Commercial Real Estate Lending Update
"Solving debt and equity capital issues for our clients is always our main goal." Replied Bryan Shaffer, Senior Vice a president of Nationwide Commercial Real Estate Mortgage / Investment Bank George Smith Partners. With over 25 year of Commercial Real Estate Experience, Shaffer can also help clients with complex issues involving structured bridge loans, resue capital for commercial real estate bankruptcies, highly leveraged structured loans, equity investments and other types of commercial real estate loans.
GSP in the News.
George Smith Partners Closes $185M in Loans on So Cal Retail Portfolio
George Smith Partners closed a $185 million financing on behalf of DJM Capital Partners Inc. to refinance a four-center retail portfolio in Southern California. The included a $70.6 million loan for La Habra Marketplace; a $40.2 million loan for Village Del Amo; a $42.2 million loan for Montalvo Square and a $32 million loan for Lakewood Square. The loans were non-recourse permanent loans and featured a sub-3.9 percent rate.
The proceeds from the transaction will be used to pay off existing senior and mezzanine loans due in the next 12 to 18 months, in addition to defeasance costs.
Over the past 10 years, the properties have averaged an occupancy rate of 97.2 percent.