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$42,000,000 Construction Loan for a 252-Unit Mixed-Use Multifamily Project in Downtown Salt Lake City, Utah

Terms: Confidential

Transaction Description:

George Smith Partners arranged a $42,000,000 senior construction loan for the ground-up development of a 252-unit mixed-use luxury apartment community in the Marmalade District of Downtown Salt Lake City, Utah. The mixed-use project will include ground floor retail and features Class A apartments with modern design.

GSP was able to identify several competitive lenders that recognized the Sponsor’s ability to execute large-scale multifamily projects, based on the successful delivery of a similar project they built in the MSA. GSP was able to leverage various lenders in order to help procure the most competitive terms available with a three-year term and two, one-year extension options.

Advisors

Related Financings

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    Transaction Description:

    George Smith Partners successfully placed $39,000,000 in construction debt and advised on $20,000,000 Limited Partner equity for the ground up construction of 137-unit mixed-use development with ground floor retail in Midtown Sacramento, CA. The Project is the second asset that GSP has structured both debt and equity for a sequence of planned multifamily developments. Pricing for the non-recourse construction loan tightened from the first transaction six months ago.

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  • $46,000,000 Construction Loan for Phase 1 of a 400-Unit Multifamily Development; Bozeman, MT

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    Transaction Description:

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    Transaction Description:

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    Transaction Description:

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    Transaction Description:

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