Regional Bank Funding Bridge/Construction Nationwide; Blemishes Welcome

GSP is working with a regional bank who recently expanded operations to fund reposition and ground-up construction on a national basis for California borrowers. Core assets plus hotels, tract housing, estate homes and marinas are underwritten to 65% of cost. Non-recourse will be considered for 50% of cost requests for construction, slightly higher LTCs for cash flowing assets. Coupons in the low 4% range are funded on transactions from $5,000,000 to $45,000,000 without the aid of syndication. Story borrowers with viable business plans and strong product/location will be considered.