Transaction Description: George Smith Partners successfully structured the $40,000,000 Joint Venture Equity Financing for ground-up development of The Park, an ultra-luxurious condominium development in the Banker’s Hill section of San Diego. Located adjacent to the world famous Balboa Park – home to many of San Diego’s cultural elements & museums – the project is one of only a few new condominium projects to break ground in San Diego since the market downturn. Boasting large floor plates and 500 square foot terraces, the Subject is designed and intended for very discerning clientele. The project includes direct elevator access to most of the units with views of downtown, San Diego Bay and Balboa Park. Culminating over two years, a significant amount of time was invested with this Developer to create the strategies to complete the capitalization of the project. With this final piece of capital, the project is now fully capitalized and will be embarking on vertical construction. Terms are confidential.
