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$40,000,000 JV Equity and $82,000,000 Non-Recourse Bridge Loan for Creative Office Campus Development

Equity Terms: Details shall remain confidential.
Debt Terms: Details shall remain confidential.

George Smith Partners negotiated and arranged $40,000,000 in JV Equity Financing and facilitated an additional $82,000,000 in Non-Recourse Bridge Financing for the repositioning and conversion of two adjacent historic buildings in Downtown Los Angeles into Class-A Creative Office spaces. At the time of closing, there was little to no pre-leasing of the 250,000 square feet of future office space. The century-old buildings will undergo a metamorphosis highlighting aspects of the original construction while simultaneously infusing modern design elements. The properties are strategically located at the border of the Fashion District and the Historic Core. Both areas are experiencing a remarkable transformation with considerable real-estate investment across asset classes.

George Smith Partners is uniquely positioned to advise on transactions of this nature; transactions requiring a consistent advisory team providing an “Outsourced-CFO Desk”. One of the two buildings was already well into the rehabilitation process, thus requiring an equity recapitalization of existing partners, adding further complexity to the transaction. The George Smith Partners team worked hand in hand with the Sponsor and JV Equity Partner to negotiate and structure a JV Equity Financing agreement providing mutually favorable terms while capitalizing an aggressive business plan.

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