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Why Owners Should Pay More Attention to Their Debt

There could be big opportunities to save money by refinancing early, even if you have to pay a prepayment penalty.

Gary Tenzer Gary Tenzer

After securing debt on a property, many owners make their payments and don’t think about the debt until the loan is near term. However, there could be creative options for owners—even if that means paying a defeasance. Gary Tenzer, co-founder and principal of George Smith Partners, has recently completed two creative financing packages on behalf of his client G.H. Palmer that helped save significant funds by lowering the interest rate significantly. Tenzer says that these loans are provide a good incentive for borrowers to pay more attention to their debt and work with their capital markets brokers to find opportunities.

“Unless an owner has a loan coming due, I don’t think that owners are thinking about their debt,” Tenzer tells GlobeSt.com. “I think that it is something that we have to remind them to focus on. It is something that they put away in a file, and don’t think about. They borrow money on a property and make their mortgage payments. For most people, this isn’t something they think about until the loan is coming due.”

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Kelsi Maree Borland

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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