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George Smith Racks Up $1.73 Bil in 2001

LOS ANGELES-Last year recorded the best year in terms of volume and revenues for George Smith Partners, a real estate consulting services firm located here. GSP recorded $1.73 billion and 181 transactions with 64 capital sources.

By Peter Landau | Updated on January 16, 2002

LOS ANGELES-In spite of disruptions in the capitalmarkets, deals being harder to structure, lenders being more conservative, the softening in the economy that turned recessionary, the slowing of new construction and problems in certain product types and geographic areas, George Smith Partners was able to record $1.73 billion in transactions last year.

Some of the highlights include GSP’s average loan size jumped to $9.5 million and $243 million in Fannie Mae loans through its correspondent relationship with ARCS Commercial Mortgage. With the dramatic decline at the short end of the yield curve, GSP placed Jumbo Home loans for the first time in many years with a unique program for loans up to $2.5 million.

CMBS continues to be a “core product” where GSP are able to manage a competitive bid process. It placed conduit transactions with 13 different originators. With the maturing of this market, originators have developed different cultures, personalities and characteristics. GSP expect a favorable fixed rate environment for the foreseeable future with all-in mortgage rates continuing to cycle in the 7% range.

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