Transaction Overview
George Smith Partners successfully placed the refinance a 44,867 square foot single tenant Class-B Flex Office/Laboratory in Orange County recently NNN leased to a non-credit regional healthcare company. The Lease had been signed, but tenant improvements have yet to be fully completed; the tenant was only occupying ½ of the building at the time of funding. GSP structured a permanent loan program that allowed for the existing debt to be fully satisfied with a future funding after year 5 post tenant rent increase. Fixed at 4.0% for five years, the loan will float for the remaining five years of the term, amortized over 30 years.
