Don't Miss a Fact,
Sign Up for FINfacts!

FINfacts is a weekly newsletter highlighting recent financings and economic insights.

Subscribe Here

Hot Money

  • Opportunity Zone Equity for Multifamily Projects

    Hot Money

    June 30, 2021

    George Smith Partners identified a capital provider offering Opportunity Zone Equity for multifamily projects for top MSA’s. They are writing equity checks between $10 and $25 million per deal.

  • Conventional and SBA Hotel Financing

    Hot Money

    June 23, 2021

    George Smith Partners identified a hotel financier funding acquisition, refinance, and PIP/Renovation in the Western United States. Fixed rates are between 5.50% and 6.25% and floating rates start at Prime + 2% and up, for loan terms up to 7 years, and leverage up to 65% of value. Reserves are required for operating deficits and debt service where needed. SBA financing is available for properties located in California, Idaho, Utah, and Arizona for non-CBD locations for loan amounts up to $12.5 million (504) and $5 million (7a). Rates for the 5-year fixed (504) are 6.5% Floor and floating rates (7a) – P + 275. Leverage is up to 75% of value with 10, 20, or 25 year terms.

  • Non-Recourse Western States Portfolio Permanent Financing Starting at 3%

    Hot Money

    June 16, 2021

    George Smith Partners is placing non-recourse financing for permanent transactions up to $40,000,000 for properties in California and major metros in all western states. The Lender will finance stabilized income-producing projects for office, industrial, multifamily, industrial, retail, Manufactured Home Parks, and will consider some special purpose assets on a case-by-case basis. Rates start at 3% and can be locked at application. With terms up to ten years, loan sizing is 50% of value for multifamily and industrial and 40% of value for retail and office.

  • Zero Prepayment Permanent Debt

    Hot Money

    May 26, 2021

    George Smith Partners is actively placing five- and seven-year perm-debt with a California based portfolio lender financing up to $18,000,000 for office, industrial, multifamily, and retail properties. A 5+5+5 term structure is also available for a 15-year term with rate resets. The zero-prepayment penalty allows for total flexibility to take advantage of future capital appreciation, sale or further rate reductions. Rates range from 3.75% to 4.25% to a 1.20 DCR.

  • National Non-Recourse Multi-Family Bridge Financing Starting at 3.15%, 85% LTV

    Hot Money

    May 19, 2021

    George Smith Partners is working with a national balance sheet lender funding non-recourse bridge debt up to 85% of value. Rates start at 3.15% for multifamily, healthcare, student housing and manufactured housing projects for 3-year terms plus extensions. The lender has an appetite for transactions starting at $10,000,000. In-place cash flow at funding is required as low as a 4.5% debt yield (net cash flow divided by the loan amount) assuming an “as stabilized” 7.75% debt yield upon exit.

  • Non-Recourse Debt, Mezzanine and Preferred Equity; 85% of Cost

    Hot Money

    May 5, 2021

    George Smith Partners is currently working with a nationwide balance sheet lender specializing in senior and mezzanine loans and preferred equity across all property types. Non-Recourse loans range from $5,000,000 to $25,000,000, with terms between 2-5 years, 75% LTV and 85% LTC. With rates starting at 7%, the lender targets opportunities for value-add acquisitions, refinancings/recapitalizations, conversions, and renovations and note purchases and participations.

  • Non-Recourse, Interest Only, Bridge Financing

    Hot Money

    April 21, 2021

    George Smith Partners is working with a nationwide portfolio lender offering non-recourse, on-balance sheet, interest only bridge financing that focusses primarily on apartments, office, industrial, single tenant NNN, self-storage, manufactured housing communities and multiple property portfolios. Typical loan structures include two- or three-year initial terms with extensions up to 5 years, 60-70% as-is LTV (Higher Leverage available with Mezz), as-is debt yield of +-7%, flexible prepay structures and potentially property releases in year one with no spread maintenance penalty for up to 50% of loan. Lender will consider requests with future fundings/earnout or “good news” money and a minimum loan amount of $20,000,000. Pricing is LIBOR plus a credit spread in the L+200-250 range that depends on the asset and cash flow. The Lender holds and services the full commitment for the full term with no CLO or syndication risk.

  • Light Bridge Balance Sheet Non- Recourse Financing from L + 150-350 for all Asset Classes

    Hot Money

    April 14, 2021

    George Smith Partners is working with a national investment bank utilizing their balance sheet for both transitional and stabilized properties. While traditionally used for much larger transactions, they will consider requests from $15,000,000 for non-recourse fixed or floating rates on all property types. Pricing from L + 150-350 for light bridge with flexible prepayment structures. Terms are up to 11-years for all stabilized loans.

  • 5.0% Fixed Rate Prepayable at Any Time – 70% LTV – Construction Loan Takeout

    Hot Money

    April 7, 2021

    George Smith Partners is working with a non-recourse capital provider that is funding fixed & floating bridge loans starting at $10,000,000. With a focus in the top 150 MSA’s, the lender will fund up to 70% of value at a fixed rate of 5.0%, or up to 80% with floating rates at 6%+. Terms are 1-3 years. Program highlights include flexible prepayment and a short minimum interest period. The lender can provide capital for newly constructed multifamily properties that are still vacant.

  • Debt and Equity Financing

    Hot Money

    March 31, 2021

    George Smith Partners identified a capital provider offering debt and equity from $3,000,000 to $30,000,000 for industrial, commercial, retail, self-storage, and special purpose properties. Rates start at 6% and terms are 1-3 years for bridge loans and 10+ years for longer-term facilities. The capital provider is focused in California and Hawaii and can close between 45-60 days.

  • Construction and Bridge Financing 90% -100% LTC

    Hot Money

    March 17, 2021

    George Smith Partners is working with a nationwide capital provider funding high leverage construction and bridge financing for pre-leased build-to-suit projects, medical properties, and self-storage properties up to 90%-100% LTC for $1-$25 million. In addition, they provide small balance JV equity for development and value-add properties for all asset classes. Rates are between 8% – 12% and terms vary by product type.

  • Non-Recourse Bridge Financing Offering Full term IO on 85% LTV

    Hot Money

    March 10, 2021

    George Smith Partners is working with a capital provider funding bridge debt to 85% of value for interest only terms up to 10 years. Financing starts at $10,000,000 with rates starting in the low 3’s. The lender will finance all commercial property types across the United States with a national origination footprint and local presence in New York, Boca Raton, Charleston (SC) and San Francisco. They are also offering construction financing up to 80% of cost for multifamily properties. Debt Yield and DSCR restrictions are based on market location and analyzed on a deal by deal basis.