$6,840,000 Acquisition Financing of a Self-Storage Facility in Westerville, Ohio.
FINANCED Westerville Storage
Property Type: Self-Storage
Lender: Life Company Fund City: Westerville, Ohio Size: 424 Units Term: 36-month, Interest Only Loan
William DeFanti and Thomas Rudinsky of PSRS arranged the $6.84 million acquisition financing of a self-storage facility in Westerville, Ohio. The subject property is an eight-building, 424-unit, self-storage facility built in 2021. The property also includes 130 uncovered parking spaces for RV’s and boats. Financed with life company fund execution, PSRS provided its borrower with a non-recourse, 36-month interest only acquisition loan term for this newly built, unstabilized facility in lease up.
$12,000,000 Refinance of an Industrial Flex Building in Plano, Texas.
FINANCED Plano Industrial
Property Type: Industrial
Lender: Private Money City: Plano, Texas Size: 140,000 SF Term: 2-year term, Interest Only
Michael Warner of PSRS provided consulting services to arrange the $12 million bridge loan to refinance the maturing debt of a 140,000 SF industrial flex building in Plano, TX. The 2-tenant property had a maturing lease in one year for the majority tenant occupying 80% of the space. Financed with a private money source that provided the borrower cash out, non-recourse financing, with a 2-year loan term and with interest-only payments.
$1,520,000 Refinance of a Multifamily Property in San Diego, California.
FINANCED Hacienda Valley
Property Type: Multifamily
Lender: Bank City: San Diego, California Size: Six Units Term: 30-year term, 30-year amortization
David Smyle and Matthew Winkler of PSRS arranged the $1.52 million refinance of a multifamily property in San Diego, California. The subject property is a 6-unit apartment property situated on a 6,855-square-foot site. The property consists of two one-story cottages and two two-story craftsman apartment buildings. Financed with bank execution, PSRS provided its borrower a non-recourse, 30-year loan term with a 30-year amortization and five years of interest only.
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.
