GSP arranged supplemental financing on a 114 unit stabilized apartment building in Colorado Springs. The Sponsor acquired the undermanaged property mid- 2012 when GSP secured the 10 year fixed rate acquisition loan for the subject to 64% of capitalization. The Sponsor significantly improved NOI over the subsequent two years and justified a return of equity. This funding reduced the Sponsors’ initial cash capitalization to less than 10%. The non-recourse supplemental funding was sized to 65% of current value, fixed at 5.06% and is co-terminus with the existing 1st Trust Deed.
