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Structure Non-Recourse Bank Debt

3 – 19 – 14

George Smith Partners is working with a non-retail bank funding larger floating rate loans for stabilized and transitional commercial assets. Loans from $30,000,000 to $100,000,000 are funded on-book to 65% LTV. Presented as a cross between a commercial bank and a debt fund, assets are traditionally B quality and require repositioning or loan structures at pricing below most debt funds. Interest reserves may be structured for below break-even cash flow. Three to seven year terms are priced at LIBOR plus 275 to 400 with flexible prepayment options. Stabilized hospitality in gateway cities is aggressively underwritten.