
December 2023
Transaction Description:
George Smith Partners successfully arranged a $7,000,000 loan for infill industrial buildings in San Bernardino and an industrial vacant outdoor storage lot in Livermore. The Sponsor is a well-funded startup that was planning to develop the properties into commercial EV Charging locations. GSP identified a lender that was non-recourse and comfortable with the unique business plan. GSP solved major issues regarding potential environmental contamination and insurance.
- Rate: 11.95% Fixed
- LTV: 50%
- Term: 12 Months
- Origination Fee: 2.0%
- Exit Fee: None
- Guaranty: Non-Recourse