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$13,370,000 Cash-Out Permanent Financing For a Two-Tenant Research & Development Office Building in Salt Lake City, Utah

Rate: 4.625%
Term: 10 year fixed rate loan
Amortization: 25 years
LTV: 75%
Prepayment: No prepayment penalty
Guarantee: Recourse
Lender Fee: Par
Rate Lock: Free rate lock at signing of LOI for 90 days

George Smith Partners secured $13,370,000 in cash-out permanent refinancing for a Class A 108,958 SF two-tenant office building in Salt Lake City, Utah. The purpose of the cash-out refinance is to pay off a maturing loan. With strong sponsorship and an experienced real estate investor, GSP identified a lender who was able to get comfortable with 75% loan to value. The loan was funded prior to receiving SNDA, and there was no holdback or reserves. Fixed for 10 years at 4.625%, the loan amortizes over 25 years with no prepayment penalty.

Advisors

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