Transaction Overview
George Smith Partners secured $11,258,000 for the refinance of a seven-property multifamily portfolio in Los Angeles, CA. The loans are non-recourse and fixed at 3.00% for 5 years with 3 years of interest-only payments. The Sponsor received a significant return of equity. The loans went into app about 5 months ago, prior to the recent increase in interest rates. Because of GSP’s strong relationship with the Lender, the Lender held the original 3.00% fixed rate.
