Hot Money

  • Multifamily Financing Starting at 3.60%

    Hot Money

    October 8, 2019

    George Smith Partners is working with a capital provider funding permanent debt to 75% LTV. With a strong appetite for Multifamily, Office, Industrial, Retail, Self-Storage and Mixed-Use properties the Lender offers rates starting at 3.60% for loans in 10 Western U.S. states for transactions up to $30,000,000. The Lender has non-recourse and interest-only options available along with aggressive underwriting down to a 1.15x DSCR.

  • Non-Recourse Fixed Rate Financing 100% LTV

    Hot Money

    October 2, 2019

    George Smith Partners is working with a nationwide, non-recourse capital provider financing single tenant investment grade deals up to $300,000,000. With the ability to fund up to 100% of value, the lender offers fixed rates between 3.25% – 3.45% based on the credit quality behind the lease, and terms up to 30 years for Federal, Municipal, Office, Distribution and Industrial properties. For a NNN lease the lender will advance down to a 1.0 debt service. Structures can include ground leases, construction to permanent and forward fundings

  • Non-Recourse Multifamily Bridge Financing to 80% LTC

    Hot Money

    September 25, 2019

    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.

  • Preferred Equity Financing Up to 90% LTV

    Hot Money

    September 18, 2019

    George Smith Partners is working with a capital provider for owners of all types of income producing, value add commercial real estate. Funding transactions from $2,000,000 to $20,000,000 the equity provider offers a 9% preferred return, plus profit participation of approximately 35%. With the ability to go up to 90% of the total capital stack and assuming 70% senior debt leverage, they can provide approximately 2/3rd of the equity on a senior basis, while the operating partner invests approximately 1/3rd of the equity on a fully subordinate basis.

  • Non-Recourse Bridge Financing in Secondary and Tertiary Markets

    Hot Money

    September 11, 2019

    George Smith Partners is placing non-recourse bridge debt through a national portfolio lender funding transactions from $5,000,000 to $75,000,000. 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 + 300. Lender has a strong appetite for manufactured housing, self-storage and hospitality along with four main asset types located in secondary and tertiary markets in addition to primary markets. Opportunities should be cash flowing day one (above 1.0x DSCR) and value-add in nature. Loans can be structured with no lockout and minimum interest of +18 months. Initial loan to cost can go up to 85%, as long as stabilized value and cash flow support 70% takeout level. Future fundings can be structured for capex and TILC costs.
    Lender also offers CMBS style loans on all asset types, primarily focused on Manufactured Housing, Self-Storage and Hospitality, loan sizes ranging from $2,000,000 to $25,000,000 with 5-10 year terms and 25-30 year amortization schedules. Typically capping max LTV at 70% for refinances, Lender has ability to structure mezzanine components (as small as $1,000,000) to get up to 80%-85% LTV. Senior Loans currently price in the 4.75% (10-yr loan) area with the Mezzanine components pricing in the 10% – 12% range depending on asset type and LTV of last dollar.

  • Ground-Up Construction & Multi-Family Renovation Financing up to 85% LTC

    Hot Money

    September 3, 2019

    George Smith Partners is working with a national capital provider funding ground-up construction and Multifamily renovation debt to 85% of cost. They offer flexible loan structures and terms up to 24 months for transactions from $500,000 to $10,000,000. The Lender has a strong appetite for Multifamily, Mixed-Use, Condos and Infill Subdivisions located in primary and secondary markets and they will fund foreign nationals. Pricing starts at 7.99% for Multifamily renovation loans and 8.49% for Ground-up construction loans.

  • Bridge-to-Perm Financing to a Ten-Year Term

    Hot Money

    August 28, 2019

    George Smith Partners has placed several heavy bridge/reposition transactions to 83% of total capitalization with sub-5% coupons. With the ability to extend the loan term up to ten years upon stabilization, debt service will be interest-only throughout the entire term. This national capital provider will fund all commercial property types across the United States. Debt Yield and DSCR restrictions are based on market location and analyzed on a deal by deal basis.

  • 5.90% Fixed Rate Non-Recourse Bridge Financing

    Hot Money

    August 21, 2019

    George Smith Partners is working with a non-recourse capital provider funding bridge loans from $10,000,000 to $50,000,000. With a focus in California, the portfolio lender will fund up to 60% of value with terms up to one year before extension options. Program highlights include no prepayment and interest only. Decision making is flat and seven-business day close is their normal execution.

  • Non-Recourse Bridge Financing at 4.99% Pay Rate

    Hot Money

    August 14, 2019

    George Smith Partners is working with a private bridge lender providing non-recourse short-term loans secured by first trust deeds on commercial and non-owner-occupied residential real estate in prime California markets. The loan product offers “Pay Rate Protection,” which reduces borrowers’ monthly payment to 4.99% per annum for the entire loan term and defers the remaining interest until loan pay-off without compounding interest. Leverage for Multifamily, Office, Retail, Industrial, Mixed-Use, Covered Land, and Non-Owner Occupied Residential up to 65% of As-Is value for transactions up to $10,000,000 with fixed interest rates between 7.99% and 8.99%. Transactions can be completed within two weeks and there are no prepayment penalties.

  • Preferred Equity Bridge Financing for Acquisition/Renovation and Construction; up to 85% LTC

    Hot Money

    August 7, 2019

    George Smith Partners is working with a nationwide lender and equity investor. Funding transactions from $2,000,000 – $20,000,000 for hospitality, industrial, office, retail, self-storage, single-tenant, assisted living and multifamily. The lender offers bridge financing starting at 8% with terms up to three years and 85% of cost. Value add, distressed and opportunistic opportunities are 90% of total equity for 12-60 months for a joint venture, preferred equity, mezzanine or GP co-invest structure.

  • National Portfolio Financing for Stabilized Assets with No Prepayment Penalties

    Hot Money

    July 31, 2019

    George Smith Partners is working with a national portfolio capital provider structured with no pre-payment penalty.  Transactions in primary and secondary markets from $2,000,000 to $15,000,000 fixed for 5+5 and seven year terms.  This recourse lender will advance to 75% of appraised value assuming a 1.25 DSCR on in-place cash flow for income properties and offers a 30 year amortization.  Most loans close within 60 days and there is no minimum interest or prepayment penalties.  Application fees and bank closing costs (excludes 3rd party charges) are waived on new opportunities for the next three months.

  • Permanent & Construction-to-Perm Financing for Spec or Pre-Leased Properties

    Hot Money

    July 24, 2019

    George Smith Partners is working with a national portfolio lender offering permanent and construction-to-perm loans for Industrial Warehouse product ranging from $10,000,000 to $65,000,000. With the ability to advance up to 75% for existing construction/permanent properties, pricing starts at 4% for existing assets and 5% for construction. Spec deals without preleasing are considered. The lender offers a flexible prepayment structure, with I/O during construction and lease up. Additional flexibility available on pricing on a case by case basis.

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