Hot Money

  • Non-Recourse Bridge Financing Up to 85% LTV

    Hot Money

    July 1, 2020

    George Smith Partners is placing non-recourse financing for debt sponsors nationwide for multifamily, self-storage and industrial properties. With transactions starting at $20,000,000 for fixed rate bridge w/sub 1.0 cash flow, pricing starts at L+375 with a LIBOR floor of 1.25% (min 5.0% coupon). With terms up to five years with flexible yield maintenance and up to 80% of cost the lender offers IO during the initial term then amortization on a 30-year schedule.

  • Equity Financing for In-Process Development Projects Impaired By COVID-19

    Hot Money

    June 24, 2020

    GSP identified an equity provider offering rescue capital for constrained borrowers with refinancing shortfalls and pending loan maturities in primary and select secondary markets nationwide. Starting at $10,000,000, they will consider property facing significant unexpected vacancy from failed tenants for specialty assets exposed to co-working operations as well as assets in markets with significant exposure to tourism and entertainment.

  • Non-Recourse Bridge Financing up to 80% LTC

    Hot Money

    June 17, 2020

    George Smith Partners has begun placing non-recourse bridge financing structures for multi-family, flagged hospitality and best in class retail. The lender is specifically focused on properties located in both major and secondary Western States MSA’s. Loans are up to 80% leverage with 2-3 year terms, interest only. Pricing is based on LIBOR and blends to the mid to high 5.00% range depending on asset type and last dollar.

  • Fixed Rate Non-Recourse SFR/Condo/Multifamily Portfolio Financing Starting at 5.15%

    Hot Money

    June 10, 2020

    George Smith Partners identified a national capital provider funding non-recourse, LIBOR-based fixed rate financing for the acquisition and refinance of stabilized residential rental properties. The lender will consider SFR, Townhomes, 2-4 Family, Condominium units and Multifamily properties. With financing starting at $1,000,000, rates starting at 5.15% and term options at 5 or 10-years balloon, the lender can close 30-45 days from an executed term sheet.

  • JV Equity From $1,000,000 for Multifamily Properties up to 90% LTC

    Hot Money

    May 27, 2020

    George Smith Partners identified a national joint venture equity provider seeking to invest in multifamily properties with strong current cash flows in partnership with strong sponsors. With the ability to go up to 90% of the total capital stack, the equity provider will fund equity contributions from $1,000,000 to $20,000,000 inclusive of secondary and tertiary locations. The Sponsor will receive a promote structure based on each transaction’s merits.

  • Non-Recourse Bridge Financing for All Asset Types 70% LTC

    Hot Money

    May 20, 2020

    George Smith Partners is currently placing non-recourse bridge financing up to $20,000,000 for all major property types nationwide. This balance sheet lender offers up to 70% LTC for loans with terms 3+1 each extension option at 0.5%. Pricing is L+450-550 on a 0.5% floor with 0% in and 1% to 1.5% exit fee. They can close in 30 days from application.

  • Fixed and Floating Rate Financing Rates Starting at 4%

    Hot Money

    May 13, 2020

    George Smith Partners is working with a capital provider that will provide fixed and floating rate financing with 70% of cost for multi-family, 65% for all other commercial and 75% for construction. With a focus on Southern California, Las Vegas Washington, Texas, Chicago and New York the portfolio lender offers terms up to 10 years, loan sizes go up to $50,000,000 and pricing starts at 4%. Program highlights include step down prepayment for Bridge, Permanent and Construction financing.

  • National Balance Sheet Lender Re-Emerging the Debt Market

    Hot Money

    May 6, 2020

    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.

  • Reserve Capital

    Hot Money

    March 18, 2020

    Given the instability of the credit markets at this time while the “spigots” are on, rates and proceeds continue in a state of flux. To address certainty of execution “as applied for”, several debt funds, family office and private high-net-worth individuals have stepped in with their balance sheet and have the availability to fund and record within five business days. Rates vary depending on leverage, asset type and location. Pricing can range from 5.9% to 12.5+% for a 12 month term. Prepayment penalties are often limited and in some zero, to allow for recapitalization once stability returns to the institutional market.

  • Senior Bridge, Construction and Mezzanine/Preferred Equity Up to 90% LTV

    Hot Money

    March 11, 2020

    George Smith Partners is working with a national lender offering senior bridge, construction, and mezzanine/preferred equity programs ranging from $10,000,000 to $150,000,000 for all property types across the country. Pricing starts at L+250 for senior bridge loans and L+500 for mezzanine and preferred equity investments, with terms up to five years. On select stretch senior offerings, they can offer the borrower the option to convert a higher leverage, 60-85% LTC piece to preferred equity with up to eight years of duration.

  • Non-Recourse Land Financing

    Hot Money

    March 4, 2020

    George Smith Partners is working with a national lender providing non-recourse financing for properties in all phases of value creation from land through fully performing assets. Funding transactions from $20,000,000 to $75,000,000 this lender focuses on the top 25 markets in the U.S. With the ability to advance up to 85% of development value, pricing starts at L+550 – L+800 with terms up to three years and extension options available.

  • Preferred Equity & Mezzanine Financing up to 90% LTV

    Hot Money

    February 26, 2020

    George Smith Partners is working with a nationwide capital provider for borrowers and sponsors seeking preferred equity and mezzanine financing to implement their business plans, including lease-ups, recapitalizations, construction completion on partially completed projects, basic and complex value-add strategies, transitional repositioning and stabilizing asset operations. Funding transactions from $3,000,000 to $25,000,000 this lender can structure behind Agency, CMBS and bank loans. With a focus on multifamily they can go up to 90% and can close in 40 days without an appraisal.

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