GSP successfully placed the cash-out refinance of three multifamily San Fernando Valley properties. The three property portfolio consisting of 45 units funded in two separate loans. The self-liquidating loans are fixed for 5 years at 4.28% before floating over LIBOR for the remainder of the 30 year term. A recent Sponsor foreclosure and pending lawsuit hampered the credit process although GSP was able to identify a capital provider willing to underwrite the Sponsor’s explanation.
