Retail Acquisition Financing with Less Than 100% Collection Rate; Los Angeles, CA

  • Rate: 3.75%
  • Term: 7 years
  • Amortization: 25 years
  • LTV: 50%
  • Prepayment Penalty: None
  • Minimum Interest Payments: None
  • Guaranty: Full recourse
  • Banking Relationship/Deposits Required: None

Transaction Description:

George Smith Partners successfully arranged bridge acquisition financing for a 6-unit retail property in Los Angeles, California. The Subject Property took a major hit with rent collections during the Covid-19 pandemic and was operating below market conditions. GSP identified a capital provider who was able to offer an aggressive rate and terms, required no holdbacks of any sort, required no deposits to be held at their branch and provided an open prepayment penalty structure that allowed the Sponsor flexibility once the Subject Property is stabilized and seasoned.

  • Rate: 3.75%
  • Term: 7 years
  • Amortization: 25 years
  • LTV: 50%
  • Prepayment Penalty: None
  • Minimum Interest Payments: None
  • Guaranty: Full recourse
  • Banking Relationship/Deposits Required: None

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