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FINfacts™ XXIV – No. 345 | November 28, 2022
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| 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% |
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Rate: Prime + 1.25%
LTC: 65%
Guaranty: Non-Recourse
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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.
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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
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Constellation Place
10250 Constellation Blvd., Ste. 2700
Los Angeles, CA 90067
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© 1999 - 2023 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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