$9,000,000

Transaction Description:  

George Smith Partners successfully structured a $9,000,000 balance sheet bridge loan to finance the acquisition and repositioning of a 42-unit, two-property multifamily portfolio in a coastal submarket of Southern California. 

The loan features an initial three-year term, with two six-month extension options. It is structured at 70% loan-to-cost and 65% loan-to-stabilized value, with a future funding component for planned property upgrades. There is no interest charged on undrawn funds, providing the Sponsor with full flexibility to execute their business plan while minimizing friction costs. The loan is interest-only during the initial three-year term.