Multifamily

George Smith Partners placed the $4,043,000 acquisition financing for a single tenant, family owned business to expand operations with the purchase of a new San Fernando Valley facility. Corporate operations are centered on drying, cleaning and damage repair of residential and commercial properties impacted by water. Poor historical recording keeping was off-set by a strong business plan and consistently increased sales. The 90% of purchase price debt was fixed at 4.50%, amortized over 25 years. Funding was timed to meet the seller expectations of the 60 day escrow.