Transaction Overview
Jason Gaffner successfully arranged the refinance of an owner-occupied office building in the San Fernando Valley. This transaction replaced a short-term, interest only, seller carry-back note provided when the asset was purchased 7 years ago. A favorable appraisal valuation as supported by a strong sub-market allowed for the loan to be sized to 75% of value. Fixed for 5 years at 3.68%, treasury yields decreased 34 basis points from application to funding with the Sponsor obtaining the full benefit of this movement.
