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George Smith Partners Refi’s Santa Clarita MXU
George Smith Partners secured a $23.5-million bridge loan to refinance existing construction debt for Newhall Crossings, a recently-completed, mixed-use development comprised of 47 apartments above 20,000 square feet of street-level retail. The Class A property is located at 24480 Main St. in Santa Clarita.
George Smith Partners’ Jonathan Lee and his team secured 5.76% fixed rate for a one-year term with two six-month extensions on behalf of Serrano Development Group, Inc.
Lee says, “Although there are a large number of new luxury multifamily projects throughout Southern California, there are virtually none of this quality in the Santa Clarita submarket. The property received C of O during the height of the Covid lockdown yet leased out all the multifamily units in a matter of months. Most retail leases are signed, and tenants are actively completing buildouts of their space.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




