LOS ANGELES—CRE investment banking firm George SmithPartners has successfully arranged a $172.3million bridge loan for a portfolio of 36properties located in 17 states nationwide, according toGeorge Smith Partners' SVP Jay Brooks.
“This portfolio had been mired in complex litigation for manyyears as a result of a loan maturity default that took place duringthe recent recession,” explained Brooks. “George Smith Partners wasintimately involved in the finance process for this portfolio frombeginning to end. By keeping our client in front of the bestcapital providers during a volatile time, the client was able tonegotiate the terms of the bankruptcy exit and ultimately securethe bridge financing needed to maintain their ownership of thisportfolio.”
The portfolio includes regional malls, office buildings,industrial properties and mobile homeparks located in both secondary and tertiary markets fromLouisiana to Alaska.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
