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Today’s capital markets are providing ample funds for larger transitional assets. George Smith Partners has identified a national bridge debt provider who will fund down to $5,000,000 of capitalization and to 80% of cost on a non-recourse basis. This capital provider will consider below break-even assets or properties that are currently vacant with no in-place cash flow. Rehab construction funds will also be provided with a completion guarantee. Pricing will range from LIBOR 4.75 to 6.50 plus 1 point origination for up to a three year term before extensions. Products include the four core assets plus hospitality.
