California + Bay Area + Finance | May 15, 2023

George Smith Partners finalized the securitization of $85.8 million in construction financing for a multifamily development in Sacramento

George Smith Partners Arranges $86M Construction Debt on Sacramento MXU

George Smith Partners (GSP) has finalized the securitization of $85.8 million in construction financing on behalf of 29th Street Capital and Bridge Investment Group for a 372-unit multifamily development in Sacramento. Located in the River District, an Opportunity Zone within Sacramento, this is phase A of Township 9, a 2,400-unit transit-oriented development

The GSP advisory team includes managing director Shahin Yazdi, SVP Miles Musalman and VP Kyle Redmond. “This development will be a vital addition to the Sacramento community, providing much-needed housing and creating jobs in the area,” said Yazdi.

Breaking ground in the second quarter, this phase of the development will consist of studios, one-, two- and three-bedroom apartments. At full buildout, Township 9 will also include more than 839,000 square feet of office space and 146,000 square feet of retail.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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