7 – 17 – 13
George Smith Partners is currently underwriting several reposition transactions with a capital source new to the national market. The non-recourse loans are priced from 6.5% to 8.0% based on the risk, from $1,000,000 to $10,000,000. Story transactions are welcomed as well as marginal credit history. Core assets are underwritten to a +8% debt yield on the exit. An interest reserve may be funded for loans under a breakeven coverage.
