Transaction Overview
George Smith Partners arranged $11,590,000 financing for a four-property, 240 unit portfolio of Class C multifamily properties in Austin, Texas. The experienced Sponsor requested financing tailored to each property and transaction’s unique characteristics. GSP identified two lending partners with programs that would complement the business plan. The assignment ranged from refinance of stabilized assets with full cash out proceeds to acquisition financing of recently repositioned assets that lacked a stabilized historical cash flow. Loans were sized to 75% LTV and 1.25 DCR and are non-recourse to the Borrower. Rates ranged from 3.80% to 4.73% and up to 5 years of interest only payments.
