George Smith Partners identified an institutional capital provider advancing capital improvement funds to existing HOA associations on a non-recourse basis. The lender advances direct to the association without trust deed or UCC collateralization. Transactions from $50,000 to $5,000,000 are self-amortized over three to 15 years at a spread of 300 over corresponding treasuries. Funds may be used for upgrades or the addition of new common area amenities. Units must be 60% or more owner-occupied.
Don't Miss a Fact,
Sign Up for FINfacts!
FINfacts is a weekly newsletter highlighting recent financings and economic insights.
Subscribe Here
