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George Smith Partners is working with a national investment bank that has recently launched a five year mini-perm program geared towards performing assets with a potential upside. Core assets (no hospitality) must be economically stabilized and underwritten to standard permanent debt guidelines. Coupons in the mid-4% range are fixed for five years with no prepayment penalty after the 12th month. Amortization will be set for 25 or 30 years. All transactions are held on-book and are non-recourse other than standard carve-outs.