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$10,385,000 SBA 504 Acquisition Financing for Single-Tenant Creative Office; 85% LTC; Glendale, CA

Bank 1st 
TD Rate: 4.978% Fixed for 10 Years
Term: 20 Years
Amortization: 25 Years
LTC: 50%

SBA 2nd
TD Term: 25 Years
Amortization: 25 Years
Combined LTC: 85%

Transaction Description:

George Smith Partners arranged a SBA 504 financing for a recently renovated single-tenant, creative office building in Glendale, CA. The Property will become the new headquarters for the Sponsor’s company. GSP leveraged its long-standing relationships with an institutional SBA lender and a leading Certified Development Company (CDC) to structure and close at 85% LTC. Though the appraisal value came in below the initial purchase price, GSP offered additional market analysis and local area expertise that helped the Sponsor negotiate a reduced price of nearly half a million dollars.


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