Transaction Overview
George Smith Partners successfully arranged $12,700,000 in permanent financing for the refinance of a multifamily community located in Scottsdale, AZ. The property provides an "SFR experience" for residents: just under 100 units comprised of about 40 single story casita style buildings on a 5+ acre property, set amongst shaded walkways. The center of the property provides amenities: a swimming pool, private cabanas, BBQ area, laundry facilities, and a courtyard. GSP secured cash-out proceeds for the Sponsor and structured a rolling 3-year term with open prepayment at par at each maturity, allowing the client the flexibility to re-price, refinance, or retire the debt every three years without penalty.
