April 18, 2018
G.H. Palmer, a Southern California-based commercial real estate developer, has obtained more than $233.6 million in cash-out refinancing for a multifamily portfolio. The properties, the Medici and Orsini I, are in downtown Los Angeles. Gary M. Tenzer, principal and co-founder of George Smith Partners, oversaw the refinancing on behalf of G.H. Palmer, arranging the loan as interest-only for its entire term. Click here to read the full story.
April 16, 2018
Alina Mardesich was mentioned in SoCal Real Estate in reference to the $18,032,000 non-recourse, floating-rate bridge debt on an 85%+ occupied portfolio of multi-tenant office properties located in Orange County. Click here to read the full story.
April 5, 2018
Gary Tenzer, Principal/Co-Founder of George Smith Partners gives his thoughts on if you should be a buyer or seller in the next 18 months and why. Click here to watch the video from Connect LA.
March 30, 2018
MidCap Financial Provides $17.9M Refinancing for Shopping Center in Sacramento
MidCap Financial has provided $17.9 million in refinancing for the repositioning and lease-up of Stockton Plaza, a grocery-anchored community shopping center in Sacramento. The borrower is Santa Monica, Calif.-based DPI Retail.
The borrower plans to renovate and repurpose the property, which Kmart formerly anchored. A regional grocery chain and national discount department store will be the new anchors at the renovated center. .
Read the full article here.
November 27, 2017
“Tourism, development and infrastructure activity are the driving factors behind the planned conversion of a 13-story office tower near Los Angeles World Airports into a dual-branded hotel. The office structure at 5959 Century Blvd. will be renovated into a 129-room Hyatt House and 272-room Hyatt Place Hotel for Hyatt Hotels Corp. of Chicago, according to investment banker George Smith Partners. The Century City-based firm arranged $50 million in construction financing for the conversion project on behalf of the owner, a limited liability entity named 5959 and an affiliate of West Los Angeles hotel financier and developer California Real Estate Regional Center…”
November 6, 2017
David Pascale Jr., Senior Vice President of George Smith Partners was asked, “How many Dodger games did you go to this year?”
“I attended eight games, including two World Series home games. As an avid fan, I have been going to games since 1969. My love of the team started when I was listening to Vin Scully on the radio and keeping score in a scorebook at home.”
November 6, 2017
A private investor has received $58 million in financing to acquire and reposition a workforce housing portfolio in the Norcross submarket of the Atlanta metro area. George Smith Partners Inc. secured the financing for the buyer of the two vintage buildings. The capital package consists of $45 million in non-recourse acquisition debt and $13 million in joint venture equity. The loan is interest-only during the initial four years of the term, followed by a 30-year amortization. Click here to read the full story.
October 31, 2017
Shahin Yazdi, Principal & Managing Director has been nominated by Real Estate Forum for, “Fifty under 40” 2017. Shahin is the youngest Principal and Managing Director in George Smith Partners’ 25-year history. In just 10 years with the firm, Yazdi has arranged more than $1 billion in financing for commercial real estate transactions throughout the United States. Click here to read the full article.
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