George Smith Partners arranged refinancing for a 39-property workforce housing portfolio across Western States. The deal involved securing long-term capital from a life insurance company with programmatic flexibility. The sponsor has maintained a relationship with George Smith Partners for over 30 years.
Key Features
39 properties
Substantial equity returns approved
Combined appraisals permitted
Reserves waived
Loan Terms
Rate
6.25% fixed
Term
5 years with rate reset option every 5 years thereafter
