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FINfacts™ XXIV – No. 364 | April 12, 2023
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| Prime Rate |
 8.00% |
| 1 Month LIBOR |
 4.94% |
| 6 Month LIBOR |
5.35% |
| 5 Yr SOFR Swap |
 3.30%
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| 10 Yr SOFR Swap |
3.14%
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| 5 Yr US Treasury |
3.51%
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| 10 Yr US Treasury |
3.42%
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| 30 Yr US Treasury |
3.64% |
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Rate: 7.75% Fixed
Term: 2 Years, One 12-month extension
Amortization: Interest-Only
Loan-to-Value: 70%
Prepayment: 12 Months Minimum Interest Period
Loan Fee: 1% Origination Fee, 0.50% Exit Fee
Guaranty: Non-Recourse
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Transaction Description:
George Smith Partners successfully placed a $14,500,000 bridge loan for the lease-up of a newly constructed 54-unit apartment building in Los Angeles, California. The bridge loan refinanced the construction loan at maturity and provided time to stabilize the Property. GSP sourced a Lender that was able to provide cash neutral financing and fix the interest rate for the duration of the loan term. The financing is open for prepayment at any point throughout the loan term with a minimum of 12 months interest paid.
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George Smith Partners has identified a capital provider with a non-recourse participating construction program funding up to 75% of cost for multifamily & industrial projects in major MSAs only.
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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 - 2023 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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