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$3,000,000 Non-Recourse Acquisition Loan for 20,000 SF Office/Retail Building; Sacramento, CA

Rate: 6.40%
Term: 18 months
LTC: 60%
Guaranty: Non-Recourse

Transaction Description:

George Smith Partners successfully arranged $3,000,000 in acquisition financing for a 20,000 SF office/retail single story building in Sacramento. The Seller will occupy the Property paying no rent but will cover the operating expenses until the client provides 90 days’ notice to vacate. Centrally located in Midtown Sacramento, the Sponsor purchased the property for its land value, as they will entitle and assemble adjacent properties to be developed into a new ground-up multifamily project. Requiring a three-week closing timeline over the holiday season, George Smith Partners successfully sourced financing within the tight schedule.

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