$5,518,000 Acquisition Los Angeles Brick Multifamily

Transaction Description:  Shahin Yazdi successfully placed the 75% non-recourse acquisition for the purchase of two 40-unit, brick construction apartment buildings in the mid-Wilshire district of Los Angeles. The property was under-managed and lacked historical records. Cash flow that was furnished did not always foot. Title showed a commercial lease recorded that was not evidenced at the property. GSP was able to work with the selling broker to correctly document title and the correct operating cash flow prior to funding. The two 15 year-term loans are fixed for 3 years at 3.24% interest-only before floating over LIBOR, amortized over 27 years for the remaining 12 years.