April 8, 2016 Comments Off on George Smith Partners Secures $30M for Hollywood MF Project Views: 587 California News, Los Angeles, West

George Smith Partners Secures $30M for Hollywood MF Project

Los Angeles-based George Smith Partners secured $30 million in bridge financing for 3.48 acres of fully entitled multifamily development land and a 68,834 square-foot office building in Hollywood. The transit-oriented multifamily project is planned to include a combined total of 253 residential units, along with 4,060 square feet of ground-floor commercial space.

Phase One of the business plan is to finish cap ex, tenant improvements, construction of a parking garage on the adjacent lot, and sell the existing office building. Phase II is to develop two, seven-story multifamily buildings on the remaining land.

George Smith Partners’ Malcolm Davies, Kyle Henrickson and Teddy Stutz arranged the financing, on behalf of a Los Angeles-based developer and its foreign-based equity partner.

Connect with George Smith Partners’ Davies

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