Transaction Overview
George Smith Partners facilitated a $4,000,000 cash-out refinance for a multifamily portfolio across two Charleston properties. The sponsor, relatively new to the Charleston market and operating from a non-local base, had purchased both properties with cash in late 2022 and mid-2023. GSP sourced a local bank familiar with the properties that provided a fixed-rate loan at 70% LTV with flexibility to adjust the fixed rate to market conditions without incurring expenses.
