3 – 27 – 13
George Smith Partners identified a regional bank expanding their balance sheet to include ground-up construction requests in California and Texas to 75% of total cost. Multi-family, office, retail, industrial and flagged hospitality will be considered to $15,000,000 on-book. Co-participation will double their capacity. Non-multi product will require a significant amount of pre-leasing. The prime based pricing is floored at 5.25% and will carry the option of a mini-perm at stabilization for a 5 or 7 year fixed term and step-down pre-payment.