Hot Money

George Smith Partners is currently placing non-recourse financing for multifamily (including MHC and student), office, self-storage, mixed-use and industrial properties nationwide. This lender currently offers up to 75% of total costs and 70% of stabilized value. They focus on middle market transactions offering loan amounts from $10,000,000 to $50,000,000 (will selectively lend on larger transactions) with terms up to five years. The Lender offers competitive LIBOR-based pricing with flexibility on lockout/yield maintenance period. They are a balance sheet lender that does not leverage their positions with CLO’s, warehouse lines, or REPO facilities which ensures certainty of execution and aligned asset management. The lender is capitalized by institutional investors.

George Smith Partners is currently placing non-recourse, high-leverage construction bridge and land loans in the Western U.S. This Lender offers rates from 7% -12%, high leverage, terms up to three years and can close in under two weeks for loans up to $35,000,000. They focus on entitlement land plays, adaptive re-use, covered land plays, recaps; Build-to-suits and pre-leased properties. They will also consider property types such as condominiums, flex buildings, mixed-use, R&D/Bioscience, resorts, retail single tenant, NNN and self-storage.

George Smith Partners is working with a nationwide capital provider funding 100% LTC for NNN build-to-suit projects. This lender is also funding high leveraged construction loans for pre-leased medical properties and self-storage properties up to $20,000,000. Rates are between 8% – 12% and terms vary by product type. In addition, they provide small balance JV equity for development and value-add properties.

George Smith Partners identified a national capital provider of non-recourse term, bridge and construction financing for 1-4 family rental portfolios and Build-to-Rent projects. Rental portfolio term loans start at $1,000,000 with rates starting at 4.25% for 5 and 10-year term options. Bridge loans (lines of credit) facilitate acquisition, rehab and aggregation strategies with financing options at 80% LTC and rates between 6.5% and 9.0% (depending on strategy). The lender will also go up to 75% LTC on Build-to-Rent projects and can close within 30-45 days from an executed term sheet.

National fixed rate lender funding all asset types (except hotels) starting at $5,000,000 on a non-recourse basis. Retail appetite is currently limited to grocery anchored centers. Debt yield expectations like pre-COVID levels. Full term interest only is available up to 65% LTV for quality properties. The lender offers sub 3.00% coupon available for low leverage loans (10.5% debt yield or higher).

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.