-
Preferred Equity for Build-to-Rent Projects up to $40,000,000
February 8, 2023
George Smith Partners is currently working with a capital partner focused on Build-to-Rent (BTR) projects. They are actively seeking to issue Preferred Equity on ground-up construction projects up to 85% LTC with check sizes ranging from as little as $5,000,000 to over $40,000,000 per transaction. Geographical focus on primary and secondary US growth markets and qualifying assets include all flavors of build-to-rent, single-family for rent, townhomes, cottages, duplexes, and other residential products. Please reach out to us if you would like to find out more.
-
Quick Close Value-Add Financing
February 1, 2023
George Smith Partners is working with a capital provider financing value-add transactions up to $100,000,000. With rates starting at 30-Day Term SOFR +5.00%, all asset types are eligible including development sites and infill land. With leverage up to 65%, this lender offers full-term interest only and non-recourse terms. Lending nationwide, they are able to close in as quickly as 2 weeks.
-
Balance Sheet Capital Provider with No Legacy Assets
January 25, 2023
George Smith Partners identified a balance sheet capital provider with no legacy assets focused on market dislocation opportunities. Providing non-recourse financing, transaction size ranges from $25,000,000 – $150,000,000 for reposition and construction requests. Favored assets include multifamily, hospitality, and industrial, but will look at all assets. leveraged to 70% of cost, rates priced from SOFR + 5.00%.
-
Quick Close, Special-Use Asset Bridge Financing
January 3, 2023
George Smith Partners is working with a capital provider financing first-lien bridge loans from $2,000,000 – $50,000,000. The program is non-recourse and covers all asset types including hospitality(Motel 6) and industrial. The lender is also active with special use assets such as marinas. With leverage up to 75%, rates start at SOFR + 5.50%. This lender can close in as quickly as 21 days and is active across 42 states.
-
Fixed Rate Financing starting at T + 2.00%
December 7, 2022
George Smith Partners is working with a capital provider offering fixed rate financing up to $75,000,000 with rates starting at T + 2.00%. Funding up to 70% LTV, they lend on all major asset types, both stabilized and near-stabilization. This program is full term interest only and the lender underwrites to the IO rate. 5 – 30 year terms are available with flexible prepayment options across all primary, secondary, and some tertiary markets. This capital provider also has bridge financing starting at SOFR + 2.75 and construction proceeds up to $750,000,000 starting at SOFR + 3.75.
-
Construction Financing Starting at 5.75%
November 30, 2022
George Smith Partners is working with a capital provider financing ground up construction with rates starting at 5.75%. With the ability to go up to $10,000,000 in proceeds, this Lender has non-recourse and interest only options with 2-, 3-, and 5-year terms. Lending in the Western states, with a focus on California, they have a strong appetite for multifamily, industrial and low-rise office.
-
Quick Close Land Financing Starting at 6.21%
November 9, 2022
George Smith Partners recently went into app with a capital provider financing land acquisition with pricing just over 6%. The balance sheet lender can provide financing on all major asset types, provided that the property is within its geographic footprint of NV, UT, OR, and ID. Financing up to $15,000,000 with no prepayment penalties, loans can close in less than 30 days. Interest only options are available.
-
Low Rate Perm Multifamily Financing With Flexible Prepay
November 3, 2022
George Smith Partners is working with a capital provider with a clean balance sheet providing permanent fixed-rate debt financing up to $10,000,000. With multifamily rates starting at 5.60%, this portfolio lender offers loan terms from 3 to 10 years with step-down prepayment options. For 3 year loans, the lender’s prepayment penalty is open after 2 years. Financing only in California, this capital provider can go up to 75% of value on multifamily, self storage, warehouse, industrial, office, and retail (anchored and unanchored).
-
Forward Purchase with 95% LTC Financing
October 19, 2022
George Smith Partners is working closely with a capital provider who is actively seeking to grow their build-for-rent portfolio. The capital provider creates an agreement with the developer by entering into a fixed-price purchase contract at any point of the development and funding up to 95% of the total project cost. The interest is 100% accrued until they start purchasing finished homes at certificate of occupancy. They can also purchase all units at final certificate of occupancy. This capital provider has a footprint across the nation.
-
Fixed Rate Senior Bridge Financing Starting at UST + 3.00%
October 5, 2022
GSP has identified a nationwide capital provider of fixed-rate senior bridge loans with a 2-year term. The program is intended for properties that are leasing up but need some additional runway before a perm loan can be put in place. Pricing starts at 2 Year UST + 3.00%, and the rate can be locked at application. Minimum interest is 12-15 months, after which the loan can be paid off without penalty. Since the loan is fixed, the borrower does not have to buy an expensive cap, which saves over 1% upfront in the current volatile interest rate environment.
-
Construction Financing Starting at SOFR + 300
September 28, 2022
George Smith Partners has identified a capital provider that specializes in financing the construction of build-for-sale (BFS) and build-for-rent (BFR), single-family residential properties. The lender can fund non-recourse construction debt up to 75% LTC. With floating rates starting at SOFR + 300, they can fund loans from $5,000,000 to over $100,000,000. This capital provider lends nationwide and has recently been very active in western markets.
-
Participating Construction & Value Add Programs up to 90% LTC
September 21, 2022
George Smith Partners is working with multiple capital providers offering high leverage participating loans for ground up construction and value add deals up to 90% LTC. Rates are 4.25%-6.5% fixed during the life of the loan with an IRR lookback to the lender and then lender receives between 15% and 50% of the profits from operations and the exit. Recourse with burn off and non-recourse options available. Most major cash flow-generating property types are considered.