Transaction Overview
George Smith Partners arranged $9,170,000 refinancing for a portfolio of four multifamily properties in Los Angeles. GSP identified a lender who was comfortable providing a $2,500,000 return of equity to the Sponsor, while executing a strategy for a portfolio refinance that allowed the capital provider to become more aggressive with both rate and proceeds. GSP was able to time the market and lock rate at the ideal moment, achieving the best possible pricing for our Sponsor. This recourse loan represents 75% of the portfolio’s value and has a 30-year term with the first 5 years fixed at 3.85% and resets every 5 years. This loan self-liquidates over the course of the 30-year term.
