$3,000,000 Refinance of an Industrial Property in San Diego, California.
FINANCED Copley Industrial
Lender:Life Insurance Company City:San Diego, CA Size:33,000 SF Term: 10-year term, 30-year amortization
James Mulvihill and Kevin Mulvihill of PSRS arranged the $3 million refinance of an industrial property in San Diego, California. The subject property is a 33,000-square-foot, single-tenant industrial property built in 1998 on a 1.82-acre site. Features include a clear height of 24’, three drive-in bays, and 81 standard parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization. The borrower was provided a Spring 2023 rate lock to secure an attractive, sub-5.25% interest rate ahead of a Fall 2023 existing loan maturity.
$3,000,000 Refinance of a Retail Strip Center in La Canada Flintridge, California.
FINANCED Foothill Blvd Retail
Lender:Bank City:La Canada Flintridge, CA Size:22,240 SF Term: 10-year term, 25-year amortization
David Blain of PSRS arranged the $3 million refinance of a retail strip center in La Canada Flintridge, California. The subject property is a 22,240-square-foot unanchored strip center constructed in 1977 and renovated in 2001. Financed with bank execution, PSRS provided its borrower a non-recourse, 10-year loan term with a 25-year amortization.
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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.
