$1,350,000 Cash-Out Refinance of a Mixed Use SoCal Asset

  • Rate: 3.75% Fixed for Five Years
  • Term: 10 Years
  • Amort: 25 Years
  • Prepayment: None
  • Recourse
  • Lender Fee: 1/2 Point

GSP placed the cash-out refinance of a restaurant anchored office building in Southern California. Additional loan proceeds were used to consolidate non-related, higher priced debt. The 10 year term is fixed for the first five years at 3.75%, amortized over 25 years. The rate will adjust to then market and will be fixed for the second five-year term subject to a rate cap of 6.75%. Third party due-diligence costs were limited to $8,500. This portfolio lender does not charge a pre-payment penalty.

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