George Smith Arranges Credit Facility for CFA

NEW YORK CITY-Los Angeles based George Smith Partners has arranged a $50 million senior secured revolving credit facility for locally based CFA Capital Partners LLC. CFA has created a new fund capitalized at $17 million, which was leveraged with the $50 million credit facility, creating a total capital pool of $67 million to expand its loan activities.

The credit line includes a provision for the credit provider to increase its line to a total of $100 million through internal funds and/or syndication. The term of the credit facility is three years.

“Due to its substantial experience and excellent contacts in the New York financial community, CFA plans to grow substantially over the next several years by making loans to high-end hard money borrowers,” says Nathan Auslander, senior vice president at George Smith Partners, who along with Gary Tenzer, principal and senior director, arranged the financing. “These additional funds will enable them to continuing pursuing and achieving their business goals.”