George Smith Partners arranged financing through dual lending sources (1st and 2nd Trust Deed) for unentitled land in the Koreatown neighborhood of Los Angeles designated for multifamily development. The structure maximized leverage at 85% of purchase price with a blended interest rate of 9.98%. The initial 12-month term includes a 6-month extension option. GSP demonstrated lender understanding of the market and demand for multifamily development in this location.
