$16,250,000
Transaction Description:
George Smith Partners successfully arranged $16,250,000 in bridge financing for the acquisition of a 111-unit class-A multifamily property located in a prime urban infill Midwest market.
The financing request was part of a larger business plan involving the recapitalization and acquisition. Given the Sponsor’s goal to operate both assets as one community, GSP structured the loan with an initial 24-month interest-only term followed by an 84-month mini-perm. This structure provides the sponsor with flexibility through the acquisition, repositioning, and stabilization to align with the existing financing on the adjacent property.
Proceeds: $16,250,000
Leverage: 75% LTV.
Total Term: 108 Months (24 months IO & 84 Months 25-year amortization schedule)
Bridge Pricing: 6.75% All-In Rate (PRIME less 0.75%) for the first 24 months
Min-Perm Pricing: 7-Year Treasury + 2.50% on a 25-year amortization schedule thereafter.
Financing Team
Michael Anderson-Mitterling
Managing Director
Jordan Lipton
Senior Vice President
Nicholas Drohan
Senior Associate
Grant Pugatch
Senior Associate
