| 1 – 15 – 2014 |
| Transaction Description: GSP successfully placed the cash-out refinance collateralized by an encumbered parcel of land and a community center in Ventura, California. The community center is divided into several art studios and includes a designated space for classes and community gatherings. The land is zoned industrial and does offer positive cash flow with revenue generated from leases to several tenants that use the lot for equipment storage. Our Sponsor is a Family Trust where only one member owning 25% was willing to guarantee the loan. Most lenders require more than 50% of the ownership to sign on the loan. GSP overcame these issues by focusing on the property’s strong cash flow and low Loan to Value. The 5.0% coupon is fixed for 5 years before rolling to Prime plus .25%. Prepayment steps down from 4,3,2,1, open years 5, 6, and 7. |
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| Rate: 5.0% |
| Term: 7 Years |
| Amort: 25 Years |
| LTV: 55% |
| DCR: 1.30 |
| Prepayment: 4, 3, 2, 1, open |
| Lender Fee: 0.5% |
| Advisor: Shahin Yazdi |
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