CENTURY CITY, CA-Commercial real estate mortgage banking firm George Smith Partners expects to move into a new 13,500-sf office at MGM Tower in mid-May. The move will more than double the company's office space.
Gary Tenzer, co-founder and principal, says that the firm, with 46 professionals, expects to move into the new space on May 15. George Smith Partners, which closed 2005 with more than $3.5 billion in transactions for the year, was represented by Carol Roth of Commercial Realty Partners. The landlord, JMB, was represented by Mark McCaslin of the McCaslin Company.
Terms of the lease were not disclosed, but asking rates for the building are about $3.75 to $3.85 per sf per month. The 35-story, 775,000-sf MGM Tower was built in 2003 and is approximately 96% leased.
Founded in 1992, George Smith Partners Inc. arranges acquisition, construction and mezzanine loans, along with joint-venture equity and highly leveraged participating debt. The company also provides litigation support, real estate consulting and debt restructuring.
The company's six principals are Steve Bram, Gary Mozer, Gary M. Tenzer, Lee Norman, David Rifkind and Michael Gottlieb. In addition to its Los Angeles headquarters, it maintains offices in Newport Beach, Anchorage, Alaska and Spokane, WA.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.