Oregon

George Smith Partners successfully placed the cash-out refinance of a multi-tenant industrial business park in Portland, Oregon. This non-recourse financing provided for a return of equity with no hold back to our Sponsor while allowing for an opportunity to earn a return on equity once the Borrower finalizes their business plan. At funding the property was 90% occupied in a 3% vacant market. Sized to 65% of current value and floating at LIBOR+4.75% (floored at 5.25%) interest only two years, there is no prepayment penalty or exit fee.