Gary Tenzer Gary Tenzer is managing director and principal at George Smith Partners.

Interest rates may be creeping up, but there are still opportunities for borrowers to save. G.H. Palmer recently secured a $266.8 million loan to refinance existing debt on a four-property 1,359-unit multifamily portfolio. The borrower secured the loan nearly two years before its debt expired, and although the early payoff required a defeasance fee, the firm was able to secure a better interest rate and save money over the life of the loan.