National Balance Sheet Lender Re-Emerging the Debt Market

Historically, GSP has funded multiple transactions with a bank CMBS originator who is now pre-loading their pipeline with balance sheet executions. Floating rate non-recourse loans are being funded today from $15,000,000 and higher for multifamily, self-storage, industrial and office projects. Sized to a 65% LTV, the two-year term will require monthly debt service from operations on an interest only basis priced at LIBOR plus 300 to 375. There will be no prepayment penalty or exit fee should the bank take themselves out with a CMBS permanent execution once the markets re-stabilize.

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