The Real Deal Los Angeles

Geoff Palmer lands $267M refi on apartment portfolio

The often-times controversial real estate billionaire built his fortune off multifamily complexes
By Natalie Hoberman | November 10, 2017 04:30PM

Geoff Palmer (Credit: Getty Images)

Geoff Palmer, a Trump confidante and real estate billionaire, secured a $266.8 million refinancing on a four-property multifamily portfolio, The Real Deal has learned.

The properties included in the deal are the 198-unit Skyline Terrace Apartments at 930 Figueroa Terrace, the 128-unit Pasadena Park Place at 101 Bridewell Street, the 465-unit River Ranch Townhomes and Apartments at 18005 Anne’s Circle in Santa Clarita and the 568-unit Terrace at 21311 Alder Drive, also in Santa Clarita. The portfolio has 1,359 units.

George Smith Partners’ principal and co-founder Gary M. Tenzer secured financing on behalf of Palmer.

Palmer made headlines this week when the Paradise Papers revealed the billionaire was keeping some of his assets – including a private jet – in tax-friendly Bermuda island. The controversial figure, notorious for his firm stance against affordable housing, has an estimated personal fortune of $2.1 billion. A large chunk of that stems from his Faux-Italian complexes near freeways.