George Smith Partners identified a regional portfolio lender funding long-term, fixed rate, non-recourse loans on multifamily assets from $5,000,000 to $15,000,000; sized to 70% loan to value. Loans with a 30 year term and 30 year amortization can be fixed for 7 years at 3.70% then floats for the remaining 23 year term. With no debt yield requirement and step-down prepayment options, this offers an attractive alternative to CMBS executions. Interest Only periods are offered on sub-65% leveraged assets. Class A & B assets in primary and secondary markets from San Diego to Seattle are considered.
