Transaction Overview
George Smith Partners arranged $3,800,000 in permanent financing for the refinance of a stabilized 39-unit multifamily property in Los Angeles. The sponsor secured the rate in early summer 2022 during a period of rising interest rates. Multiple delays occurred but GSP successfully extended the rate lock repeatedly without penalty adjustments. The financing provided over $1,500,000 in cash-out proceeds. The 5-year minimum loan term features a flexible prepayment structure.
