Saturday, October 10, 2015

George Smith Partners Secures $39.7 Million in Joint Venture Equity Financing for The Park, a San Diego Luxury Condo Development

Rendering of Planned The Park condominiums, Bankers Hill Neighborhood,
 San Diego, CA

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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