Transaction Overview
George Smith Partners arraigned an 80% loan to purchase, non-recourse acquisition and bridge loan in 45 days from being introduced to the opportunity. Floating at 4.75% over LIBOR, the three year term offers two – 1 year extension options. With only 45 days to execute on the purchase option, our Sponsor requested a highly leverage execution with the added ability to future fund heavy renovation of the facility. Sized to 80% of the acquisition price, this capital provider will fund all future renovation costs. Full loan commitment was obtained within 30 days loan application.
