Transaction Overview
GSP arranged the $2,400,000 cash-out refinance of a 8,700 square foot unanchored retail strip center to 65% of current value with a portfolio lender. The non-recourse debt is fixed for 10 years at 5.06%. Legal fees were capped at $15,000 and there were no TI or LC reserves required for this non-Wall Street execution as the borrower has a 35 year track record of near 100% occupancy.
