Transaction Overview
George Smith Partners successfully structured a $9,000,000 balance sheet bridge loan to finance the acquisition and repositioning of a 42-unit, two-property multifamily portfolio in a coastal submarket of Southern California. The loan features an initial three-year term, with two six-month extension options. It is structured at 70% loan-to-cost and 65% loan-to-stabilized value, with a future funding component for planned property upgrades. There is no interest charged on undrawn funds, providing the Sponsor with full flexibility to execute their business plan while minimizing friction costs.
