George Smith Partners is working with a national balance sheet lender funding non-recourse bridge debt up to 85% of value. Rates start at 3.15% for multifamily, healthcare, student housing and manufactured housing projects for 3-year terms plus extensions. The lender has an appetite for transactions starting at $10,000,000. In-place cash flow at funding is required as low as a 4.5% debt yield (net cash flow divided by the loan amount) assuming an “as stabilized” 7.75% debt yield upon exit.