-
Heavy Bridge Capital and Non-Recourse Ground-Up Construction Nationwide
September 20, 2017
GSP is originating debt with a balance sheet lender specializing in heavy bridge loans from $20,000,000 to $100,000,0000 to 65% LTV. Recent tombstones include vacant buildings and a fractured condo. Ground-up construction financing is also available on a non-recourse basis to 60% of cost. Pref-equity may be layered on to 75% of total capitalization. All structures are priced from LIBOR + 425 and 1 point. There is no exit fee for the three year term.
-
George Smith Partners Appoints Two New VPs; New Positions Bolster Firm’s Growth & Expansion
September 13, 2017
George Smith Partners has announced two new additions to its team, Allison Weiss as Vice President/Director of Platform Development and Dana Light as the Vice President of Research/Marketing. Both Weiss and Light will work to increase the velocity of the firm’s ongoing growth and expansion, according to Principals and Co-Managing Directors Jonathan Lee and Shahin Yazdi. In her newly created role, Weiss will be responsible for recruitment and hiring on a national basis. In her new position, Light will focus on researching responsible lenders and lending programs for George Smith Partners. This work will support the firm in upholding its exemplary reputation, which was established by George Smith when he founded the company 25 years ago.
-
High Leverage Non-Recourse Construction and Bridge Financing
June 14, 2017
GSP is originating non-recourse, construction, bridge and quick-close financing opportunities from $5,000,000 to $25,000,000 to 85% LTC and 75% LTV. Acquisition and pre-development, transitional use, and adaptive reuse will also be considered. Pricing starts at LIBOR plus 800 with current pay and accrual structures. Loans can close in as little as two weeks. All product types including entitled land in coastal or infill areas will be considered. The lender is active in major markets west of Denver, CO.
-
Treasuries “Stabilize”
December 7, 2016
Treasuries seemingly have found a new level with the 10 year yield hanging in the 2.40% range for the last few weeks. Economic data (construction spending, unemployment, productivity, factory orders) has been bullish, giving the Fed “clear sailing” for next week’s rate increase. Last week’s employment report headline of 4.6% was tempered by a low Market consensus is a 0.25% increase. The closely watched elements will be the accompanying statement, the “dot plot” and Fed Chair’s press conference for the pace of future increases in 2017/2018. stay tuned
-
“Changing the World Map”; Commentary from an Equity Markets Seminar
June 29, 2016
George Smith Partners joined equity investors in a seminar hosted by Neuberger Berman LLC as they discussed investing with an eye on global events. In summary; terrorist event risk is much lower in the United States than many other countries, including most of the European Union countries. Americans are encouraged to focus more on protection against cyber-attacks than all other threats. Brexit and further political uncertainty in the EU will continue to create volatility in European financial markets. International investors will now look to U.S. Treasuries and commercial real estate as a safe haven. Look for more liquidity and capital to flow into the Treasury and US real estate markets. Historically low cap rates in the U.S. will continue to remain low for a number of years as the EU finalizes, executes and digests Britain’s historic vote to vacate the EU.