Shahin Yazdi successfully placed the 75% loan to value refinance of an East Los Angeles apartment building. Our borrower purchased the asset less than 18 months ago and after cosmetic upgrades, increased rents and stabilized collections. GSP identified a capital provider that agreed to base the loan on today’s value rather than the cost basis from 18 months prior. There was a total return of cash equity to the Sponsor of his initial down payment and all capital expenses. The 10 year term offers a fixed rate for 5 years at 3.95% before floating at 2.25% over the 6 month LIBOR.
