George Smith Partners is placing non-recourse reposition transactions with a national debt fund priced from 4.0% to 5.0%. Some cash flow is required at close unless significantly pre-leased. An interest reserve may be funded for sub-1.0 coverage at the time of funding. Loans from $10,000,000 to $60,000,000 are advanced to 80% of stabilized value for up to five year terms. Primary and secondary markets are sought for core products, fractured condos and hospitality.
