$14,260,000 Acquisition Bridge Loan Hotel Project

Transaction Description: 

George Smith Partners arranged $14,260,000 in acquisition bridge financing for the purchase of a 118-key hotel in Davis, CA through a short sale process from the prior lender. The financing structure included a senior loan from a local bank and a government-backed mezzanine loan, collectively sized to 76% of the purchase price with a blended fixed interest rate is 8.2%. The loan has an initial term of two years with two one-year extension options. 

Despite challenging capital market conditions, GSP coordinated closely with both lenders to ensure the most cost-effective and structured execution, maximizing property-level cashflow and allowing the client ample runway to reposition and stabilize the asset.