Transaction Overview
George Smith Partners successfully arranged the $17,000,000 refinance of a 182,400 SF multi-tenant industrial building located in Corona, California, fully leased to four tenants. The transaction refinanced an existing loan on the asset, allowing the Sponsor to lock in long-term, fixed-rate financing on a conservative basis. The loan gives the Sponsor a permanent non-recourse finance solution with a life insurance company.
Built in 2001 by the Sponsor, the property has retained strong occupancy, reflecting the quality of the asset and durable demand for well-located industrial product in the Inland Empire.
