Transaction Overview
George Smith Partners arranged a refinance for three Southern California car washes. The Sponsor requested a five year fixed rate execution to mitigate interest rate risk and a ten-year term to mitigate maturity risk. George Smith Partners identified a lender comfortable with the location, strong historic cash flow and deep real estate experience. Fixed at 4.87% for 5 years, the loan offers a flexible 3-2-1 prepayment penalty. The loan did not carry a lender fee.
