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$32,000,000 Non-Recourse Bridge/Acquisition at 3.0%

Rate: L+2.55%
Term: 5 years + One, 2-Year Extension
Amortization: 2 Years Interest Only
LTC: 60%
Prepayment: None
Lender Fee: 0.75%

George Smith Partners successfully structured and placed the non-recourse acquisition bridge loan for a medical office building adjacent to a Los Angeles hospital. Our Sponsor will complete a significant capital improvement plan and increase rents upon lease roll-over. The 95% physical occupancy at close supports this business plan as there is significant market demand yet very little supply. Sized to a 9.0% in-place debt yield, additional advances will be funded to maintain the 9.0% debt yield as NOI is increased. Future disbursements will fund capital to complete upgrades as well as pay for tenant improvements and leasing commissions. Interest is only paid as funds are disbursed for the first two years of the five year term. Priced at LIBOR plus 255, there is no prepayment penalty.


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