Transaction Description:
George Smith Partners has successfully secured $54,500,000 in financing to support a horizontal development located in Winter Garden, Florida. The fully entitled 118-acre project will include 462 market-rate residential lots, featuring both townhomes and single-family homes. A forward sale agreement with a prominent public homebuilder provides a well-defined exit strategy for both the Sponsor and the lender.
The GSP team identified a lender with deep market knowledge and experience, which helped foster a long-term relationship. By the time of closing, the borrower had invested significant cash equity into the project throughout the process.
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