George Smith Partners identified a non-agency portfolio lender advancing to 75% of appraised value for stabilized multifamily units nationwide. The non-recourse loans are held on-book and not securitized or sold in the secondary market. Transactions from $1,000,000 to $5,000,000 are priced over 3, 5, and 7 year treasuries. A ten year term is available with a five year rate reset. Flexible pre-payment penalties are structured with step-down for the first half of the term and open without penalty the second half of the term.
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