Hot Money

George Smith Partners is working with a national lender providing non-recourse construction financing for spec office, industrial and for-sale condo projects up to $100,000,000. Completion guarantees will still be required. With the ability to advance 95% of development value, pricing starts at 7% for terms up to three years. The lender can close quickly.

George Smith Partners is currently placing non-recourse stretch senior loans, subordinate debt, preferred equity, JV equity and stretch senior loans for all major property types nationwide. This Lender offers up to 95% LTC for stretch senior loans (min $60,000,000 total capitalization) and for preferred equity / JV equity (min $20,000,000) with terms ranging from two to ten years.

GSP identified a LP Equity provider for ground up development, value-add and core properties including anchored & unanchored retail for mixed use, retail or multifamily projects. Target in top MSA’s and assume 60-65% leverage. Gross deal size is $40,000,000 – $150,000,000.

George Smith Partners is working with a national portfolio lender providing construction loan take-out permanent programs for all product types ranging up to $65,000,000 in primary and secondary markets prior to stabilization. With the ability to advance 75% of development cost, pricing starts at 3.50% for terms from five to ten years and the program offers a flexible stepdown prepayment. This lender offers true non-recourse and carve outs to an entity and not a warm body.

George Smith Partners is currently placing non-recourse small balance financing for owner occupied and investment properties. For owner occupied properties, this lender offers 80% LTV on conventional financing up to $5,000,000 and up to 90% LTV with an SBA 504 loan up to $10,000,000. For investment properties including industrial and office buildings, retail properties, warehouses and multifamily/apartment buildings, their commercial loan programs can provide up to $3,000,000 in financing with 75% LTV. The Lender waives loan fees on new deals.

George Smith Partners is currently placing non-recourse small balance financing for owner occupied and investment properties. For owner occupied properties, this lender offers 80% LTV on conventional financing up to $5,000,000 and up to 90% LTV with an SBA 504 loan up to $10,000,000. For investment properties including industrial and office buildings, retail properties, warehouses and multifamily/apartment buildings, their commercial loan programs can provide up to $3,000,000 in financing with 75% LTV. The Lender waives loan fees on new deals.

George Smith Partners is working with a national capital provider that will provide non-recourse fixed rate financing with an earnout up to 80% of cost. With terms up to 5 years, loan sizes range from up to $40,000,000 (larger in certain circumstances) and pricing starting in the high 200 bps over LIBOR for core asset types as well as co-living, self-storage, student housing, hospitality, commercial condo and specialty use. Program highlights include no negative arb, flexible prepayment and non-cash flowing assets.

George Smith Partners is working with a national capital provider funding non-recourse bridge debt to 80% of total cost. True proforma based underwriting with a strong appetite for Multifamily and Mixed- Use properties (up to 100+units) with no in-place cash flow requirements. The Lender offers flexible loan structures with interest only terms up to 3 years for transactions up to $15,000,000. Risk adjusted, fixed rate pricing starts at 6.75%, fixed for the life of the loan with no extension fees. Closing costs including lender legal are less than $2000.

George Smith Partners is placing high leverage non-recourse bridge debt up to 80% + of cost through a national portfolio lender. Funding value add transactions from $4,000,000 to $50,000,000 the Capital Provider offers flexible loan structures with terms up to 5 years. Floating rate pricing starts from LIBOR + 290. Lender has a particularly strong appetite for Multifamily product in secondary markets nationwide. Other property types they will finance are: Office, Retail, Industrial and Hospitality.

George Smith Partners is working with a regional portfolio lender providing construction financing with a mini-perm for all product types ranging up to $55,000,000. With the ability to advance 65% of development cost, pricing starts at 3.0% for three, five-or seven-year terms with a step-down prepayment. Loans will float after the initial fixed rate term rather than face a loan maturity.

GSP is working with a capital provider that will provide recourse fixed rate financing to 65% of value for land financing, 75% of value for construction and 90% of value on build to suits and preleased properties. Loan sizes range from $5,000,000 to $20,000,000 for transactions located in California, Arizona, Nevada, and Washington. Fixed rate pricing starts at 9% for terms up to 3 years for all CRE types including residential construction and entitled land.

George Smith Partners is working with a capital provider that will provide non-recourse floating rate financing to 75% of cost including small lot subdivision and predevelopment for multifamily use. Pricing starts at 7.5% for terms up to two years for Multifamily, Office, Industrial, Retail, Urban Infill Land and Mixed-Use projects. Loan sizes range from $1,000,000 to $15,000,000 for transactions located in California, Arizona, Texas, Oregon, Colorado, Idaho, Utah, Washington, Tennessee, North Carolina, Georgia, Pennsylvania, Massachusetts, Maryland, Virginia, Washington DC and Illinois. Origination fees are 2-3 points and there are no exit fees.