$90,715,000 

Transaction Description:  

George Smith Partners successfully arranged $90,715,000 in non-recourse financing for the acquisition of a 34-property, 881,483 square foot Walmart shadow-anchored retail portfolio spanning 15 states across the US. The portfolio was structured in two pools. The pools of assets were un-crossed.  

Loan proceeds were structured to facilitate both the acquisition and value-add program by the Sponsorship. The business plan focuses on selective re-leasing and mark-to-market rent growth, capitalizing on the strong underlying performance of the adjacent Walmart Supercenters that anchor each property. 

The loan structure features a non-recourse execution, full term interest only, select release provisions, and a future funding component for capital upgrades and future leasing and tenant improvement costs. There is no interest charged on un-drawn funds, further creating a favorable economic structure.