Transaction Overview
George Smith Partners successfully placed $7,650,000 of non-recourse pre-development debt for a luxury 228-Unit Multifamily Community in Santa Ana, California. Located at the termination of the newly planned Guideway Light Rail Station, this location will offer direct access to downtown Los Angeles via light rail. Loan proceeds will allow the sponsor to complete construction drawing’s while locking in costs for vertical development. Sized to 70% of current appraised value, the 12 month term is fixed at 12%.
