|
FINfacts™ XXIV – No. 345 | November 28, 2022
|
|
|
| Prime Rate |
 7.00% |
| 1 Month LIBOR |
3.96% |
| 6 Month LIBOR |
5.14% |
| 5 Yr SOFR Swap |
3.76% |
| 10 Yr SOFR Swap |
3.51% |
| 5 Yr US Treasury |
 4.01% |
| 10 Yr US Treasury |
3.83% |
| 30 Yr US Treasury |
3.89% |
|
|
|
Rate: Prime + 1.25%
LTC: 65%
Guaranty: Non-Recourse
|
|
Transaction Description:
George Smith Partners is pleased to announce the successful arrangement of a $46,800,000 construction loan for the development of a 247-unit build-to-rent community in Foley, Alabama. Through GSP’s strong relationship with the bank, GSP was able to successfully negotiate a 65% LTC, Non-recourse loan to fund parri-passu with the JV’s equity at WSJ Prime + 1.25% through construction. Pricing reduces and leverage increases to 70% LTC upon preset leasing hurdles.
|
|
|
|
If you have an inquiry regarding George Smith Partners’ commercial real estate financing, please contact your GSP representative or Jessica Mania, at (310) 867-2974 or jmania@gspartners.com
|
|
Constellation Place
10250 Constellation Blvd., Ste. 2700
Los Angeles, CA 90067
|
|
|
|
© 1999 - 2024 George Smith Partners, Inc. DRE # 00822654 FINfacts is an ePublication of George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
|
|
|
|
Hi, just a reminder that you're receiving this email because you have expressed an interest in George Smith Partners. Don't forget to add finfacts@gspartners.com to your address book so we'll be sure to land in your inbox!
|
|
