$10,000,000 Cash-Out Refinance on a Single Tenant Class A Utah Office Building

Rate: 4.4%
Term: 10 year fixed
Amortization: 25 years
LTV: 65%
Prepayment: No prepayment penalty
Guarantee: Recourse

George Smith Partners secured $10,000,000 for the cash-out refinance of a newly constructed Class A single-tenant office building located in Pleasant Grove, Utah. Our Sponsor required a cash-out refinance to pay-off a maturing construction loan for a non-investment grade privately owned tenant. With strong sponsorship and an experienced real estate investor, GSP identified a lender who was is comfortable with 65% loan to value. Fixed for ten years at 4.4%, the loan amortizes for the 25-year term and no prepayment penalty.

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