Bridge
$5,550,000 Acquisition Bridge Loan for Soon to Be 89% Vacant Shopping Center
5 – 1 – 13 Transaction Description: George Smith Partners successfully placed the 72% LTC bridge loan for the acquisition and reposition of a Los Angeles based grocery anchored shopping center. The interest-only coupon floats at 250 bps over LIBOR … Continue reading
10 Day Close on 40% Occupied Multifamily for $3,150,000
4 – 10 – 13 Transaction Description: GSP’s Bryan Shaffer successfully placed the acquisition debt of for a distressed 208 unit multifamily asset that is 40% occupied. The transaction from introduction to funding executed in 10 days. Challenge: The subject property … Continue reading
$110,000,000 in Debt Financing and Joint Venture Equity for the Acquisition of 1,127 Multifamily Units
3 – 27 – 13 GSP arranged $64,800,000 in first mortgage debt financing and $31,700,000 in joint venture equity (96.5% of the Sponsor’s total costs) on a 396-unit Class A- multifamily asset and a 379-unit Class B+ multifamily asset, both … Continue reading
$3,350,000 Garden Style office in Secondary Market
2 – 20 – 13 Transaction Description: George Smith Partners successfully replaced a hard money loan with institutional debt on an underperforming garden style office building in Southern California. The prior loan had ballooned although the Borrower had yet to … Continue reading
$20,500,000 Customized Multifamily Cash-Out Bridge/Reposition
1 – 30 – 13 Transaction Description: Bryan Shaffer of George Smith Partners successfully placed the $20,500,000 refinance of a San Diego California multifamily apartment community. The bridge loan included a return of equity of $7,000,000 to solve a … Continue reading
$5,500,000 Non-Recourse Bridge Acquisition Reposition Loan for Utah Apartments
12 – 19 -12 Transaction Description: GSP arranged acquisition debt financing for a 1980′s vintage, 96 unit under-managed apartment community in West Valley, Utah. The Southern California based Borrower requested $5,000,000 in immediate funding for the purchase and an additional … Continue reading
$6,000,000 Bridge Loan to repay Chapter 11 Creditors
12 – 12 – 12 Transaction Description: GSP arranged the bridge financing of a stalled residential condominium project along the a Pacific Northwest waterfront. The project consisted of a 204- Slip Marina and entitlements for 208 to-be-built condominium units. The … Continue reading
GSP Closes $3,075,000 Interest Only Purchase Money Bridge Loan on a Baldwin Hills 52-Unit Apartment Portfolio
9 – 27 – 12 Transaction Description: George Smith Partners placed a $3,075,000 (75% Loan to Purchase Price) bridge loan on a 3-property apartment portfolio in Baldwin Hills, California. The borrower plans on renovating and turning a significant portion of the … Continue reading
$10,000,000 Facility Collateralized by Northern California SFR Rentals
8 – 22 – 12 Transaction Description: George Smith Partners successfully placed the $10,000,000 facility to fund pools of single family residences leased as rental investments. The renovated and fully leased/occupied single family detached homes are located in sixteen counties … Continue reading
$10,000,000 Bridge Loan For 170,000 SF Mixed-Use Acquisition
7 – 11 – 12 Transaction Description: George Smith Partners successfully placed the bridge financing to facilitate the acquisition of a 10-acre, mixed-use property [130,000 SF industrial/40,000 SF retail] in Northern California. The three building, 75% occupied property suffered from … Continue reading