
January 2025
Transaction Description:
George Smith Partners arranged a 3-year perm loan for the refinance of a stabilized multifamily property. The loan is fixed at a rate of 6.22% with full term Interest Only payments. The Sponsor needed to refinance to meet a loan maturity, but requested a short prepay in case interest rates decline. GSP was able to secure a stepdown prepay with no fee in the third year. The loan has no origination fee.
LTV: 60%
Rate: 6.22% Fixed
Term: 36 months fixed then floating at SOFR+2.50%
Guaranty: Non-Recourse
Prepayment: 3,1,0
Origination Fee: 0%
Advisors
