November 20, 2015
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George Smith Partners has secured $20.5 million in transaction financing for the purchase of an historical mixed-use building in Hollywood.
The owner of this building, which has 163 apartment units, as well as 10,500 square feet of ground-floor retail, took on bridge financing to do remodels to the historical development.
George Smith Partners reportedly also helped the owner alleviate rent concessions that current apartment tenants were receiving, and hired a third party to stabilize the ground-floor retail units.