GSP has identified a nationwide capital provider of fixed-rate senior bridge loans with a 2-year term. The program is intended for properties that are leasing up but need some additional runway before a perm loan can be put in place. Pricing starts at 2 Year UST + 3.00%, and the rate can be locked at application. Minimum interest is 12-15 months, after which the loan can be paid off without penalty. Since the loan is fixed, the borrower does not have to buy an expensive cap, which saves over 1% upfront in the current volatile interest rate environment.