FINfacts™ XXIV – No. 339 | October 12, 2022

MARKET RATES
Prime Rate 6.25%
1 Month LIBOR 3.35%
6 Month LIBOR 4.45%
5 Yr SOFR Swap 3.88%
10 Yr SOFR Swap 3.65%
5 Yr US Treasury 4.13%
10 Yr US Treasury 3.93%
30 Yr US Treasury 3.89%

RECENT TRANSACTIONS
$11,500,000 Refinance for Spec Single Family Home; Los Angeles, California

Blended Rate: 7.45%, Fixed for 12 months
Term: 12 Months, Interest-Only
LTV: Sub 50%
Prepayment/Minimum Interest Due: None

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.

Advisors

Reuven Risch
Director

Pascale's Portrait
PASCALE'S PERSPECTIVE
Check out Pascale’s Perspective on LinkedIn

David Pascale LinkedIn

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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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