From Bisnow-
FINANCING George Smith Partners secured $33M in cash-out refinancing for a nine-property portfolio of rent-stabilized apartment buildings in West Hollywood and Koreatown on behalf of a local owner and developer. The financing was arranged by George Smith Partners principal Bryan Shaffer, along with his team, which included VP Jon Shapiro and assistant VP Max Lehrman. Bryan and his team secured two capital providers for loans at a five-year fixed rate of 3.15%. George Smith Partners secured the permanent financing at 75% of the portfolio’s appraised value and a 1.20 debt coverage ratio. ***
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Shaffer Team BLOG - Commercial Real Estate Loans - Debt and Equity Information
