2-29-12
George Smith Partners has closed loans with a privately held corporation that funds fixed-rate and floating-rate commercial loans poised for CMBS execution. These transactions are held on the corporation’s balance sheet. Loans may be pooled for securitization or held on-book should instability return to the secondary markets. Stabilized fixed-rate transactions may be rate-locked at application with a two-point deposit and no margin call. There is no rate add-on for the 60 day rate-lock. Secondary market fluctuations will not sideline the transaction as there is no Material Adverse Change (MAC) clause in the application. Commercial transactions are sized to 75% LTV and a 1.25 DCR from $5,000,000. Select secondary markets and “story deals” will be considered for stronger borrowers.