Recent Transactions

Jonny Soleimani of PSRS arranged the $2 million refinance of a strip retail center in San Bernardino, California. The subject property is a multi-tenant, 9,659 SF strip center 100% occupied with a Farmer Bros market taking up the largest space. Other tenants include a nail salon, a beauty salon, restaurants, and dry cleaners. The subject sits on a 1.09-acre lot with 50 parking spaces constructed in 1988 using wood-frame construction. The borrower had purchased this property just a year ago in disrepair from fire damage. One of our Life Insurance companies recognized the value the borrower added through renovations and lease-up within such a short timeframe and was able to provide cash-out beyond just paying off the bridge loan. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a five-year loan term and a 20-year amortization.

Jonny Soleimani of PSRS arranged the $4 million refinance of a two-tenant retail property in Hemet, California. The subject property is 40,000 square feet situated on 1.91 acres and includes 200 parking spaces as part of a larger shopping center. Around 60% of the total square footage is leased to a credit tenant, dd’s Discounts (a Ross subsidiary). The other tenant, comprising ~40% of the space, is a local bargain store. PSRS successfully closed this loan to meet the borrower’s concurrent timeline in selling off an adjacent parcel of land in a separate transaction. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a three-year loan term and a 25-year amortization.