Los Angeles – The term was structured to sell some assets and to also find permanent debt for others.
George Smith Partners has arranged a $172.3 million bridge loan for a portfolio of 36 properties located in 17 states nationwide. The portfolio includes regional malls, office buildings, industrial properties and mobile home parks located in both secondary and tertiary markets from Louisiana to Alaska. The secured loans were priced with either a floating rate with an interest rate cap, or with a fixed interest rate with six months to 24 months of yield maintenance. The leverage varied depending on the stability of each asset.
— Scott Reid