Non-Recourse Bridge and Perm; Small Balance Multifamily

GSP is working with a national capital provider funding both bridge and permanent multifamily assets from $1,000,000 to $5,000,000 on a non-recourse basis. Bridge transactions are underwritten to 80% of “as-is” value plus 100% of rehab to $5,000 per unit. Occupancy must be at 80% or better at close. Small balance fixed rate products start at 3.5% fixed for five years. Up to 20 year terms (fixed for a maximum of 10 years) are amortized over 30 years. No tax or insurance impounds at 65% LTV or less. Capital Expenses are underwritten but not reserved.