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FINfacts™ XXIV – No. 339 | October 12, 2022
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| Prime Rate |
 6.25% |
| 1 Month LIBOR |
 3.35% |
| 6 Month LIBOR |
4.45% |
| 5 Yr SOFR Swap |
 3.88%
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| 10 Yr SOFR Swap |
3.65%
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| 5 Yr US Treasury |
4.13%
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| 10 Yr US Treasury |
3.93%
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| 30 Yr US Treasury |
3.89% |
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Blended Rate: 7.45%, Fixed for 12 months
Term: 12 Months, Interest-Only
LTV: Sub 50%
Prepayment/Minimum Interest Due: None
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Transaction Description:
George Smith Partners arranged $11,500,000 in a quick-close refinance for a high-end luxury home in Los Angeles, California. GSP identified a non-bank Lender with a strong history of providing quick close bridge execution. The loan is fixed at 7.45%, interest-only, with no hold-back requirement for interest reserves or capital expenditures. The loan does not carry any prepayment penalties, does not require minimum interest due, nor did it require an appraisal inspection – just a walkthrough of the subject property. The loan retired a higher interest rate and lowered the Sponsor’s monthly payment. The financing closed in 12 days.
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If you have an inquiry regarding George Smith Partners’ commercial real estate financing, please contact your GSP representative or Jessica Mania, at (310) 867-2974 or jmania@gspartners.com
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Constellation Place
10250 Constellation Blvd., Ste. 2700
Los Angeles, CA 90067
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© 1999 - 2024 George Smith Partners, Inc. DRE # 00822654 FINfacts is an ePublication of George Smith Partners, Inc. For Promotional Purposes Only. All Rights Reserved.
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