Transaction Overview
GSP successfully placed the cash-out refinance of a boutique hotel in a tertiary Southern California market. The $11,750,000 loan on the boutique, lifestyle oriented hotel returned over $5,000,000 of equity to the owner for this seasonal operating hospitality asset. The proceeds were 70% of the appraised asset value. Underwritten to a 10% debt yield, the non-recourse five year term is fixed at 4.59% with one year of interest only and 30 year amortization thereafter.
