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Gary Tenzer Gary Tenzer is co-founder and principal at George Smith Partners.

George Smith PartnersGary Tenzer has leveraged another creative financing strategy on behalf of his client G.H. Palmer. This time, Tenzer, a co-founder and principal at GSP, secured a $233.6 million cash-out refinance for two multifamily properties in Downtown Los Angeles, Medici and Orsini I. Palmer secured a 10-year fixed rate loan at a lower 4.02% interest rate, but paid a pre-payment penalty to secure the lower rate early. While typically paying a pre-payment penalty is not recommended, the savings from the lower interest rate offset the cost of the pre-payment penalty a breakeven timeframe of two years. We sat down with Tenzer for an exclusive interview to find out more about these deals, why they are beneficial and if other borrowers are looking at similar strategies.

GlobeSt.com: This is the second similar creative refinance deal that you have secured for G.H. Palmer. What are the benefits of this creative strategy?

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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