Transaction Overview
George Smith Partners placed the $3,000,000 acquisition debt of a multi-tenant mixed use property in Ventura, California. Although one of the Borrowers runs an operating company from this location, the firm utilizes less than 51% of the net rentable and therefore would not qualify for SBA financing. Ownership between the Borrower and the Operating Company also differs, necessitating the need for conventional financing. The Buyer/Sponsor was requesting maximum leverage, allowing him to keep a majority of his capital in his operations. The 15 year term is fixed at 4.20%, amortized over 20 years.
