Transaction Overview
George Smith Partners successfully placed $12,400,000 in permanent debt on an 80% occupied 1960’s vintage Inland Empire multi-tenant retail property, anchored by a national off-price retailer. Due to the property’s age, tenancy, and other characteristics, GSP leveraged its industry knowledge to target CMBS lenders with strong B-Buyer relationships in order to gauge the secondary market’s response to the prior to conducting due diligence. This increased certainty of execution at the terms provided at application. The 75% leverage loan enabled the Sponsor to secure a partial return of equity and lock in a 4.25% ten-year coupon with a 30-year amortization schedule.
