George Smith Partners arranged bridge financing for a 50-acre retail development site on the West Coast requiring general plan amendment. The deal involved land acquisition and predevelopment capital for a grocery-anchored retail center in a prime retail corridor.
Key Features
Rate step-down upon securing entitlements
Two 6-month extension options
1% origination and exit fees
Loan Terms
Rate
Greater of 1M Term SOFR + 7.95% or 11.45% (3.50% floor)
