Transaction Overview
George Smith Partners arranged a senior secured mortgage for a 15-unit Class A multifamily property in West Los Angeles, CA. Loan proceeds were used to retire the existing senior and mezzanine loans, both arranged by GSP in the prior year, resulting in a cash neutral execution for the client.
Amid ongoing capital markets headwinds and elevated Treasury yields, GSP pivoted strategy and advised the Sponsor through multiple execution options. Leveraging a long-standing relationship with the incumbent lender, GSP sourced a new loan from a separate capital program designated for new originations, reducing the coupon by 200 bps and avoiding a cash-in refinance, all while preserving the ability to prepay at par at any time should market conditions support a permanent financing solution.
