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GSP is originating mini-perm transactions nationally for stabilized assets on a non-recourse basis. Story deals are welcome subject to going-in debt yields north of 8.7%. Credit issues are reviewed and approved prior to application. The five-year term is fixed in the high 4%/low 5% range for core assets up to $10,000,000. LTVs top out at 75% for commercial and 80% for multifamily. No TI/LC reserves are taken at close of escrow. Prepayment may be in the form of yield maintenance or a step-down.
