Transaction Description: George Smith Partners arranged $2,517,000 of Joint Venture equity for the acquisition of a Southern California Class A office building. The business plan calls for the 39,140 square foot office building to be repositioned and sold upon re-stabilization. This acquisition is part of the Sponsors’ expansion of their 16-property portfolio into the Southern California market. This asset presents an opportunity for significant upside, including major property upgrades and re-organizing top-tier tenants. Equity terms included a 95%/5% capital contribution with a 9% preferred return.
