Hot Money

George Smith Partners is working with a non-recourse capital provider funding bridge loans from $10,000,000 to $50,000,000. With a focus in California, the portfolio lender will fund up to 60% of value but will allow a recorded second Deed of Trust behind them up to 85% of value. With terms up to one year, program highlights include no prepayment and interest only. Decision making is flat and seven-business day close is their normal execution.

George Smith Partners is currently placing recourse and non-recourse, small balance financing up to $15,000,000 and up to 100% LTC. With a focus on ground up construction, renovation and repositioning in California the lender offers rates ranging from 6% to 10% and terms from 6-12 months with extension options. The lender favors the industrial and multi-family sector, but they will also consider retail, office and small multi-residential for sale.

George Smith Partners identified an equity provider offering rescue capital for all asset types in major MSA’s. With a focus on recapitalization and repositioning assets, equity starting at $10,000,000 and going to approximately $30,000,000, they can provide Pref Equity with rates starting at 14%.

George Smith Partners identified an equity provider offering rescue capital for nationwide full-service hospitality and mixed-use assets. With financing starting at $5,000,000 and going to approximately $20,000,000, they can provide Pref Equity and Mezzanine capital with rates starting at 12%. Locations of interest are in strong markets with high barriers to entry and development sites with the potential to build strong hotel assets from the ground up.

George Smith Partners is currently originating and closing fixed and floating rate loans for permanent, bridge and ground-up development with an institutional portfolio lender. With a strong appetite for multifamily, the capital provider offers rates starting at 4% for transactions from $2,000,000 to $50,000,000 for CRE loans and to $35,000,000 for ground-up construction. For stabilized and cash flowing assets, non-recourse and interest-only options are available along with aggressive underwriting down to a 1.15x DSCR.

George Smith Partners is currently originating and closing fixed and floating rate loans for permanent, bridge and ground-up development with an institutional portfolio lender. With a strong appetite for multifamily, the capital provider offers rates starting at 4% for transactions from $2,000,000 to $50,000,000 for CRE loans and to $35,000,000 for ground-up construction. For stabilized and cash flowing assets, non-recourse and interest-only options are available along with aggressive underwriting down to a 1.15x DSCR.

George Smith Partners is placing non-recourse financing for debt sponsors nationwide for multifamily, self-storage and industrial properties. With transactions starting at $20,000,000 for fixed rate bridge w/sub 1.0 cash flow, pricing starts at L+375 with a LIBOR floor of 1.25% (min 5.0% coupon). With terms up to five years with flexible yield maintenance and up to 80% of cost the lender offers IO during the initial term then amortization on a 30-year schedule.

GSP identified an equity provider offering rescue capital for constrained borrowers with refinancing shortfalls and pending loan maturities in primary and select secondary markets nationwide. Starting at $10,000,000, they will consider property facing significant unexpected vacancy from failed tenants for specialty assets exposed to co-working operations as well as assets in markets with significant exposure to tourism and entertainment.

George Smith Partners has begun placing non-recourse bridge financing structures for multi-family, flagged hospitality and best in class retail. The lender is specifically focused on properties located in both major and secondary Western States MSA’s. Loans are up to 80% leverage with 2-3 year terms, interest only. Pricing is based on LIBOR and blends to the mid to high 5.00% range depending on asset type and last dollar.

George Smith Partners identified a national capital provider funding non-recourse, LIBOR-based fixed rate financing for the acquisition and refinance of stabilized residential rental properties. The lender will consider SFR, Townhomes, 2-4 Family, Condominium units and Multifamily properties. With financing starting at $1,000,000, rates starting at 5.15% and term options at 5 or 10-years balloon, the lender can close 30-45 days from an executed term sheet.

George Smith Partners identified a national joint venture equity provider seeking to invest in multifamily properties with strong current cash flows in partnership with strong sponsors. With the ability to go up to 90% of the total capital stack, the equity provider will fund equity contributions from $1,000,000 to $20,000,000 inclusive of secondary and tertiary locations. The Sponsor will receive a promote structure based on each transaction’s merits.

George Smith Partners is currently placing non-recourse bridge financing up to $20,000,000 for all major property types nationwide. This balance sheet lender offers up to 70% LTC for loans with terms 3+1 each extension option at 0.5%. Pricing is L+450-550 on a 0.5% floor with 0% in and 1% to 1.5% exit fee. They can close in 30 days from application.