- Rate: 9%
- Term: 12 months
- Amortization: Interest Only
- LTC: 95%
- Prepayment: None
George Smith Partners arranged the 95% of total cost, ground-up construction loan to redevelop an existing multi-tenant retail center in Sacramento. This financing will be used to demolish and redevelop the majority of the existing center with two new national restaurants in addition to the one that is already in place. New leases were fully executed at close and the existing tenant will continue to operate during the reposition phase. Prior to loan funding, this parcel was sub-divided into three lots allowing for flexible exit strategies. Sized to 95% of total costs including land, soft and hard costs, the loan has pre-negotiated release prices and allows for extension options if needed.
- Rate: 9%
- Term: 12 months
- Amortization: Interest Only
- LTC: 95%
- Prepayment: None