: 90% | | Prepayment: 5/4/3/2/1, open | | Recourse | | Brokers: Steven Orchard, Michelle Lee |
|
|
| | | Transaction Description: | | 3.95% Ten Year Fixed Rate Refinance GSP successfully placed the refinanced of a pair of Playa Del Rey office buildings for a prominent Los Angeles law firm. The borrower requested a minimum of 10 years fixed for this owner/user asset. The property is held in family trusts and GSP identified the lender that was comfortable with the loan guaranty structure. GSP negotiated a 10-year fixed-rate loan below 4% for this no-cash-out refinance. |
| |
|
| | | | Portfolio Capital Provider Expands Market Presence with Pre-Payable Commercial Debt A Pacific Northwestern Bank has expanded their commercial lending market for stabilized assets. Loan requests from $2,000,000 to $15,000,000 will be considered for core products (Industrial, Retail, Office & Multifamily) from the San Francisco Bay Area north to the Canadian Border. Rates start in the low-4% range for five year fixed. Ten year fixed terms are also available to 75% LTV. Program guidelines offer very flexible prepayment options, no legal fees, reserves, tax or insurance impounds. |
| | | Hot Money | Middle Market Bridge Debt A West Coast regional lender is stepping up to fill the void of reposition financing on middle market assets from $5,000,000 to $15,000,0000. Transactions may be sized to as large as 90% of current value subject to a 75% LTV exit upon stabilization. Below break-even or vacant assets may be funded with an interest reserve although ground-up construction will not be considered. This non-recourse debt is priced a LIBOR+5.50%, with 1-in & 1-out. Core products and hospitality will be underwritten along the West Coast. | | | If you have an inquiry regarding George Smith Partners' commercial real estate financing, please contact your GSP representative or Todd August, Chief Operating Officer, at (310) 867-2995 or TAugust@GSPartners.com. | | | Speakers Corner | Founding Partner Steve Bram will be a featured speaker at The Syndication Summit on Saturday November 17th. Discussions will detail the structuring of a successful partnership, legal and tax issues as well as financial advisory services. The all-day event will be held at the Luxe Hotel in Brentwood. To learn more about the event or on-line registration, click here. |
|
|
|
|
©2012 George Smith Partners, Inc. DRE # 00822654 FINfacts is an ePublication of
George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
|
|
|
|
|
|
|
|
