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$4,800,000 Permanent Acquisition Financing of Industrial Park; Pflugerville, TX

Rate: 3.68% Fixed for first five years
Term: 10 Years
Amortization: 30 Years
LTC: 48%
Guaranty: Recourse

Transaction Description:

George Smith Partners arranged $4,800,000 in financing for the acquisition of a six-building, fully occupied industrial park in Pflugerville, Texas. The Sponsor, a repeat client, was selling another property in which the existing financing had a prepayment penalty. GSP leveraged its strong relationship with the lender of the Property being sold to successfully negotiate a reduction of the prepayment penalty by providing this Lender the opportunity to finance the purchase of the industrial park. The Lender offered a permanent, recourse loan at 3.68% fixed for the first five years based on the original property’s existing loan from 2019. The new loan term is ten years with a 30-year amortization.

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