Mortgage brokers
George Smith Partners
George Smith Partners is a commercial real estate capital advisory firm that structures and places debt and equity for sponsors and capital partners. It is an advisor rather than a lender: it advises on approach, coordinates execution from early planning through closing, and says it will tell a client to wait, restructure or reconsider when that is the right move.
The practice covers bridge loans for transitional assets, construction financing for ground-up development and major renovation, permanent financing for stabilized assets, mezzanine debt and preferred equity, joint venture equity for development and recapitalization, and recapitalizations and loan workouts including modifications, maturity extensions and lender negotiations. Capital sources are life insurance companies, Fannie Mae and Freddie Mac, CMBS conduits, banks, credit unions and debt funds. Property types financed include multifamily, industrial, office, retail and hospitality. Construction assignments are described as ranging from $10 million to over $500 million; bridge loans placed typically run 12 to 36 months and, the firm says, can close in as little as 14 days.
The firm has been capitalizing commercial real estate since its inception in 1992, and works from 1900 Avenue of the Stars, Suite 250, Los Angeles, and 650 Fifth Avenue, Suite 1100, New York. It is affiliated with AXCS Capital and AXCS Investments, publishes daily benchmark rates covering Prime, the 30-day SOFR average and Treasury yields, and offers Propvetter, a tool that analyzes T12 financials, rent rolls and lease abstracts.
The site publishes no advisory fee schedule and no minimum transaction size outside the construction range quoted above. Rate data on the site carries a disclaimer that the firm does not guarantee its accuracy. Contact is (310) 557-8336.
Best for
Sponsors and developers who need an advisor to structure and place bridge, construction, permanent, mezzanine or joint venture equity capital on a specific project; the construction practice quotes $10 million to over $500 million. It does not lend its own money.
What they do
- Bridge loans for transitional assets
- Construction and ground-up development financing
- Permanent financing through life companies, agencies, banks and CMBS
- Mezzanine debt and preferred equity
- Joint venture equity placement
- Recapitalizations and loan workouts
- Loan modification and maturity extension negotiation
- Daily benchmark rate reporting
- Propvetter document analysis tool
Details
| Attribute | Value |
|---|---|
| Founded | 1992 |
| Other offices | New York, NY |
What stands out
- Has been capitalizing commercial real estate since its inception in 1992, from offices in Los Angeles and New York.
- Arranges construction financing for projects ranging from $10 million to over $500 million.
- Bridge loans placed typically run 12 to 36 months, and the firm says they can close in as little as 14 days.
- Publishes daily benchmark rates — Prime, 30-day SOFR average and Treasury yields — with a no-guarantee disclaimer.
- Affiliated with AXCS Capital and AXCS Investments.
Common questions
- What is a commercial bridge loan?
- Short-term financing, typically 12 to 36 months, for properties in transition that do not yet qualify for permanent financing because of vacancy, renovation needs, lease rollover or other factors affecting current cash flow. It bridges the gap between a property's current condition and its stabilized value, giving the owner capital to execute a business plan before refinancing into long-term debt.
- What is construction financing?
- Capital to build a new commercial project from the ground up or to undertake a major renovation or repositioning. Unlike permanent loans secured by stabilized cash flow, construction loans are underwritten on the sponsor's track record, the project budget and timeline, and the projected value and income on completion. George Smith Partners places these with national and regional banks, debt funds, life companies and alternative capital sources.
- What is permanent financing?
- Long-term debt secured by a stabilized property, typically with terms of 5 to 30 years, underwritten primarily on current cash flow. Life insurance companies offer the most competitive rates on high-quality low-leverage assets at roughly 55-65% LTV with non-recourse execution; Fannie Mae and Freddie Mac lend on multifamily up to 80% LTV with interest-only periods available; CMBS conduits offer higher leverage across property types on 5-10 year fixed terms.