Transaction Overview
George Smith Partners successfully placed a $7,800,000 loan for the acquisition and repositioning of a student housing property serving a major Southern California university. George Smith Partners went to a variety of lenders and identified a non-recourse capital provider who believed in the deep value-add business plan, with 23% of loan proceeds funding CapEx.George Smith Partners structured the loan at 70% of total project cost. The funding covers the acquisition, CapEx, construction costs, and the interest reserve.
