Transaction Overview
GSP placed the $1,700,000 acquisition of Los Angeles based single-tenant user. The owner/operator needed this larger facility to expand his business. Although operations were improving, the sponsor does not show well on paper and falls short of the typically required net worth and liquidity covenants. GSP worked with the lender to confirm an increased in cash flow as well as documenting a pipeline of future orders. The comparative mortgage to prior rent ratio was also favorable. Closing occurred in less than 45 days, meeting the deadlines of the seller.
