George Smith Partners arranged acquisition financing for a self-storage facility in Los Angeles County, California in a high-growth suburban market. The lender appreciated the sponsor's proven track record and recognized strong market fundamentals despite challenging capital conditions.
Key Features
$10,000 origination fee
Loan Terms
Rate
5.40% (locked at floor rate)
Term
5 years
Loan-to-Value
40%
Amortization
Interest Only
Guaranty
Non-recourse with standard carve-outs
Prepayment
Yield maintenance with 1% minimum; open at par 3 months prior to maturity
