$14,425,000

California

Closed March 2024

Transaction Overview

George Smith Partners secured bridge financing for a newly constructed residential condominium in California. The funding replaced the construction loan and provided a 12-month runway for unit sales.

Key Features

1% origination fee
Under 40-day closing
Below market fixed rate

Loan Terms

Rate

8.9% fixed

Term

12 months

Loan-to-Value

53%

Loan-to-Cost

57%

Guaranty

Non-recourse

Advisory Team

Matthew Kirisits

Director

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