With the majority of banks pulling back on commercial real estate lending, our life insurance company lenders are liquid with sound financial planning and capital available for all property types.
As Banks pull back on CRE lending, Life Co's remain liquid with capital available for all property types
With the majority of banks pulling back on commercial real estate lending, our life insurance company lenders are liquid with sound financial planning and capital available for all property types. This should be a great run for PSRS given our captive relationships with a couple of dozen insurance company lenders.
Recent Transactions
$3,042,000 Acquisition Financing of a Retail Property in Hollywood, California.
FINANCED Hollywood Retail Development
Lender:Life Insurance Company City:Hollywood, CA Size:9,000 SF Term:18-month term, non-recourse, interest only
David Sarnoff of PSRS arranged the $3,042,000 acquisition financing of a vacant retail property in Hollywood, CA. The subject property is a 9,000 SF former pawn shop that will be fully renovated and transformed to launch the latest restaurant concept from Ventana Ventures and Curato Design/Build. PSRS secured an 18-month non-recourse interest only acquisition loan via a private money lending source to carry the project through its first phase of development.
$5,925,000 Acquisition Financing of an Industrial Property in Carlsbad, California.
FINANCED Las Palmas Industrial
Lender:Life Insurance Company City:Carlsbad, CA Size:32,000 SF Term:5-year term / 30-year amortization
Ryan Frankman and Ari Zeen of PSRS arranged the $5,925,000 acquisition financing of an industrial property in Carlsbad, California. The subject property is a two-story building with 32,000 of industrial space. Financed with life insurance company execution, PSRS provided its borrower a non-recourse loan with a five-year term at a 5.55% rate and 30-year amortization. This deal closed in 35 days to meet the borrower’s 1031 exchange deadline. The deal was funded with only a signed lease while the tenant finalized tenant improvement work. The Lender also locked rate with only a signed application, taking advantage of a drop in the treasury while waiting on a deposit wire.
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About PSRS Founded in 1972, PSRS is a commercial mortgage banking firm that helps real estate investors of all sizes structure and secure financing solutions that align with their investment goals.
