Transaction Overview
GSP successfully arranged the rate & term refinance of a single tenant industrial building to 63% loan to value. The tenant has 2 years remaining on their lease although the borrower was looking to take advantage of today’s low rates and fix his coupon for 7 to 10 years. GSP secured a 7 year fixed term with 25 year amortization at 3.89%. The loan adjusts to a floating rate at then market conditions after the 7th year. There is no balloon.
