8 – 1 – 12
GSP identified a Life Insurance Company funding true bridge-reposition assets down to a break-even cash flow at funding. The loan is fixed at close with up to two years interest only, priced from 5.0% to 7.0% depending upon the asset type & term. The remaining 5 to 8 years will amortize over 25 to 30 years. A secondary funding may be considered upon stabilization. Recourse may vary from full repayment to burning-off at stabilization. Properties are traditionally the primary four products plus hospitality with an emphasis on multifamily. No construction will be considered at this time. Loan requests will range from $15,000,000 to $50,000,000.