$2,500,000 Acquisition/Bridge Financing for 90,000 sf Vacant Industrial Property

Transaction Description:  This 4 building property is well located adjacent to the Alameda Corridor in South Los Angeles. Our borrower owns other properties in the market and has demonstrated the ability to operate and lease warehouses. His business plan is to renovate this older property, divide into market appropriate tenant spaces and stabilize. The $2,500,000 purchase price required an additional $1,500,000 of renovation costs. Borrowing entity includes a foreign national equity partner. GSP arranged 62.5% of total project cost financing with a local lender who is comfortable with the borrower expertise and entity structure. This loan also provides for a mini-perm option upon stabilization.