GSP

March 2022

Transaction Description:

George Smith Partners successfully placed $6,800,000 in land financing for a 5-acre site to be developed into 42 single family detached homes in Los Angeles, CA. The Project had already received most entitlements for the infill, hilltop site located in an up-and-coming neighborhood. Furthermore, the Sponsor needed to pay off multiple loan balances and receive additional funding to complete engineering to receive a final map.
Backed by experienced Sponsorship with extremely well-located collateral, GSP sourced financing that funded at approval of tentative map with highly favorable leverage and a closing timeline of less than three weeks.

Term: 12 Months
LTV: 75% Loan to Cost
Guaranty: Non-Recourse

Related Financings

Financing Placeholder

$3,615,000 Permanent Loan for a 25-Unit Stabilized Apartment Complex in Southern California

Joint Venture Equity Partnership for Acquisition/Reposition of a 215-Unit Multifamily Property in a Southwestern State

Construction Loan for the Redevelopment of an 8-Unit/26 Bedroom Student Housing Community in Los Angeles, California

Acquisition Bridge Loan for a Newly Constructed 10-Unit Multifamily Property in Florida

Financing Placeholder

$23,500,000 Construction Financing for a 136,000 SF Industrial Park in a Southwestern State

Cash Neutral Refinance for Multifamily Property; Los Angeles, CA

Acquisition Financing for a 10-Acre Entitled Multifamily Site; Western State

$4,150,000 Acquisition Financing for Multi-Tenant Retail Center; Charlotte, SC

Bridge Financing for Cash-Out Refinance of a Special Purpose Property; Los Angeles, CA

Financing Placeholder

Land Financing for Entitled Land; Los Angeles, CA

Financing Placeholder

$38,500,000 Cash-Out Refinance of 98% Leased Grocery-Anchored Retail Center; Utah

Financing Placeholder

Unentitled Land Financing for Infill Multifamily Development; Los Angeles, CA