Non-Recourse Multifamily Perm Loan, Fixed at 6.22%, Full Term Interest Only

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%

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