Los AngelesThe unnamed buyer of the retail portion of the Burbank Collection—which GPI Cos. sold for $27 million—has secured financing for the deal. George Smith Partners secured a $19.9 million for the deal with maximum proceeds as the loan was sized to 76.5% of purchase price and 75% of value.

The lender was not disclosed, however, the loan terms feature an all-in interest rate priced at 157 basis points over 10-year swaps and includes three years of interest-only payments.

The retail portion of the Burbank Collection is 39,000 square feet, and includes a Yard House, Panera Bread, Pinkberry, and Boiling Crab along with Barney's Beanery and Steak 'N Shake. It is in a mixed-use building with condo units.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.