Rate: 3.03% Fixed
Term: 15 Years
Amortization: Full Term Interest-Only
LTV: 55%
Guaranty: Non-Recourse
Transaction Description:
George Smith Partners successfully arranged $18,880,000 in permanent financing for a 192-unit multifamily community. The loan is fixed for 15 years at 3.03% with interest-only payments for the entire term and significant cash-out proceeds. Despite the severe impacts of the COVID-19 pandemic throughout the spring and summer, the Property was able to remain above 95% occupancy with minimal declines in rent collections. GSP capitalized on the Property’s quality, market resiliency, strength of the Sponsor and low leverage to attract quality offers from several lenders.
Related Financings
- No related financings.
