Transaction Overview
George Smith Partners secured the $6,000,000 acquisition and renovation loan for a 17,000 square foot creative office building in the Koreatown district of Los Angeles. The pioneering aspect of the creative use project in this submarket added challenges to underwriting. GSP presented comparable projects outside the submarket that supported our clients goals and ultimately provided favorable non-hard money terms. Term sheet to funding was 16 days to accommodate the sales escrow.
