Commercial Real Estate banking the way banking should be. George Smith Partners is working with several regional banks funding construction, bridge/reposition and permanent loans for cash flowing and non-cash flowing commercial real estate assets. Transactions are funded from $1,000,000 to $30,000,000 without the need for syndication. Sized to 75% of current or stabilized value, floating rate transactions are priced from 3.0% to 4.0% while fixed coupons are in the high 4’s to low 5’s based on asset type and quality. Warm body repayment guarantees are usually required for leverage over 60% LTV although partial, burn-off and guarantees limited to capitalized entities have been structured. Completion guarantees are consistently required for ground-up construction projects.
