Transaction Overview
George Smith Partners successfully arranged the non-recourse, cash-out refinance of a multifamily building located in the Los Angeles MSA.
The loan is fixed for three years with three years of interest-only and a step-down prepayment to match the interest-only period. This gives VMG Properties immediate liquidity and the flexibility to sell into a normalizing market at maximum value. In addition, the loan was at par with no lender fee, which kept closing costs and fees to a minimum.
