$30,000,000 Mixed Use Office & Multifamily Pre-Development Bridge Financing

  • Rate: Prime+ 0.25%
  • Term: Two Years + One Year Option
  • LTC: 42%

Transaction Description: George Smith Partners secured $30,000,000 for the recapitalization of a vacant 68k square foot office building and pre-development site entitled for future multifamily development. The two-year loan term allows for staged funding to cover tenant improvements, capex, and construction of a new parking garage. A release for the multifamily parcel was structured to allow for future construction debt. Priced at Prime plus 25 basis points, there is no interest rate floor.

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