Transaction Overview
George Smith Partners successfully placed the $4,250,000 acquisition loan of a 50,000 square foot industrial building located in The San Fernando Valley. The purchaser will relocate his light manufacturing and distributing operations to this new location. The SBA 90% of cost offered a 1st and 2nd trust deed blended to 4.15%, fixed for 20 years. There is no rate-reset or balloon risk. The property condition inspection was less than favorable. GSP worked with the buyer, seller and lender to structure a capital improvement program acceptable to all parties.
