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$15,400,000 Note-On-Note Financing for a Class-A, Self-Storage Facility; Major Southwest Metro

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Transaction Description:

George Smith Partners successfully arranged $15,400,000 in note-on-note financing for a newly constructed Class-A, self-storage facility in a major Southwest metropolitan market. The financing was obtained for a prominent national debt fund and proved extremely accretive, due to an attractive advance rate and pricing. GSP leveraged its extensive lending network and was able to identify a premier note-on-note lender with an extensive book of business in both the note-on-note space and credit facility space. The note-on-note Lender understood the strength of the debt fund platform it was financing and the strong underlying loan. The financing has the potential to grow into a larger credit facility for the debt fund and A-Note lender over time.

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