GSP

Transaction Description:

George Smith Partners arranged a $34,000,000 bridge loan for a newly constructed, “Class A,” Multi-Tenant Industrial Complex in Mesa, AZ. The purpose of the loan is to replace the maturing construction loan with a lower cost bridge financing and to provide an additional one-and-a-half-year runway to complete the Sponsors’ business plan. The 173,000 SF property is currently 66% leased.

The new bridge loan term of eighteen months provides the flexibility to either lease up and exit quickly with a six-month minimum interest requirement or play the field for an extended period.

Term: 18 Months with Two 6-Month Extensions
Prepayment: 6 Months Minimum Interest
Guaranty: Non-Recourse

Advisors

Scott Meredith

Managing Director & Principal

Grant Pugatch

Related Financings

Financing Placeholder

$3,615,000 Permanent Loan for a 25-Unit Stabilized Apartment Complex in Southern California

Joint Venture Equity Partnership for Acquisition/Reposition of a 215-Unit Multifamily Property in a Southwestern State

Construction Loan for the Redevelopment of an 8-Unit/26 Bedroom Student Housing Community in Los Angeles, California

Acquisition Bridge Loan for a Newly Constructed 10-Unit Multifamily Property in Florida

Financing Placeholder

$23,500,000 Construction Financing for a 136,000 SF Industrial Park in a Southwestern State

Cash Neutral Refinance for Multifamily Property; Los Angeles, CA

Acquisition Financing for a 10-Acre Entitled Multifamily Site; Western State

$4,150,000 Acquisition Financing for Multi-Tenant Retail Center; Charlotte, SC

Bridge Financing for Cash-Out Refinance of a Special Purpose Property; Los Angeles, CA

Financing Placeholder

Land Financing for Entitled Land; Los Angeles, CA

Financing Placeholder

$38,500,000 Cash-Out Refinance of 98% Leased Grocery-Anchored Retail Center; Utah

Financing Placeholder

Unentitled Land Financing for Infill Multifamily Development; Los Angeles, CA