
May 2022
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.
- 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%