George Smith Partners is working with a capital provider that will provide non-recourse floating rate financing to 75% of cost including small lot subdivision and predevelopment for multifamily use. Pricing starts at 7.5% for terms up to two years for Multifamily, Office, Industrial, Retail, Urban Infill Land and Mixed-Use projects. Loan sizes range from $1,000,000 to $15,000,000 for transactions located in California, Arizona, Texas, Oregon, Colorado, Idaho, Utah, Washington, Tennessee, North Carolina, Georgia, Pennsylvania, Massachusetts, Maryland, Virginia, Washington DC and Illinois. Origination fees are 2-3 points and there are no exit fees.
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