$34,000,000 Bridge Loan for Multi-Tenant Industrial Building Complex; South Western State

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

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