Transaction Overview
George Smith Partners successfully arranged acquisition bridge financing for the purchase of a 3.66-acre land site in Southern California. The loan facilitated the purchase of the first phase of a broader multi-parcel land assemblage. The loan is structured as a bridge facility with a 15-month term, providing the Sponsor flexibility to advance entitlements and subsequently acquire an adjacent parcel before transitioning into a vertical construction loan.
With a hard PSA deadline requiring close within three weeks, GSP moved quickly to identify one of the few lenders in the market willing to offer high-leverage financing on unentitled land. The transaction was negotiated and closed within that compressed timeframe, highlighting the depths of our lender relationships.
