$8,000,000 Multifamily Acquisition to 75% of Purchase 

Transaction Description: George Smith Partners successfully placed the 75% of purchase for the acquisition of a three-property portfolio in Milwaukee suburbs. This purchase facilitated the tax deferment of a 1031 exchange. Although the seller was related for each asset, he/they were not identical and necessitated the need for three concurrent escrows. The new debt is collateralized as one loan to a single SPE Borrower. Indexes tumbled just prior to rate-lock. GSP negotiated a ten-year rate 15 basis points below the applied for floor. Fixed for 10 years at 4.25%, the loan is interest only for the first two years before amortizing over a 30 year schedule.