$15,700,000 Anchorage Multifamily Refinance at 3.52%

Transaction Description: George Smith Partners successfully arranged a $15,700,000 permanent loan for the refinance of a 150 unit multifamily rental property in Anchorage, Alaska. The Subject is an A-quality asset and had solid historical occupancy and strong cash flow. This financing introduced a valued client to a new insurance capital provider. Our Sponsor is a major apartment owner with strong relationships among a variety of institutional lenders including agencies, insurance companies and banks. The full coupon was locked shortly after application at no additional cost or spread premium. There are no reserves or impounds with this execution. Although the property had a significant military concentration it had essentially no impact on the underwriting or closing process. Sized to 60% of value, the non-recourse loan is fixed at 3.52% for 10 years, amortized over 15 years.