Recent Transactions

David Semmer of PSRS arranged the $25 million cash-out refinance of an industrial property in Paramount, California. The subject property is a concrete tilt-up construction, 282,000-square-foot industrial property built in 1979 with 270 parking spaces. Financed with life insurance company execution, PSRS provided its borrower a non-recourse loan with a sub-6% rate and spread of 1.55% + treasuries. The term is an eight-year loan with a 25-year amortization. The desirable property type, asset class, and location created a bidding war between our lenders.

Jacob Lee and Thomas Rudinsky of PSRS arranged the $11.78 million hotel-to-multifamily conversion of a property in Oklahoma City, Oklahoma. The subject property’s latest use was as a Holiday Inn that was constructed in 1963. The 10-story hotel-to-multifamily conversion will result in 204 total units comprised of mostly studios with 5,000sf of retail space on the ground floor. Financed with debt fund execution, PSRS provided its borrower a 65% LTC, 30-month loan term with one 6-month extension option. PSRS was able to secure financing for their client in short order after the initial bank lender backed out at the last minute.

Jonny Soleimani and Matthew Farzinpour of PSRS arranged the $3.7 million bridge financing of a retail property located in San Ramon, California. The subject property is a multi-tenant retail center consisting of 16,921 square feet of GLA constructed in 1990 and situated on 0.83 acres. The property contains a mix of tenants such as a billiards venue, salon, bistro, and a Chinese restaurant, and provides ample underground and surface parking, totaling 82 spaces. Financed with a debt fund, PSRS allowed its borrower to complete this 1031 exchange as needed before year-end. The 12-month loan term with no prepayment penalty allows the borrower to close promptly while providing an easy transition into permanent financing.