National Ground-Up Portfolio Construction Lending to 70% of Cost

Despite COVID concerns, George Smith Partners is actively placing multifamily financing for acquisition, refinancing and ground-up development to mini-perm requests with a national portfolio capital provider. This lender offers local decision making and all the advantages of a small bank type financing on a national level. Loan amounts are sized from $2,000,000, up to $15,000,000 to 70% of capitalization. Their construction program automatically rolls into a five-year mini perm upon Certificate of Occupancy. With only a 90-day interest prepayment penalty if refinanced at stabilization, this offers take-out security yet provides flexibility for future capital market conditions. The prepayment penalty is waived in the event of a sale.