- Rate: LIBOR+3.75% w/4.25% Floor
- Term: 3 Years + 2 One-Year Exts
- Amort: 2 Years IO/25 Years Thereafter
- Non-recourse
Transaction Description: GSP arranged $45,000,000 in first mortgage debt on a to-be-built retail center in suburban Colorado anchored by a movie theater, grocery store, and fitness center. The non-recourse loan does not require a repayment guarantee and all other guarantees are limited to a capitalized entity. The subject was 75% pre-leased upon closing; priced at 30 Day LIBOR plus 3.75% with a 4.25% floor. The three year initial term is Interest Only for the first two years before rolling to a 25 year amortization schedule for the third year and two one-year extensions. Leverage capitalization terms are confidential.