Non-recourse
Transaction Description: George Smith Partners successfully arranged $13,600,000 in debt and equity financing for the ground-up construction of a 34-unit luxury lifestyle apartment complex. This capitalization represents 97% of total cost for this fully entitled transit-oriented apartment development in a prime Southern California infill location. The non-recourse senior tranche is advanced to 60% of construction cost at traditionally priced bank debt with the balance of capital provided by the Sponsor and Joint Venture Partner. Additional terms and pricing are confidential.
Related Financings
- No related financings.