Hot Money

George Smith Partners has identified a capital provider financing bridge loans up to 80% of cost from $2,000,000-$100,000,000. Terms are interest only, range from 1-5 years, and are non-recourse. Floating rate pricing starts at SOFR + 400 with no interest rate cap required. Fixed-rate pricing starts at 6.50% with a 12-month yield maintenance. Lending to primary and secondary markets nationwide, this lender can close in as little as 1 week for all asset types.

George Smith Partners has identified a capital provider financing construction projects up to 90% of cost. Loans range from $25,000,000- $150,000,000 and are non-recourse for up to a 36-month term. Lending nationwide, pricing starts at SOFR+600 and can close in under 60. Fixed pricing is also available with interest only during the initial term. This lender also provides bridge financing for most asset classes including self-storage, condos, hotels, and SFR.

George Smith Partners has identified a capital provider financing bridge loans starting at SOFR + 350 for loan amounts $20,000,000 and up. With leverage up to 65%, this lender does not require interest rate caps. While this capital provider does not finance ground up construction or land, they will provide financing for properties pre-TCO. This program is suited for properties that are within the 4 major property types and located anywhere in the US west of Colorado. 

George Smith Partners has identified a capital provider financing fixed rate bridge loans for value-add multifamily acquisitions with proceeds up to 80% of purchase price and 100% of renovation costs and/or tenant improvements. Loan amounts range from $2,000,000 – $25,000,000 for a term of 3 years plus extensions. This lender provides non-recourse financing and stepdown prepayment options. Floating rate pricing is also available up to $60,000,000.

George Smith Partners has identified a capital provider financing multifamily properties with mezzanine debt and preferred equity up to 88% LTV. Loan sizes range from $5,000,000-$55,000,000 and can be structured behind senior lenders, agency, LifeCos, and bridge loans. With terms from 1-10 years, this lender will allow open prepayment without penalty. Lending nationally, loans are non-recourse and do not have a minimum debt service coverage.

George Smith Partners is currently working with a capital partner focused on Build-to-Rent (BTR) projects. They are actively seeking to issue Preferred Equity on ground-up construction projects up to 85% LTC with check sizes ranging from as little as $5,000,000 to over $40,000,000 per transaction. Geographical focus on primary and secondary US growth markets and qualifying assets include all flavors of build-to-rent, single-family for rent, townhomes, cottages, duplexes, and other residential products. Please reach out to us if you would like to find out more. 

George Smith Partners is working with a capital provider financing value-add transactions up to $100,000,000. With rates starting at 30-Day Term SOFR +5.00%, all asset types are eligible including development sites and infill land. With leverage up to 65%, this lender offers full-term interest only and non-recourse terms. Lending nationwide, they are able to close in as quickly as 2 weeks.

George Smith Partners identified a balance sheet capital provider with no legacy assets focused on market dislocation opportunities. Providing non-recourse financing, transaction size ranges from $25,000,000 – $150,000,000 for reposition and construction requests. Favored assets include multifamily, hospitality, and industrial, but will look at all assets. leveraged to 70% of cost, rates priced from SOFR + 5.00%.

George Smith Partners is working with a capital provider financing first-lien bridge loans from $2,000,000 – $50,000,000. The program is non-recourse and covers all asset types including hospitality(Motel 6) and industrial. The lender is also active with special use assets such as marinas. With leverage up to 75%, rates start at SOFR + 5.50%. This lender can close in as quickly as 21 days and is active across 42 states.

George Smith Partners is working with a capital provider offering fixed rate financing up to $75,000,000 with rates starting at T + 2.00%. Funding up to 70% LTV, they lend on all major asset types, both stabilized and near-stabilization. This program is full term interest only and the lender underwrites to the IO rate. 5 – 30 year terms are available with flexible prepayment options across all primary, secondary, and some tertiary markets. This capital provider also has bridge financing starting at SOFR + 2.75 and construction proceeds up to $750,000,000 starting at SOFR + 3.75.

George Smith Partners is working with a capital provider financing ground up construction with rates starting at 5.75%. With the ability to go up to $10,000,000 in proceeds, this Lender has non-recourse and interest only options with 2-, 3-, and 5-year terms. Lending in the Western states, with a focus on California, they have a strong appetite for multifamily, industrial and low-rise office.

George Smith Partners recently went into app with a capital provider financing land acquisition with pricing just over 6%. The balance sheet lender can provide financing on all major asset types, provided that the property is within its geographic footprint of NV, UT, OR, and ID. Financing up to $15,000,000 with no prepayment penalties, loans can close in less than 30 days. Interest only options are available.