Rate: 4.90%, Fixed
Term: 10 years
Amortization: Three years Interest Only; 30-year amortization thereafter
LTV: 70%
Prepayment: Step-Down Prepayment
Guarantee: Non-Recourse
Lender Fee: None
GSP successfully placed $1,022,000 in non-recourse permanent debt to take out an existing recourse mini-permanent bank loan on a mixed-use multifamily and retail property located in the heart of St. Louis City, Missouri. The 70% leverage loan has a fixed coupon of 4.90% for the duration of the ten-year term. The financing provides significant cash-out to the Borrower and maximizes cash flow via three years of interest only payments prior to converting to 30-year amortization. GSP leveraged its lender relationships to achieve the most competitive loan terms for the Borrower which included structuring multiple pricing and loan-to-value exceptions.
Advisors
Related Financings
- No related financings.