Hot Money

George Smith Partners is working with a capital provider financing cannabis loans up to $40,000,000 nationwide. With terms from 12-36 months, this lender has the ability to advance up to 75% of cost based on underwritten values and can close in under three weeks.  Pricing is from 9% to 12% for retail, distribution centers and bio-science/manufacturing properties in primary and secondary markets.

George Smith Partners is working with a national capital provider funding non-recourse bridge and mezzanine debt to 85% of value. The Lender offers flexible loan structures with interest only terms up to 6 years (inclusive of extension options) for transactions from $10,000,000 to $75,000,000. Floating rate pricing starts at LIBOR + 275. The Lender has a strong appetite for Multifamily, Office, Industrial, Retail and Hospitality properties located in primary, secondary and tertiary markets.

George Smith Partners has placed several hundred million dollars of performing real estate loans with a national portfolio capital provider structured with no pre-payment penalty. Transactions in primary and secondary markets from $1,000,000 to $10,000,000 fixed for five or seven year terms. This recourse lender will advance to 75% of appraised value assuming a 1.25 DSCR on in-place cash flow. Most loans close within 60 days. Application fees and bank closing costs (excludes 3rd party charges) are waived on new opportunities for the next three months.

George Smith Partners is currently placing non-recourse permanent financing from $1,000,000 to $25,000,000+ for industrial, office, retail or mixed-use stabilized properties located in top MSAs. Lender has the ability to advance up to 50 – 55% of purchase price. The pricing is based on Treasury rates + 200 points and terms are 3, 5, 7 and 10 years with step down prepayment that is waived after 2nd year if refinanced again with Lender. There is no cost to the borrower for appraisal, legal, title, escrow or recording. An additional $500 credit at escrow if Borrower provides all due diligence within 7 days from signing LOI.

George Smith Partners is working with capital provider funding non-recourse senior bridge transactions from $1,500,000 to $50,000,000 with a focus on core infill locations within top growth markets across the United States. Leverage at 85% for unentitled or entitled land and existing asset repositioning projects. Rates for bridge loans start at 7.9% for fixed terms up to two years and flexible prepay.

George Smith Partners identified a private commercial real estate finance company that provides non-recourse mezzanine financing for the acquisition, renovation and development of multifamily properties (with at least 20% of the units classified as affordable) located in the Western U.S. The financing is structured as a tax-exempt private activity housing bonds or 501(c)(3) bond. They can be used on mixed use 80/20 projects, for non-profit corporations, can be subordinate to HUD and Rural Development Loans and can be repaid from the sale of tax credits. With the ability to advance 90% of mezzanine loan programs range from $5,000,000 to $15,000,00. Interest-Only pricing for Acquisition / Rehab ranges from 8% – 10%, compounded monthly and Development ranges from 10% – 12%, compounded monthly.

GSP is working with an established equity source with a nationwide platform offering joint venture equity, preferred equity and mezzanine financing. Product types include for-sale homebuilding (single family, townhouses, condos), land development, build-to-rent and other residential related investments. The capital group is currently seeking opportunities with experienced builders and developers. Target investments range from $8M per deal and $25M programmatic joint ventures.

GSP is working with a capital provider that will provide recourse fixed rate financing to 75% of cost (90% + on build to suits) including, acquisition, improvements, development, pre-development, discounted payoffs, bankruptcy exit, purchase of notes and cash-out. Fixed rate pricing starts at 9% for terms up to 1 year with extension options up to 3 years for Multifamily, Office, Industrial, Retail, Special-Use, Entitled Land and Construction. Loan sizes range from $1,000,000 to $10,000,000 for transactions located in California, Arizona, Nevada, New Mexico and Washington.

George Smith Partners is placing non-recourse financing for debt sponsors nationwide on all major property types. With transactions sized from $3 million to $20 million for fixed rate bridge w/sub 1.0 cash flow, pricing starts at 5.50% for terms up to five years with flexible yield maintenance and up to 80% of cost. Pricing for floating rate transactions start at LIBOR + 325. Transactions go up to $50 million with terms up to five years and up to 85% of cost.

George Smith Partners is placing non-recourse financing for reposition transactions from $3,000,000 to $15,000,000 on light to heavy value-added properties nationwide. This institutional lender will finance Industrial, Retail, Office, Multifamily, Self-Storage, Student Housing and Medical Office. Lender will fund up to 80% of purchase and 100% of good news dollars with terms up to three years for transitional assets with no prepayment penalties and no LIBOR cap required.

George Smith Partners is placing non-recourse bridge debt, mezzanine debt, and preferred equity to 85% of cost through a national portfolio lender funding transactions from $2,000,000 to $15,000,000. The Capital Provider offers flexible loan structures with interest only terms between 1 to 5 years and extension options. Floating rate pricing starts from LIBOR + 325. Lender has a strong appetite for Multifamily, Office, Industrial, Retail and Hospitality properties located in primary, secondary and tertiary markets.

George Smith Partners is working with a national provider funding fixed and floating rate bridge loans from $7,000,000 to $65,000,000 and pricing between 600-900 over LIBOR on a non-recourse basis. With terms from 12-36 months, this lender has the ability to advance 80% of purchase price for new acquisitions, renovations, restructuring, partnership buyouts, construction and special situations. Asset types include Multifamily, Office, Retail, Industrial, Warehouse, Mixed Use, Manufactured Housing, Self-Storage, Senior Housing, Student Housing, Medical Office and Commercial and Residential Land.