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$4,800,000 Recourse Bridge/Acquisition Financing for 50% Leased Shopping Center in Vista, California

Rate: LIBOR + 2.75%
Term: 12 months
Amortization: Interest Only
LTC: 63%
Prepayment: 0.50% exit fee

George Smith Partners successfully arranged acquisition financing for a 50% leased shopping center in a 95% occupied retail market in Vista, California. The secondary market location was mitigated with our Sponsor’s resume and turn-around experience. His personal repayment guarantee allowed for aggressive pricing in the low 3% range. Sized to 63% of purchase and priced at LIBOR plus 275, the one-year term may roll into a 5, 7 or 10 year fixed-rate loan with an earn-out once stabilized.

Advisors

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