$3,300,000 Strip Retail Bridge Acquisition w/100% Good News Proceeds

  • Rate: 10.0%
  • Term: 12 Months
  • Amortization: Interest Only
  • LTC: 75% of Purchase, 100% of Total Capitalization w/Signed Lease
  • Recourse: Carve-Outs Only

Transaction Description: George Smith Partners placed the acquisition debt for an underperforming Sacramento strip retail center. Our Sponsor acquired the asset with two LOIs in hand with national credit tenants. His business plan contemplates a lot split, partial demolition and ground-up construction for a build-to-suit. Financing was completed in six days and provided 75% of acquisition cost. Upon signing of the new leases, the lender will rebate the cash down payment and fund 100% of future advances to construct and complete the project on a non-recourse basis.

Advisors

Scott Meredith

Managing Director & Principal

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