![](https://www.gspartners.com/wp-content/uploads/2024/03/finfacts-photo-Hudson-2.0.jpg)
Transaction Description:
George Smith Partners arranged $11,500,000 in a quick-close refinance for a high-end luxury home in Los Angeles, California. GSP identified a non-bank Lender with a strong history of providing quick close bridge execution. The loan is fixed at 7.45%, interest-only, with no hold-back requirement for interest reserves or capital expenditures. The loan does not carry any prepayment penalties, does not require minimum interest due, nor did it require an appraisal inspection – just a walkthrough of the subject property. The loan retired a higher interest rate and lowered the Sponsor’s monthly payment. The financing closed in 12 days.
- Blended Rate: 7.45%, Fixed for 12 months
- Term: 12 Months, Interest-Only
- LTV: Sub 50%
- Prepayment/Minimum Interest Due: None