RE: Portfolio Refi Discussion
Team,
Following up on our call last week. Given the current rate environment, I think we can get you into a 5-year fixed at around 5.25% on the $42M facility, down from the current 5.75% floating. That's roughly $210K in annual interest savings.
I'll need updated rent rolls and trailing-12 NOI for each asset in the portfolio. Can you send those over by end of week?
Regards,
David Rothstein
Managing Director, CRE Lending
JPMorgan Chase
Agent Activity
Jamie Pulled trailing-12 NOI for all 6 assets. Total portfolio NOI: $23.69M. Rent rolls are current as of April 1.
Kai 50bps rate reduction on $42M = $210K/yr savings. Maturity isn't until 2028 so no urgency, but worth locking in if we expect rates to rise. Recommend proceeding.