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| Rendering of Planned The Park condominiums, Bankers Hill Neighborhood, San Diego, CA |
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| Malcolm Davies |
LOS ANGELES, CA –
Commercial real estate investment banking firm George Smith Partners has
successfully secured $39.7 million in new joint venture equity financing for
the development of The Park, a
planned 13-story, 60-unit, luxury
for-sale condominium project in San Diego’s affluent Bankers Hill neighborhood.
George Smith Partners
Principal Malcolm Davies arranged
the equity financing, and was assisted by Assistant Vice President Teddy Stutz and Assistant Vice
President Bo Everett.
According to Davies, “The
Park will be the first project of its kind in over a decade in the San Diego
market.”
Davies notes that George
Smith Partners was exclusively engaged by the project’s developers, Zephyr
Partners and LLJ Ventures, to secure new joint venture equity financing that
would enable construction to begin on the ground-up development project, which is
estimated to be completed in May of 2017.
“There is significant pent
up demand for new high rise condo developments in the marketplace,” he
explained. “Zephyr is one of the premier
Southern California multifamily and residential development companies, and this
project in Bankers Hill will be the latest in a line of successful developments
for the company.”
For a complete copy of the company’s news release,
please contact:
Corynne Randel/ Jenn
Quader
Brower, Miller & Cole
(949) 955-7940
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