$23,000,000 Bridge Loan for a 130,000 SF Self-Storage, Retail Facility in Orlando, Florida

Transaction Description: 

George Smith Partners successfully arranged a non-recourse, bridge loan of $23,000,000 for the lease-up of a four-story self-storage facility with 969 units over 8,000 SF of ground floor retail located in the Lake Nona Submarket of Orlando, Florida. GSP, through their expertise in bridge financing and strong relationships with a wide range of lenders, was able to negotiate favorable terms for its clients within a condensed timeframe to pay off its construction loan before maturity. The 4-year bridge loan was priced at a fixed rate over the 4-year interpolated UST +4.5%.

Building upon the developer’s seasoned experience creating market driven apartment and mix-use communities, the GSP team efficiently packaged, marketed, and executed its client’s 77% LTC bridge financing request in under 2 months.