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$5,500,000 Cash-Out Multi-Tenant Industrial Business Park Non-Recourse Refinance

Rate: LIBOR+4.75% w/5.25% Floor
Term: 2 Years + Two 1-Year Extensions
Amortization: Interest Only for Two Years; 20 Years on Extension Options
LTV: 65%
Prepayment: Open Prepayment
Recourse: Non-Recourse
Lender Fee: 1.00%

Transaction Description: George Smith Partners successfully placed the cash-out refinance of a multi-tenant industrial business park in Portland, Oregon. This non-recourse financing provided for a return of equity with no hold back to our Sponsor while allowing for an opportunity to earn a return on equity once the Borrower finalizes their business plan. At funding the property was 90% occupied in a 3% vacant market. Sized to 65% of current value and floating at LIBOR+4.75% (floored at 5.25%) interest only two years, there is no prepayment penalty or exit fee.

Advisors

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