Recent Financings
$2,000,000 Cash-Out Multifamily Refinance During Forbearance
5 – 9 – 12 Transaction Description: GSP refinanced a newly renovated West Hollywood apartment building as the asset obtained occupancy stabilization. Pricing is fixed for three-years at 4.24%, prior to floating at 315 basis-points over 6-month LIBOR. The Loan … Continue reading
$7,500,000 Reposition Refinance of a Salt Lake City Retail Center
5 – 9 – 12 Transaction Description: George Smith Partners successfully placed the $7,500,000 senior loan on a 54% occupied retail center in Salt Lake City, Utah. The owner has had to address long-standing challenges recapturing vacant anchor space. The … Continue reading
$17,250,000 Forward Commitment Financing for Big Box Retail Pad
5 - 2 – 12 Transaction Description: George Smith Partners arranged the 65% LTV financing a new big box single tenant credit retailer. The rate was locked for 130 days (over four months) in November 2011. GSP identified a life insurance company who locked the … Continue reading
$8,000,000 Cash-Out CMBS Financing for a Los Angeles Industrial Property
4 – 18 -12 Transaction Description: GSP arranged the non-recourse, cash-out loan on a 165,000 sq. ft. industrial property in Gardena, (Los Angeles) California. The property consists of seven separate adjacent concrete tilt up buildings constructed in the 1970’s, and … Continue reading
$10,000,000 Portfolio Refinance w/ARMs tied to LIBOR and CMT
4 – 25 – 12 Transaction Description: In a demonstration of organized chaos, GSP AVP Jason Gaffner successfully placed 5 separate multifamily loans on 5 unrelated multifamily assets for the same borrower. The portfolio consisted of 121 units located across … Continue reading
$5,250,000 Non-Recourse Regional Bank Cash-Out Refinance
4 – 25 – 12 Transaction Description: George Smith Partners placed the 15 year cash-out refinance of a 3-story garden-style office building in West Los Angeles. The loan amortizes over 25 years, is non-recourse, and carries a 4.75% coupon. The … Continue reading
$11,867,500 Refinance of a Southern California Single-Tenant Office Building
4 – 4 – 12 Transaction Description: George Smith Partners successfully placed the refinance of a single-tenant 100,000 s.f. office building fully occupied by a credit tenant. The tenant rolls within the loan term. The Lender mitigated the rollover risk with … Continue reading
$2,373,000 Loan Modification
4 – 4 – 12 Transaction Description: Gilda Rivera of George Smith Partners assisted with the modification of a $2,373,000 fixed-rate note for a mixed-use Dental Office/Retail property in Temecula, California. The 11,000 square foot Class B building was 77% occupied at … Continue reading
$1,045,000 75% LTC Loan for a Class-C Multi-Family Asset in Tertiary Market
3 – 28 – 12 Transaction Description: GSP arranged the 75% LTC acquisition loan from a regional bank for the purchase of a multi-family property in a tertiary Texas market. The loan is fixed for 5 Years and priced in … Continue reading
$5,775,000 Refinance of an Unanchored Retail Center in Santa Clarita, California
3 – 21 – 12 Transaction Description: George Smith Partners successfully placed the refinance of a 100% occupied, unanchored strip retail center in Santa Clarita. The property’s location outside of a core market presented a challenge, yet GSP was able … Continue reading