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A true bridge lender looks to their exit valuation in determining loan proceeds. GSP has identified a national firm funding to 65% of “real lender value” upon stabilization. Loan requests from $10,000,000 to $100,000,000 are priced 6% to 8% with an option to layer on additional preferred equity behind their own senior if additional funds are required. In-place cash flow is not required at funding. Core assets, hospitality and condo conversions are considered on a non-recourse basis. DPOs will require a fresh equity contribution from the borrower